Professional Certificate in Infrastructure Financial Management (IFM)
Earners of the IPWEA Professional Certificate in IFM have a comprehensive knowledge of infrastructure financial management. They understand the role of the Long-Term Financial Plan and the Financial Strategy, recognising infrastructure assets in the preparation of annual financial statements in accordance with international principles. They apply an appropriate approach to the performance measures used for informed decision making and reporting relating to infrastructure finance management.
- Type Certification
- Level Intermediate
- Time Weeks
- Cost Paid
Skills
Earning Criteria
Standards
This document gives guidelines for the alignment between financial and non-financial asset management functions, in order to improve internal control as part of an organization's management system.
The Manual provides the practical “how to” tools for asset and financial management practitioners to report and manage infrastructure assets in a consistent way, based on the Accounting Standards applicable in various Countries. The Manual is all about getting asset and financial professionals speaking a common language and taking a common approach
The International Infrastructure Management Manual (IIMM) has been driven largely by the updates to the ISO 55000 Asset Management Standards. The Manual provides valuable learnings for those who have a vital stewardship role in managing the investment in infrastructure on behalf of their community, customers or investors.
IFRS 13 defines fair value, sets out a framework for measuring fair value, and requires disclosures about fair value measurements.
IAS 16 establishes principles for recognising property, plant and equipment as assets, measuring their carrying amounts, and measuring the depreciation charges and impairment losses to be recognised in relation to them.
The Conceptual Framework sets out the fundamental concepts for financial reporting that guide the Board in developing IFRS Standards. It helps to ensure that the Standards are conceptually consistent and that similar transactions are treated the same way, so as to provide useful information for investors, lenders and other creditors.