IPSAS® have been developed to enhance the quality, consistency and transparency of public sector financial reporting worldwide. Issued by the International Public Sector Accounting Standards Board (IPSASB), they are cash-based standards and accruals standards used for the preparation of general purpose financial statements by governments and other public sector entities around the world.

Course Outline

FINANCIAL STATEMENT PRESENTATION AND ACCOUNTING POLICY

 

Develops an overview of:

  • Financial statements (IPSAS 1)

  • Cash flow statements (IPSAS 2)

  • Accounting policies, changes in accounting estimates, and errors (IPSAS 3)

 

FINANCIAL PERFORMANCE

 

Provides an understanding of:

  • Non-exchange revenue (IPSAS 23)

  • Exchange revenue (IPSAS 9)

  • Construction contracts (IPSAS 11)

 

ACCOUNTING FOR ASSETS AND LIABILITIES

 

Delivers teaching around a wide range of topics including:

  • Property plant and equipment (IPSAS 17)

  • Intangible assets (IPSAS 31)

  • Investment property (IPSAS 16)

  • Impairment of cash generating assets (IPSAS 26)

  • Impairment of non-cash generating assets (IPSAS 21)

  • Borrowing costs (IPSAS 5)

  • Inventories (IPSAS 12)

  • Leases (IPSAS 13)

  • Financial instruments (IPSAS 28, 29, 30)

  • Provisions

  • Contingent liabilities and contingent assets (IPSAS 19)

  • Events after the reporting date (IPSAS 14)

  • Employee benefits (IPSAS 25)

  • Agriculture (IPSAS 27)

 

CONSOLIDATION

 

Delivers training around:

  • Consolidated and separate financial statements (IPSAS 6)

  • Interests in joint ventures (IPSAS 8)

  • Investments in associates (IPSAS 7)

  • Translation of financial statements of foreign operations (IPSAS 4)

  • Financial reporting in hyperinflationary economies (IPSAS 10)

  • Disclosure standards and other topics, presentation of budget information (IPSAS 24)

  • Segment reporting (IPSAS 18)

  • Related party disclosures (IPSAS 20)

  • Disclosure of financial information about the general government sector (IPSAS 22)

  • Service concessions (IPSAS 32)

 

CASH BASIS IPSAS

 

Teaches students about Part 1 of the cash basis IPSAS, covering required information in:

  • The statement of cash receipts and

  • Payments

  • Disclosures

  • Consolidation under the cash basis

  • Presentation of budget information in the financial statements

  • The additional (non-mandatory) disclosures encouraged in Part 2 of the cash basis IPSAS

 

FIRST-TIME ADOPTION OF ACCRUAL-BASED IPSAS

 

Delivers training cover the following areas:

  • Migrating from cash to accrual basis

  • First time adoption of IPSAS (IPSAS 33)

  • Change management and the adoption of IPSAS

 

FORTHCOMING PROPOSALS FOR CHANGE

 

Teaches students about Public sector financial crisis and IPSAS, IPSASB’s strategic direction and forthcoming proposals from the IPSASB.