Accounting and Finance World Bank Compliant

Course Contents, Concepts and Issues:

Part 1: A Conceptual Framework: Setting the Scene The Accountant and the Accounting Environment

• Accounting – Defined
• The Development of a Conceptual Network
• External Reporting
• Internal Reporting
• Types of Business Entity  Sole Trader  Partnership  Limited liability Company
• Formation of Business Entity
• Running the Business
• Accounting Information
• Meeting Obligations
• Users and Their Information Needs
• General and Specific Purpose
• Agency Theory

Financial Statements from the Accounting Equation

• Primary Financial Statements
• Financial Statement Preparation
• Statement of Financial Position – Balance Sheet
• Other Forms of Statement – Horizontal and Vertical
• Income Statement
• Statement of Cash Flows
• Subdivision of Cash Flows
• Profit Does Not Equal Cash
• Practical Illustration
• Debit and Credit Recording
• Analysis of Transaction
• Trial Balance

Ensuring the Quality of Financial Statements

• Qualitative Characteristics
• Relevance and Reliability
• Measurement Principles
• Materiality
• Prudence
• Regulation
• Reviewing Published Financial Statements

Management Accounting

• Introduction
• Meeting the needs of internal users
• Management functions
• Role of management accounting
• Judgments and decisions: case study illustrations
• Terminology of management accounting
• Cost
• Definition of a cost
• The need for cost classification
• The meaning of 'activity'
• Variable costs and fixed costs
• Direct costs and indirect costs
• Product costs and period costs
• Cost classification for planning, decision-making and control
• Cost coding
• Cost selection and reporting

Part 2: World Bank Overview and its Financial Aspects

Introduction to World Bank

• Strategies
• Comprehensive Development Framework
• Country Assistance Strategies
• Poverty Reduction Strategies
• Non-lending Activities
• Debt Relief (HIPC)
• Low Income Countries Under Stress
• Country Diversity
• Low Income Countries
• Middle Income Countries
• Fragile and Conflict-Affected Countries
• Development Effectiveness
• Harmonization
• Alignment
• Aid Effectiveness Review
• Project Database
• Country lending Summaries
• What is a Project?
• Project Major Sector
• Procurement Method
• How the Project Cycle Works
• Project Status
• Board Work Program
• Monthly Operational Summary
• Status of Projects in Execution
• Implementation Completion and Results Report
• Policies and Procedures
• Operational Manual
• Safeguard Policies
• Procurement
• Disbursement
• Sanctions
• Disclosure
• Debt
• Products and Services
• Investment and Development Policy Operations
• Banking Products
• Trust Funds and Grants
• Guarantees
• Non-Lending Activities
• How We Measure Results
• A Dynamic Framework for Capturing Results
• Several Initiatives Are underway
• Projects and Lending
• How much does the World Bank lend every year?
• Where can I find information about how much a country is repaying the Bank?
• What happens if a country can't repay what it owes?
• Why does the Bank lend to some countries that do not have democratic political systems, or have poor human rights records?
• Does the Bank always make developing countries privatize their industries and assets?
• Do political considerations play a part in whom the Bank lends to?
• How can I find the name of a project task lead?
• Does the public get to comment on Bank projects prior Bank approval?
• What happens when a project isn't working, can it be changed?
• Mapping for Results Platform
• Data Sources
• Methodology
• Open Data
• Partners

Financial Terms and Conditions of IBRD Loans, IBRD Hedging Products, and IDA Credits IBRD Loans

• Fixed-Spread Loan (FSL) and Variable-Spread Loan (VSL)
• Currencies
• Lending Rate
• Commitment Charge
• Waivers
• Front-End Fee
• Currency Conversions
• Interest Rate Conversions
• Interest Rate Caps and Collars
• Maturities
• Pricing
• Repayment Terms
• Prepayment
• Distinctions between FSL and VSL
• Process for Converting VSL to FSL
• Hedging VSL without Converting into FSL
• IBRD Hedging Products
• Access to Hedging Products
• Process for Execution of Stand-Alone Hedging Products
• Master Derivatives Agreement
• IDA Credits
• Currencies
• Credit Charges
• Repayment Terms

World Bank Financial Management

• Project Preparation
• Project Implementation
• Project Completion
• Financial Management Arrangements:
• Assessments of Financial Management Arrangements
• Interim Financial Reporting
• Audited Financial Statements
• Failure to Maintain Acceptable Financial Management Arrangements
• Additional Financing for Investment Lending

Country Financing Parameters

• Financing Individual Projects
• Special Review and Authorization Arrangements for Selected Types of Expenditures
• Financing of Interest during Construction
• Calculation
• Presentation
• Documentation