£2350 + VAT
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
- 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
- Accounting and financial specialists, professionals, practitioners and policy makers 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 organisations.
- 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 organisations.
- Public administrators encountering important challenges in reducing the distance between accounting systems within countries as well as across borders, through a move towards harmonisation of accounting practices in the public sector.
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.