Shipping Accounting and IFRS for Vessels and Charters Training Course

Overview

Shipping Accounting and IFRS for Vessels and Charters Training Course is a one-week intermediate course for shipping accountants, finance managers, vessel operators, maritime controllers and auditors. Participants build a Shipping Accounting Policy and Journal Entry Pack for vessel assets, charter arrangements, voyage revenue, dry-docking, impairment, foreign currency and financial statements. The course connects IFRS requirements with transaction evidence and operating decisions in shipowning and carrier businesses. Agile Leaders Training Center presents shipping accounting and IFRS application.

Who Should Attend

• Finance teams responsible for recording vessel, voyage and charter transactions
• Financial reporting teams responsible for IFRS policies and disclosures
• Marine operations teams that provide accounting inputs and supporting evidence
• Internal audit teams that test shipping balances and transaction controls
• External reporting advisers who review shipping-company financial statements

The course assumes participants can prepare journal entries and read financial statements; it leaves out introductory bookkeeping and tax-law interpretation.

Departments and Industries

The course supports finance and assurance work across maritime transport and asset-intensive services.

• Shipowning, ship management and maritime carrier finance
• Port, terminal and marine logistics accounting
• Offshore service and vessel-operating control teams
• Banking and leasing teams reviewing vessel transactions
• Audit and advisory teams serving transport and logistics entities

Learning Objectives

By the end of this course, participants will be able to:

• Apply IFRS recognition principles to shipping contracts and voyage revenue.
• Build vessel component, depreciation and dry-docking accounting schedules.
• Analyze charter arrangements for lease and service components.
• Evaluate vessel impairment, provisions and foreign-currency effects.
• Use audit evidence to support journal entries and disclosures.
• Build a shipping accounting policy and journal entry pack.

Course Agenda

Day 1: Map Shipping Transactions and Policies

• Shipping Business Model and Transaction-Flow Map
• Voyage, Time-Charter and Bareboat Contract Classification Matrix
• Chart of Accounts for Vessel, Voyage and Charter Activity
• Functional Currency and Foreign-Currency Transaction Method
• Shipping Accounting Policy and Evidence Register

Day 2: Account for Vessel Assets and Dry-Docking

• IAS 16 Vessel Cost and Component Identification Schedule
• Borrowing Cost and Construction Expenditure Review
• Residual Value, Useful Life and Depreciation Model
• Dry-Docking Component Capitalization and Derecognition Worksheet
• Repair, Maintenance and Capital Expenditure Decision Tree

Day 3: Recognize Voyage and Charter Revenue

• IFRS 15 Shipping Contract and Customer Assessment
• Performance Obligation and Transaction Price Allocation Matrix
• Voyage Revenue and Progress Measurement Schedule
• Freight, Demurrage and Dispatch Accounting Journal
• Contract Asset, Receivable and Liability Reconciliation

Day 4: Measure Leases, Impairment and Provisions

• IFRS 16 Charter Lease and Service Component Assessment
• Right-of-Use Asset and Lease Liability Measurement Schedule
• IAS 36 Vessel Cash-Generating Unit and Impairment Model
• Provision, Contingency and Claim Recognition Checklist
• Financial Statement Disclosure and Audit Evidence File

Day 5: Practice Shipping Accounting Decisions

• Exercise: Classify a Mixed Fleet Contract Portfolio
• Exercise: Build a Vessel Component and Dry-Docking Schedule
• Exercise: Record Voyage Revenue and Charter Entries
• Exercise: Evaluate Vessel Impairment and Disclosure Evidence
• Capstone Exercise: Complete the Shipping Accounting Policy and Journal Entry Pack

Practical Exercises

The course uses suggested activities based on shipping and asset-finance cases.

• Suggested activity: trace source documents from a voyage file into revenue entries and reconciliations.
• Suggested activity: separate vessel components and prepare a dry-docking accounting schedule.
• Suggested activity: assess a charter contract for lease and service elements.
• Suggested activity: assemble impairment evidence, journal entries and financial statement disclosures.

FAQs

Who suits the Shipping Accounting and IFRS course, and what does it assume?

The course suits finance, operations and audit personnel handling shipping transactions. It assumes working knowledge of journal entries and financial statements, while introducing the shipping-specific judgments needed for vessels, voyages and charters.

How does Shipping Accounting and IFRS differ from a general IFRS course?

Shipping Accounting and IFRS focuses on vessel components, dry-docking, voyage revenue, charter arrangements, impairment and maritime evidence rather than surveying standards across unrelated industries.

How is voyage revenue treated in shipping accounting?

Voyage revenue treatment starts with the contract, customer, performance obligations, transaction price and progress toward satisfaction. The accounting conclusion must reflect the facts and documented policy for the shipping arrangement.

How are dry-docking costs handled in vessel accounting?

Dry-docking costs require analysis of the vessel component, recognition criteria, useful life and derecognition of the replaced component. Routine repairs remain distinct from expenditure that qualifies for capitalization.

When does a charter fall within IFRS 16?

A charter requires assessment of whether it conveys the right to control the use of an identified asset. Service elements and the contract facts must be evaluated before measurement and journal entries are prepared.

Conclusion

Participants take back a Shipping Accounting Policy and Journal Entry Pack containing transaction maps, decision tools, schedules, entries and evidence requirements. The pack aligns finance and marine operations around consistent treatments. It also supports review of vessel, voyage and charter balances before reporting and audit.