HCA Global Consult Limited > International Courses > Fundamentals of International Public Sector Accounting Standard IPSAS (Accrual Basis)

Fundamentals of International Public Sector Accounting Standard IPSAS (Accrual Basis)

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Program overview:

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.

For whom:

This program is a designed for those, who already have good knowledge and experience in finance & accounting field such as Accountants & Auditors, Financial Directors, Officers, and Executives & Analysts, and Professionals involved in reporting using or about to use IPSAS standards.

Learning objectives:

At the end of the program, participants will be able to;

Know and list Accrual Based IPSAS requirements for accounting policies and disclosures
Know and implement the IPSAS recognized standard rules for assets, liabilities, revenues and expenses in their organizations
List and discuss the IPSAS financial statements and related disclosures requirements
Manage issues that may arise when migrating from the cash basis to the accrual basis of accounting
Know and discuss the IPSAS standard transitional provisions
Plan for the likely future changes in IPSAS standards
Know the sources of available IPSAS guidance
Deploy key strategies for migration to Accrual Based IPSAS standards

Course outline:

Day 1: Introduction to IPSAS

Brief history, Scope of IPSASs, Sources of guidance,
Conceptual Framework
Presentation and Disclosure

Day 2: Understand Accrual Based IPSAS requirements, including accounting policies and disclosures

Overview of Accruals Basis IPSAS
Implement the IPSAS recognition and measurement rules for assets, liabilities, revenues and expenses

Day 3: First Time Adoption, Transition and Implementation

Overview of Cash Basis IPSAS
PSAS vs. IFRS Comparison
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

Day 4: IPSAS – Financial Instruments
Increase planning opportunities through awareness of likely future
IPSAS changes
The sources of IPSAS guidance that is available

Day 5: Recommended Practice Guidelines

RPG 1 Reporting on the Long-Term Sustainability of an Entity’s Finances
RPG 2 Financial Statement Discussions and Analysis
RPG 3 Reporting Service Performance Information
- Transitioning to the Accrual Basis of Accounting
- Overview of IPSAS 33 First-Time Adoption of Accrual Basis IPSASs
- Transitioning paths

Note: There will be London city tour on day 5

The Course Package: Includes: Course material in soft copy, Tea break, Lunch, City tour, and certificate of attendance. A laptop with the soft copy of the course material loaded with a carrying bag will be presented to the participants at the end of the course.

Note: Payment is either U$D or the prevailing parallel market rate. We do not accept government official rate.

Training Methodology