Consultancy Services to Conduct a Training Course on International Financial Reporting Standards

• Country: Zimbabwe
• Summary: Consultancy Services to Conduct a Training Course on International Financial Reporting Standards
• ZWT Ref No: 16186901
• Deadline: 11 Sep 2017
• Financier: Other Funding Agencies
• Purchaser Ownership: Government
• Tender Value: Refer Document
• Notice Type: Tender
• Document Ref. No.: ACBF/EOI/048/17/NRF
• Purchaser's Detail:
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• Description:
• Expression of Interest are invited for Consultancy Services to Conduct a Training Course on International Financial Reporting Standards. 1. Background Information on ACBF The African Capacity Building Foundation (ACBF) was established in 1991 to build sustainable human and institutional capacity in support of Africa’s development. The Foundation’s goal is to improve the lives and prospects of people throughout the African continent. ACBF supports capacity development in Africa through grant making, knowledge sharing and technical assistance to countries and regional and sub-regional organizations. ACBF’s approach to capacity development focuses on addressing capacity needs and gaps as well as on stakeholder ownership of interventions, project and program sustainability and synergy of interventions with other development institutions. With 26 years of experience in Africa, the ACBF is transforming itself from a “go-to” place for grants into a “go-to” place for investments in integrated capacity development. The Foundation has therefore developed and is operationalizing a 5-year strategic plan (2017-2021) based on four strategic pillars and five service lines. The four strategic pillars are as follows: enabling effective delivery of continental development priorities; supporting countries to achieve tangible development results; enhancing private sector and civil society contributions to sustainable development; and leveraging knowledge and learning to increase development effectiveness. These four Strategic Pillars, built along with four corresponding programs, express the goals that the ACBF Strategy for 2017–2021 aims to achieve. The operational method for delivering these goals is through of five service lines: resource mobilization; advisory services; knowledge services; innovation services; and investment and fund management. 2. Rationale of the training ACBF has adopted International Financial Reporting Standards (IFRSs) in 2012. Its annual financial reports are prepared in accordance with and comply with the International Financial Reporting Standards issued by the International Accounting Standards Board (IASB) and interpretations issued by the International Financial Reporting Standards Interpretations Committee (IFRSIC). As part of its 2017 staff development plan the foundation intends to develop knowledge, understanding and application of International Financial Reporting Standards and the concepts and principles which underpin them. 3. Scope and Objective of the Training Session The training is expected to build on the prior technical and/or practical knowledge acquired from accountancy qualifications or relevant work experience. The course introduces the staff to the wider international conceptual framework for financial reporting and the systems of standard setting. It concentrate on application of conceptual and technical financial accounting knowledge that staff members have already obtained to the specific requirements of financial reporting under international standards. The following are the key objectives of the training. i. Understanding of the structure of the international conceptual framework of accounting, ii. Apply relevant financial reporting standards to key elements of the ACBF financial reports, iii. Identify and apply disclosure requirements for ACBF relating to the presentation of Financial reports and notes and iv. Preparation of ACBF financial Statements that are compliant to International Financial Reporting Standards. The training should cover the following key topic areas. I. International Sources of Authority 1. The Structure of the International Accounting Standards Board (IASA) 2. The Accounting Framework II. Elements of Financial Statements 1. Property, Plant and Equipment 2. Impairment of Assets 3. Intangible Assets/Good Will 4. Current Assets including Inventories 5. Liabilities/lease 6. Provisions and Contingencies 7. Revenues and Accounting for Government Grants III. Presentation of Financial Statements and additional disclosure IV. Statement of Cash flow V. Presentation of accounts and additional disclosures VI. Preparation of Annual Financial Reports In attendance would be the core finance team (10). 4. Methodology The In-house training will be conducted by an independent consultant in line with a clearly defined approach and methodology (quantitative and qualitative) that fully involves all relevant/concerned ACBF Staff members. The training should focus the latest standards and their applications and impact on ACBF’s financial reports. 5. Expected Deliverables The Consultant is required to prepare and disseminate course specific reference material for the training before two weeks of the actual date of the training. 6. Qualifications of the firm ACBF is looking for a consulting firm meeting the following minimum requirements: · A minimum of 5 years’ experience of working on IFRS compliance projects as training provider or technical advisory service on IFRS. · Traceable references where similar assignments were carried out (firm to provide link or details of at least 2 (two) recent related trainings. · Knowledge and experience in application of IFRS within the international development organizations will be considered an asset. 7. Experience and Qualification of the team To implement this assignment, one consultant with the following qualification and experience will be required: · At least Master’s degree in Accounting or finance or similar fields of studies. · Recognized professional accounting qualification such as ACCA, CA etc. · Over six (6) years’ experience in undertaking training sessions in International Financial Reporting Standards. · Demonstrated extensive experience of conducting similar training sessions and the contextual issues of the assignment. 8. ACBF’s inputs The Foundation will be responsible for the following: · Print and distribute all training handouts and materials. · Facilitate the logistical arrangements for the workshop, including providing equipment, and any other materials that may be required. 9. Duration of the Training The training will be conducted in three (03) working days within ACBF premises. 10. Intellectual property ACBF shall, solely and exclusively, own all rights in and to any work created in connection with this contract. The consultant shall not be allowed to post or publish (electronically or in print) any related information without the explicit consent of ACBF. 11. Request For Clarifications Request for clarifications if any should be sent to Procurementunit@acbf-pac.org no later than 3 working days before the closing date. 11. Application Your application must include the elements below: · Detailed Resume reflecting the qualification and experience of the consultant (s) (the CV should include explicit reference, · Financial proposal, including the detailed breakdown of costs · Concept note regarding the understanding of the assignment (2-3 pages) 12. Submission Deadline: Monday 11 September, 2017 at 17h00 Local Harare time by email to Tender@acbf-pact.org (Please include job Title in the subject area).
• Documents:

 Tender Notice