Interpretation and Application of IPSAS

KEY INFORMATION

  • Course Code: AFB107
  • Duration: 1 week
  • Fee: £2625

COURSE OUTLINE

Introducing Public Sector Accounting

  • IPSAS and public sector entities
  • Why converge public sector accounting practices?
  • The International Public Sector Accounting Standards Board (IPSASB)

Accrual-based IPSAS: Part 1

  • The IPSASB conceptual framework and key accrual accounting concepts
  • Financial statements
  • Disclosure standards
  • Long-term (non-current assets)
  • Current assets
  • Service concession arrangements: grantor
  • Leases and leasing arrangements

Accrual-based IPSAS: Part 2

  • Revenues and expenses
  • Employee benefits, social benefits, and other liabilities
  • Provisions and contingencies
  • Budget reporting
  • Financial instruments
  • Consolidations and strategic investments
  • Specific standards: accounting for agriculture and accounting in hyperinflation economies
  • Recommended practice guidelines

Cash-based IPSAS

  • Content part 1 cash basis IPSAS
  • Examples of use of cash basis IPSAS
  • Content part 2 cash basis IPSAS

Making the Transition to IPSAS

  • Project management perspective
  • What is the starting point for transition?
  • Different paths of IPSAS adoption
  • First-time adoption of accrual basis IPSAS

Target audience

  • Accounting and financial specialists, professionals, practitioners, and policymakers employed within national, state/provincial and local governments; government ministries, departments, programs, boards, commissions, and agencies; public sector social security funds, trusts, and statutory authorities; and International governmental organizations.
  • Accounting and finance staff of public sector entities that intend to embrace IPSAS, and thereby upgrade the reporting, the accountability and the transparency of their organizations.
  • Public administrators encountering important challenges in reducing the distance between accounting systems within countries as well as across borders, through a move towards harmonization of accounting practices in the public sector.

Learning outcomes

Upon completion of this course, you will be able to understand:

  • The role and history of IPSASB.
  • The scope of accrual-based IPSAS.
  • What is prescribed in the suite of IPSAS for accrual basis accounting.
  • The options accrual-based IPSAS provides for the measurement and recognition for each of the standards.
  • Some of the key practical implementation issues when preparing IPSAS-compliant financial statements.
  • The options that are provided within IPSAS when determining key accounting policy issues.
  • What is prescribed in cash-basis IPSAS.
  • How to prepare a transition to cash-basis IPSAS or to accrual-based IPSAS.

WHAT IS INCLUDED:

  • 30 hours of classroom-based training
  • Apple iPad
Program taught in:
  • English

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Last updated September 10, 2019
This course is Campus based
Start Date
Oct 28, 2019
Jan 20, 2020
Duration
1 week
Full-time
Price
2,625 GBP
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