IPSAS Training Course

£1,500.00 £650.00

Course 3011: IPSAS Fundamentals - Comprehensive Workshop (8 days)

CPD:                   40 Hours


Start date:           Runs every week To be arranged


Price:                  GBP 580, Dollars 750 Subject to UK VAT
Price inclusive of VAT

Course introduction.

This eight-day course provides an overview of the most important requirements forpreparing
financial statementsand disclosures under accrual basis IPSASs. The program has been fully updated
to follow the most recent IPSAS Handbook and incorporates standards issued in 2016 and 2017.

Accounting and disclosure requirements are explained in clear, simple language and illustrated with
model financial statements and real-world examples.

Application of the various standards is illustrated through the use of short case studies.

In addition to a review of current accrual basis IPSASs, our specialist instructors provide
guidance on transitioning to the accrual basis. Course delegates also receive up-to-date
information on the IPSASB’s Work Plan, including current Exposure Drafts and Consultation Papers.


This program answers questions such as:

  • What are the current requirements for presentation of accrual basis IPSAS financial statements and
    related disclosures?
  • Where can guidance on IPSASs be found? How have the IPSASs recently changed?
  • What are the likely future requirements of IPSASs?
  • What practical issues commonly arise when implementing IPSASs?
  • What are the recommendations for transitioning from the cash to the accrual basis of accounting?

Many IPSASs are based on the International Financial Reporting Standards International Financial
Reporting Standards (IFRSs) issued by the International Accounting Standards Board (IASB). IPSASB
adapts IFRS to a public sector context when appropriate. In undertaking that process, the IPSASB
attempts, wherever possible, to maintain the accounting treatment and original text of the IFRS
unless there is a significant public sector issue which   warrants a departure. Other IPSASs have
been developed to meet issues specific to the public sector, such as non- exchange transactions.

A number of countries have transformed their accounting systems to accrual accounting based on
IPSASs. Several other countries have adopted the Cash Basis IPSAS as a first step to future full
accrual basis accounting. The European Commission (EC), the International Federation of Accountants
(IFAC), and the Organization for Economic Co-Operation and Development (OECD) apply IPSASs. The
United Nations (including all their agencies) are currently in the process of completing the
transition to IPSASs.

Topic

Introduction to IPSASs 

  •   Brief History
  • Scope of IPSASs
  • Sources of guidance
  • Conceptual Framework
2. Presentation and Disclosure
  • IPSAS 1 Presentation of Financial Statements 
  • Required financial statements
  • Structure
  • Content
  • IPSAS 2 Cash Flow Statements
  • Cash and cash equivalents
  • Operating, investing and financing activities
  • IPSAS 3 Accounting Policies, Changes in Accounting Estimates and Errors
3.Non-current Assets
  • IPSAS 17 Property, Plant and Equipment
    • Initial recognition
    • Subsequent valuation
    • Depreciation
    • Treatment of infrastructure and heritage assets
  • IPSAS 16 Investment Property
    • Initial recognition
    • Subsequent valuation
    • Transitional provisions for initial adoption
  • IPSAS 31 Intangible Assets
    • Identifying relevant intangible assets and their initial recognition
    • Measurement
  • IPSAS 21 & 26 Impairment of Non-Cash-Generating Assets & Impairment of Cash-Generating Assets
    • Impairment identification
    • Recognition and measurement
    • Reversals of past impairments
    • Disclosure requirements 
    4.Revenues & Related Costs
  • IPSAS 23 Revenue from Non-Exchange Transactions (Taxes and Transfers)
  • Recognition and measurement of tax revenue
  • Recognition of revenue from transfers
  • Reflecting conditions and restrictions in the financial statements
  • IPSAS 9 Revenue from Exchange Transactions
  • Accounting treatment for exchange transactions
  • IPSAS 12 Inventories
  • Public sector entity inventories
  • Inventories held for distribution at no or nominal charge
5.Liabilities and Expenses
  • General expense recognition principles and application to donations given
  • IPSAS 19 Provisions, Contingent Liabilities and Contingent Assets
  • Definitions
  • Recognition and measurement
  • Disclosures
    1. IPSAS 25 Employee Benefits
      • Short and long-term benefits
      • Recognition, measurement of pension obligations
      • Update on IPSAS 39 - replacing IPSAS 25 in 2018 
      7.Financing and Financial Instruments
    • IPSAS 13 Leases
      • Lessee and lessor financial reporting requirements
    • IPSAS 32 Service Concession Arrangements
    • IPSAS 4 The Effects of Changes in Foreign Exchange Rates
      • Foreign currency transactions
      • Foreign operations
    • Financial Instruments
      • IPSAS 28 Financial Instruments Presentation
      • IPSAS 29 Financial Instruments: Recognition and Measurement
      • IPSAS 30 Financial Instruments: Disclosures
  • Consolidations and Interests in Other Entities
    • IPSAS 35 Consolidated Financial Statements - Accounting for Controlled Entities
      • Consolidation boundaries and concepts of public sector control
      • Consolidation requirements
    • IPSAS 36 Accounting for Investments in Associates and Joint Ventures
      • Equity method of accounting
      • Cost method requirements
    • IPSAS 37 Accounting for Joint Arrangements
      • Distinguishing joint ventures from joint operations
      • Equity and joint operations accounting
    • IPSAS 40 Public Sector Combinations
      • Requirements of new standard for 2019
  • Other Presentation and Disclosure Standards
    • IPSAS 18 Segment Reporting
      • Distinguishable activities
    • IPSAS 20 Related Party Disclosures
      • Identification of related parties
      • Disclosure requirements
    • IPSAS 24 Presentation of Budget Information in Financial Statements
      • Required disclosures
      • Comparison of budget and actual amounts
      • Material differences
  • Recommended Practice Guidelines
    • RPG 1 Reporting on the Long-Term Sustainability of an Entity’s Finances
    • RPG 2 Financial Statement Discussion 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
  • Transition paths

