International Public Sector Accounting Standards (IPSAS) Fundamentals Training

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 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 OBJECTIVES

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

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
Learn the sources of IPSAS guidance that are available
WHO SHOULD ATTEND

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