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Certificate in IPSAS
Accrual Accounting for Public Sector

Rating:
4.9
English
Intermediate
7 Nasba
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Course Overview

The recent financial crisis and associated financial safeguards implemented across all business sectors have seen even greater pressures exerted on public budgets with governments and public sector entities encountering growing pressure to provide high-quality transparent financial statements, clear and decisive financial management approaches and enhanced operational allocation and performance measures related to public funds. IPSAS (International Public Sector Accounting Standards) provides a sounds basis for public entities to demonstrate sound accrual accounting and budgeting techniques, and with its emphasis on performance-based management being a core competency, requires entities to adopt a fresh and innovative approach to developing new skill sets.

Key Takeaways

1
Improved knowledge and understanding of the global trends for public sector accountability and reporting.
2
Practical understanding of the transition challenges and approaches in moving to Internationally accepted reporting norms such as IPSAS.
3
Apply IPSAS standards to ensure Improved Accountability via providing a complete and accurate view of an entities operations and performance.
4
Achieve Greater Transparency within your entity regarding your use of primary resources and resulting liabilities.
5
Achieve greater harmony within the entityu2019s reporting and financial statements as a way to encourage and enhance organisational goal congruence.

National Association of State Boards of Accountancy
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LEORON Professional Development Institute DMCC is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.NASBARegistry.org

Course Outline

DAY ONE
IPSAS – Overview and Context
Summary of current events in the area of public sector accountability and reporting What IFAC and the IPSASB is all about Discussion on the current status of the global adoption of IPSAS cash and accrual based standards – countries that have adopted and countries in the process of adoption
IPSAS – Concepts and Core Principles
Summary of current events in the area of public sector accountability and reporting IPSAS principle based approach compared to rules based approach Core concepts of assets, liabilities, equity
IPSAS – Implementation Challenges
How to best use lessons from the private sector Implementation issues and practical solutions UK central government – transition to accrua
IPSAS Cash
Core concepts and principles Scope of standards Application of IPSAS Cash IPSAS Cash / Modified Cash (not IPSAS compliant) and how to transition to full accrual based IPSAS
Presentation of Financial Statements (IPSAS 1 / IAS 1)
Required financial statements Structure Content
Accounting Policies, Changes in Accounting Estimates and Errors (IPSAS 3 / IAS 8)
Selection of accounting policies Changes in accounting estimates Changes in accounting policies Correction of errors Items requiring separate financial statement disclosure
INTRODUCTION: Classification as Inventory or Property, Plant and Equipment
Core concepts and principles Capitalisation thresholds Practical application of grouping assets for capitalisation threshold
DAY TWO
Inventories (IPSAS 12/IAS 2)
Public sector entity inventories Inventories held for sale Inventories held for distribution at no or nominal charge
Property, Plant and Equipment (IPSAS 17/IAS 16)
Initial recognition Subsequent valuation Depreciation Treatment of assets acquired in a non-exchange transaction Treatment of heritage assets
Intangible Assets (IPSAS 31/IAS 38)
Initial recognition Subsequent valuation Public sector issues
Borrowing Costs (IPSAS 5/IAS 23)
Expensing Capitalisation
DAY THREE
Investment Property (IPSAS 16/ IAS 40)
Initial recognition Subsequent valuation Transitional provisions for initial adopti
Cash Flow Statements (IPSAS 2/ IAS7)
Cash and cash equivalents Operating, investing and financing activities
Service Concession Arrangements: Grantor (IPSAS 32)
Core concepts and principles Accounting treatment
Leases (IPSAS 13/ IAS 17)
Lessee and lessor financial reporting requirements Sale and leaseback transactions
DAY FOUR
Impairment of Cash-Generating Assets (IPSAS 26/ IAS 36)
Definitions Identifying an asset that may be Impaired Measuring recoverable amount Recognizing and measuring an impairment loss of an individual asset Cash-generating units Reversing an impairment loss Disclosure Income statement issues
Impairment of Non-Cash-Generating Assets (IPSAS 21)
Impairment identification Recognition and measurement Impairment reversals Disclosure requirements
Revenue from Exchange Transactions (IPSAS 9/ IAS 8 or IFRS 15)
Accounting treatment for exchange transactions
Revenue from Non-Exchange Transactions (Taxes and Transfers) (IPSAS 23)
Recognition and measurement of tax revenue Recognition of revenue from transfers Reflecting conditions and restrictions in the financial statements
Construction Contracts (IPSAS 11/ IAS 11 or IFRS 15)
Commercial and non-commercial contracts Allocation of contract costs Contract revenue recognition Associates and joint ventures
Presentation of Budget Information in Financial Statements (IPSAS 24)
Required disclosures Comparison of budget and actual amounts Material differences; Assets and liabilities
DAY FIVE
Provisions, Contingent Liabilities and Contingent Assets (IPSAS 19/IAS 37)
Definitions Recognition and measurement Disclosures
Employee Benefits (IPSAS 25/ IAS 19)
Definitions Short-term employee benefits Postemployment benefits Distinction between defined contribution plans and defined benefit plans Recognition and measurement of plan assets Termination benefits Presentation and disclosure
Financial Instruments: Disclosure and Presentation (IPSAS 15/IFRS 9)
Core issues relevant in the public sector (excluding financial services area) Financial assets, liabilities or equity classification
Overview of Consolidation Process, Group Accounts, Investments in Associates and Joint Ventures (IPSAS 6, 7&8 / IAS 28, 31 & IFRS 10)
Concepts of public sector controlEquity method accounting When to use joint venture accounting (rare in public sector)Determining whether control exists
Disclosure of Financial Information about the General Government Sector (IPSAS 22)
Disclosure requirements
Events after the Reporting Date (IPSAS 14/IAS 10)
Adjusting events Non-adjusting events
Segment Reporting (IPSAS 18/IFRS 8)
Distinguishable activities
Related Party Disclosures (IPSAS 20/IAS 24)
Identification of related parties Disclosure requirements
Service Concession Arrangements: Grantor (IPSAS 32)
Core concepts and principles Financial liability model Grant of a right to the operator model Arrangements outside the scope where IPSAS 13 may apply Postemployment benefit

