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

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:

• List and explain Accrual Based IPSAS requirements for accounting policies and disclosures;
• 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;
• discuss the IPSAS standard transitional provisions;
• plan for the likely future changes in IPSAS standards;
• know the available sources of IPSAS guidance; and
• 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

Training Methodology

Lectures, discussions, exercises, and case studies will be used to reinforce these teaching/learning methods.