International Public Sector Accounting Standards (IPSAS)

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Why Attend

IPSAS has been developed to enhance the quality, consistency, and transparency of public sector financial reporting worldwide. Issued by the International Public Sector Accounting Standards Board (IPSASB), they are cash-based standards and accruals standards used for the preparation of general-purpose financial statements by governments and other public sector entities around the world.

This training course is intended to enable the participants to understand IPSAS and the framework for public sector accounting. The training course provides an overview of the most important requirements for preparing financial statements and disclosures under IPSAS, with specific insight.

Event Date: 19/06/2023 – 23/06/2023

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Overview
Course Outline

Module 1 – Introduction to IPSASB

- An overview of the work of the Board (IPSASB) includes:
  - The organization,
  - The characteristics of public sector entities,
  - The relationship between IPSAS®
  - The purpose of financial statements and any ongoing projects

Module 2 – Financial Statements presentation and accounting policy

- Key IPSAS requirements within financial statements (IPSAS® 1)
- Producing the statement of financial position
- Producing the cash flow statement (IPSAS® 2)
- Accounting policies, changes in accounting estimates, and errors (IPSAS® 3)
- Segment reporting (IPSAS 18)
- Disclosure standards and other topics, presentation of budget information (IPSAS 24)
- Reporting changes in net asset position
- Producing compliant notes to the accounts

Module 3 – Financial performance

- Provides an understanding of:
  - Non-exchange revenue (IPSAS® 23)
  - Exchange revenue (IPSAS® 9)
  - Construction contracts (IPSAS® 11)

Module 4 – Accounting for Assets and Liabilities

- Delivers teaching around a wide range of topics including:
  - Property plant and equipment (IPSAS® 17)
  - Intangible assets (IPSAS® 31)
  - Investment property (IPSAS® 16)
  - Impairment of cash generating assets (IPSAS® 26)
  - Impairment of non-cash generating assets (IPSAS® 21)
  - Borrowing costs (IPSAS® 5)
  - Inventories (IPSAS® 12)
  - Leases (IPSAS® 13)
  - Financial instruments (IPSAS® 28, 29, 30)
  - Provisions
  - Contingent liabilities and contingent assets (IPSAS® 19)
  - Events after the reporting date (IPSAS® 14)
  - Employee benefits (IPSAS® 25)
  - Agriculture (IPSAS® 27)
  - Concessions

Module 5 – Consolidation

- Delivers training around:
  - Consolidated and separate financial statements (IPSAS® 6)
  - Interests in joint ventures (IPSAS® 8)
  - Investments in associates (IPSAS® 7)
  - Translation of financial statements of foreign operations (IPSAS® 4)
  - Financial reporting in hyperinflationary economies (IPSAS® 10)
  - Disclosure standards and other topics, presentation of budget information (IPSAS® 24)
  - Segment reporting (IPSAS® 18)

Module 6 – Disclosure standards

- Related party disclosures (IPSAS® 20)
- Disclosure of financial information about the general government sector (IPSAS® 22)

Module 7 – Cash-Basis IPSAS®

- Delivers training about Part 1 of the cash basis IPSAS®, covering required information in:
  - The statement of cash receipts and payments
  - Disclosures
  - Consolidation under the cash basis
  - Presentation of budget information in the financial statements
  - The additional (non-mandatory) disclosures encouraged in Part 2 of the cash basis IPSAS®

Module 8 – First-Time Adoption of Accrual-Based IPSAS®

- Delivers training cover the following areas:
  - Migrating from cash to accrual basis
  - First time adoption of IPSAS® (IPSAS® 33)
  - Change management and the adoption of IPSAS®