“Exciting update: UAE introduces new course on government accounting standards.”

TLDR:

• The Ministry of Finance in the UAE organized a training course to update the federal government’s accounting standards manual.
• The course focused on enhancing financial performance efficiency within federal ministries and entities.

The Ministry of Finance in the UAE recently conducted a training course titled “Roundtable Session – Discussion of Updates to the Federal Government’s Accounting Standards Manual”. The course aimed at developing governmental financial work and enhancing financial performance efficiency within federal ministries and entities. Mariam Mohamed Al Amiri, Assistant Under-Secretary of the Government Financial Management Sector at the Ministry of Finance, highlighted the importance of accounting standards in achieving the federal government’s goals and ensuring transparency in financial reporting. The course delved into updates on financial instruments, social benefits, leases, non-current assets, and discontinued operations. Participants were briefed on new standards being added to the manual and the application of these standards with related initiatives. The course emphasized the consistency and coherence of accounting treatments across federal entities to facilitate comparison and provide users with accurate financial information. Overall, the training course focused on aligning federal government accounting practices with international standards to enhance financial transparency and efficiency.