Teaching method

  • Group live instruction with interactive participation encouraged
  • Review of the rationale, objective and scope of IPSAS
  • Description and explanation of IPSAS requirements in clear and simple language
  • Use of case studies and real-world examples to illustrate practical application of the standards
  • Interactive participation will be encouraged
  • All participants receive a comprehensive binder containing copies of the presentation slides, handouts and other course materials

Prerequisites

Understanding of basic accounting principles based on any national standards in the public or private sector. No advance preparation is required for this course.

Course benefits

  • Understand Accrual Based IPSAS requirements, including accounting policies and disclosures
  • Implement the IPSAS recognition and measurement rules for assets, liabilities, revenues and expenses
  • Learn the 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
  • Increase planning opportunities through awareness of likely future IPSAS changes
  • Learn the sources of IPSAS guidance that are available

Testimonials

See what past participants said about this course:

"Very high value for future commitments".

Fabio Ciofi, Italy

"Bsoedu has assisted in refreshing standards and policies I had long forgotten. Good experience and important training which will help my career and my contribution to helping my organization achieve their objectives".

Ikenna Raphael Iwuchukwu, Finance analyst,
International Organization for Migration, Nigeria


"My expectations were all met and I am leaving this place a better and well prepared person to adopt IPSAS in 2017."

Ayi Yakubu Zakariah, Head/Accounts,
National Petroleum Authority, Ghana


"Bsoedu is best in all respects. The training has improved my knowledge on IPSAS greatly. This will give me opportunity to make recommendations for implementation in our institution".

Joseph Kiprotich, Senior Accountant,
Moi University, Kenya

"Bsoedu on IPSAS fundamentals is really an eye opener to better understanding of the application of IPSAS not only to first time adoptors but to those who have already adopted IPSAS".

Harriet Asomani, Director Finanace & IT,
Marie Stopes International, Ghana


"The training has improved my financial knowledge about IPSAS because the instructor was up to task. This will help me to assist my organisation in the transition process".


Sharon Bannerman, Deputy Head, Payroll,
University of Education, Winneba

Who should attend?

  • Finance and accounting managers of public sector entities considering to adopt IPSAS
  • Government officials and project managers responsible for IPSAS transition
  • Accountants and finance staff of public sector entities and similar agencies (e.g. UN) in the process of adopting IPSAS
  • Accountants and finance staff moving from private to public sector environments
  • Internal auditors of entities that have adopted IPSAS or are in the process of doing so
  • Accounting practitioners, consultants and external auditors
  • Accounting academics
Venue

Our London seminars take place in 4 star professional conference facilities, generally in
city-centre hotels like the Marriott, Sheraton or Hilton brands. Detailed Joining Instructions are
sent to all registered delegates by email approximately one month before the event. The Joining
Instructions will confirm exact venue details and nearby (or onsite) hotel recommendations with
bedroom rates where available. Coffee and lunch will be provided.


Payment Method

Please pay to
Barclays Bank England

IBAN:GB96BARC20925473056848
Acct Number: 73056848 Sort code:20-92-54


For further details please call 01438232056