14 Topics
5 Days
Programme Overview
Training Description
This course targets:
- Finance and accounting managers of public sector entities considering to adopt IPSAS
- Government officials and project managers responsible for IPSAS transition
- Accountants and finance staff of public sector entities and similar agencies (e.g. UN) in the process of adopting IPSAS
- Accountants and finance staff moving from private to public sector environments
- Internal auditors of entities that have adopted IPSAS or are in the process of doing so
- Accounting practitioners, consultants and external auditors
- Accounting academics
Session Objectives
- Understand Accrual Based IPSAS requirements, including accounting policies and disclosures
- Implement the IPSAS recognition and measurement rules for assets, liabilities, revenues and expenses
- Learn the requirements for presentation of IPSAS financial statements and related disclosures
- Plan ahead for issues that arise when transitioning from the cash basis to the accrual basis of accounting
- Identify transitional provisions in IPSAS standards
- Increase planning opportunities through awareness of likely future IPSAS changes
About the Course
IPSASs aim to improve the quality of general purpose financial reporting by public sector entities, leading to better informed assessments of the resource allocation decisions made by governments, thereby increasing transparency and accountability. The International Public Sector Accounting Standards Board (IPSASB) issues International Public Sector Accounting Standards (IPSASs) and Recommended Practice Guidelines (RPGs) relating to the financial reporting needs of national, regional and local governments, governmental agencies, and the constituencies they serve.
This five-day course provides an overview of the most important requirements for preparing financial statements and disclosures under accrual basis IPSASs. The program has been fully updated to reflect the most recent IPSAS Handbook. Accounting and disclosure requirements are explained in clear, simple language and illustrated with model financial statements and real-world examples. Application of the various standards is illustrated through the use of short case studies. In addition to a review of current accrual basis IPSASs, our specialist instructors provide guidance on transitioning to the accrual basis. Course delegates also receive up-to-date information on the IPSASB’s Work Plan, including current Exposure Drafts and Consultation Papers.
Curriculum & Topics
14 Topics | 5 Days
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Subtopic 1.1:
N/A
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Subtopic 2.1:
IPSAS 1 Presentation of Financial Statements
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Subtopic 2.2:
IPSAS 2 Cash Flow Statements
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Subtopic 2.3:
IPSAS 3 Accounting Policies, Changes in Accounting Estimates and Errors
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Subtopic 2.4:
IPSAS 14 Events after the Reporting Date
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Subtopic 3.1:
N/A
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Subtopic 4.1:
N/A
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Subtopic 5.1:
N/A
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Subtopic 6.1:
N/A
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Subtopic 7.1:
IPSAS 23 Revenue from Non-Exchange Transactions
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Subtopic 7.2:
IPSAS 9 Revenue from Exchange Transactions
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Subtopic 7.3:
IPSAS 12 Inventories
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Subtopic 8.1:
General expense recognition principles and application to donations given
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Subtopic 8.2:
IPSAS 19 Provisions, Contingent Liabilities and Contingent Assets
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Subtopic 8.3:
IPSAS 39 Employee Benefits
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Subtopic 9.1:
IPSAS 13 Leases
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Subtopic 9.2:
IPSAS 32 Service Concession Arrangements
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Subtopic 9.3:
IPSAS 4 The Effects of Changes in Foreign Exchange Rates
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Subtopic 10.1:
IPSAS 28 Financial Instruments Presentation
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Subtopic 10.2:
IPSAS 29 Financial Instruments: Recognition and Measurement
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Subtopic 10.3:
IPSAS 30 Financial Instruments: Disclosures
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Subtopic 11.1:
IPSAS 35 Consolidated Financial Statements - Accounting for Controlled Entities
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Subtopic 11.2:
IPSAS 36 Accounting for Investments in Associates and Joint Ventures
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Subtopic 11.3:
IPSAS 37 Accounting for Joint Arrangements
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Subtopic 11.4:
IPSAS 40 Public Sector Combinations
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Subtopic 12.1:
IPSAS 18 Segment Reporting
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Subtopic 12.2:
IPSAS 20 Related Party Disclosures
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Subtopic 12.3:
IPSAS 24 Presentation of Budget Information in Financial Statements
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Subtopic 13.1:
N/A
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Subtopic 14.1:
N/A
