The British Academy for Training and Development offers a professional training course in International Public Sector Accounting Standards (IPSAS). IPSAS was developed to improve the quality, consistency and transparency of public sector financial reporting worldwide and is published by the International Public Sector Accounting Standards Board (IPSASB). This course will enable participants to understand IPSAS and public-sector accounting frameworks. This training provides an overview of the key requirements for preparing IPSAS financial statements and disclosures. This training course will help the participant overcome challenges in applying her IPSAS and provide best practices to achieve organizational goals.

Who should attend? 

• Heads of Departments, Directors, Senior Managers, Managers, accountants and Accountants and Financial Professionals.
• Members of Audit and Advisory Boards of Public/Private Sector Organizations.
• Senior National, Regional and Local Government Officials.
• New or aspiring Board members.
• Mangers in the regulators, state, and local government.
• Business Consultants and professional advisers.

How attendees will benefit? 

After completion of the course, delegates will understand: 

• Identify how IPSASs fit for your organization.
• Understand the value of core IPSASs.
• Explain key differences in the new standard.
• Recognize what a statement of compliance will look like.
• To migrate to IPSASs standards.
• Clarify implementation procedures.
• Requirements, including accounting policies, to adopt IPSAS disclosures.

Introduction to IPSASB:

• Introduction to the IPSASB Regulatory Environment and Structure.
• Objectives of annual accounts and all ongoing projects.
• financial accounting background.
• Core Principles of Global Accounting Standards.
• Development of global accounting standards.
• Underlying financial principles.
• Aspects of Disclosure and Transparency.
• International Financial Reporting Standards (IFRS).
• Generally Accepted Accounting Principles (GAAP).
• Current worldwide implementation of global accounting standards.

IPSAS Standards:

• Strategic planning process roadmap.
• Mapping of regional standards to global accounting standards.
• Review of current IPSAS standards.
• Correct application of individual IPSAS standards.
• Overcome important challenges.
• Seek guidance and assistance from the International Federation of Accountants.
• Key IPSAS Requirements in Financial Statements (IPSAS 1).
• Create a balance sheet.
• Income statement preparation.
• Preparation of Cash Flow Statement (IPSAS 2).

IPSAS Financial Performance:

• Understanding of: Non-Exchange Revenue (IPSAS 23).
• Exchange Sales (IPSAS 9).
• Construction Contracts (IPSAS 11).
• Accounting for Assets and Liabilities: Property, Plant and Equipment (IPSAS 17).
• Intangibles Assets (IPSAS 31).
• Investments (IPSAS 16).
• Impairment of cash-generating assets (IPSAS 26).
• Impairment of non-cash-generating assets (IPSAS 21).
• Borrowing costs (IPSAS 5): Inventories (IPSAS 12).

Consolidated:

• Consolidated and Separate Financial Statements (IPSAS 6).
• Investments in Joint Ventures (IPSAS 8).
• Investments in Affiliates (IPSAS 7).
• Translation of Financial Statements of Foreign Operations (IPSAS 4).
• Economics ( IPSAS 10).
• Disclosure Standards and Presentation of Budgetary Information (IPSAS 24).
• Segment Reporting (IPSAS 18).
• Related Party Disclosures (IPSAS 20).
• Financial Disclosures (IPSAS 22).
• Service Concessions (IPSAS 32).

Cash-based IPSAS and first applications:

• List of cash receipts and payments.
• Disclosure.
• Consolidation on a cash basis.
• Displaying Budget Information in Annual Financial Statements.
• Additional disclosures are recommended in Part 2 of the cash basis IPSASs.
• Moving from cash to accrual.
• First application of IPSAS (IPSAS 33).
• IPSAS Change Management and Enforcement.