Ministry of Economy and Finance Conducts Accounting and Settlement Training for Public Enterprises... Tax Research Institute to Take Over from Next Year

[Sejong=Asia Economy Reporter Son Seon-hee] The Ministry of Economy and Finance and the Korea Institute of Public Finance announced on the 13th that they will conduct accounting settlement training for about 300 accounting-related employees of public enterprises and quasi-governmental institutions for the 2021 fiscal year.

In accordance with relevant laws, the training has been conducted annually since 2008, but this year it was replaced with pre-recorded video lectures using YouTube to prevent the spread of COVID-19. For five days starting from this day, accounting-related employees can watch the YouTube lecture videos at their preferred times. Notably, the Board of Audit and Inspection, the settlement inspection agency, also participated in producing the lecture videos for this year's settlement training.

The main contents of this year's training include ▲ Overview of settlement related to public enterprises and quasi-governmental institutions ▲ Accounting treatment and note preparation methods by account item ▲ How to use the Public Institution Financial Reporting System (PIFRS) ▲ Key points of the Board of Audit and Inspection's settlement inspection.

The Ministry of Economy and Finance stated, "We plan to continue and expand education for accounting-related employees of public institutions to ensure that reliable settlement statements of public enterprises and quasi-governmental institutions can be prepared," and added, "Starting next year, we plan to entrust the accounting settlement training to the Korea Institute of Public Finance to promote specialization and diversification of the training courses."

This content was produced with the assistance of AI translation services.