Interpretation and Application of IPSAS

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.

CONTENT

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

TRAINING METHODOLOGY

The training methodology combines lectures, discussions, group exercises and illustrations. Participants will gain both theoretical and practical knowledge of the topics. The emphasis is on the practical application of the topics and as a result participant will go back to the workplace with both the ability and the confidence to apply the techniques learned to their duties.

DATE:

1ST BATCH:              11th - 14th February, 2020               

2ND BATCH:             5th – 8th May, 2020

3RD BATCH:             22nd – 25th September, 2020