Who Should Attend?

This highly practical and interactive course has been specifically designed for
Organisations seeking improved credibility in the international arena with improving fiscal transparency and accountability
Organisations, including governments and public sector entities, that are currently implementing or considering implementing IPSAS as a basis for accounting
Organisations wishing to gain an overview of IPSAS and understand what implications adopting these standards may have on their organisation
Financial professionals operating within the finance departments of public entities
Increasing your staff awareness about IPSAS through considering the benefits and challenges associated

FAQ

What language will the course be taught in and what level of English do I need to take part in an LEORON training program?
Most of our public courses are delivered in English language. You need to be proficient in English to be able to fully participate in the workshop and network with other delegates. For in-house courses we have the capability to train in Arabic, Dutch, German and Portuguese.
Are LEORON Public courses certified by an official body/organization?
LEORON Institute partners with 20+ international bodies and associations.We also award continuing professional development credits (CPE/PDUs) for:1. NASBA (National Association of State Boards of Accountancy) 2. Project Management Institute PDUs 3. CISI credits 4. GARP credits 5. HRCI recertification credits 6. SHRM recertification credits
What is the deadline for registering to a public course?
The deadline to register for a public course is 14 days before the course starts. Kindly note that occasionally we do accept late registrations as well, but this needs to be confirmed with the project manager of the training program or with our registration desk that can be reached at +1071 4 1075 5711 or register@leoron.com.
What does the course fee cover?
The course fee covers a premium training experience in a 5-star hotel, learning materials, lunches & refreshments, and for some courses, the certification fee and membership with the accrediting bodies.
Does LEORON give discounts?
Yes, we can provide discounts for group bookings. If you would like to discuss a discount on a corporate level, we will be happy to talk to you.

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