(IPSAS) - INTERNATIONAL PUBLIC SECTOR ACCOUNTING STANDARDS

TRAINING COURSE OVERVIEW

At DixonTech, traditional public sector accounting in today's economy is considered inadequate. There is a growing recognition of the necessity for a distinct model in business accounting that deviates significantly from private sector accounting practices. The recent incorporation of International Public Sector Accounting Standards (IPSAS) is pivotal in ensuring the quality and credibility of financial reporting, fostering public confidence.

This training course takes a comprehensive approach to understanding the intricacies of IPSAS guidelines and the new accounting framework for public sector entities. Delegates will gain insights from real case studies that address the challenges associated with financial reporting and disclosure requirements under IPSAS. Additionally, the course will incorporate innovative learning methods to enhance participants' understanding and practical application of IPSAS principles.

By the end of this training course, delegates will be able to:

• Understanding International Accounting Standards (IAS)
• Learning Generally Accepted Accounting Principles (GAAP)
• Developing IPSAS Strategies
• Implementing IPSAS standards
• Producing financial statements

TRAINING TOPICS

By the end of this training course, participants will be able to: 

• Understand the organizational of implementing IPSAS
• Comprehend the core IPSAS values.
• Explain the key differences in the new standards.
• Understand the financial reporting requirements under IPSAS.
• Set clear steps towards IPSAS implementation.
• Adopt the IPSAS disclosure requirements, including accounting policies.

TRAINING IS TAILORED TO

This DixonTech training course caters to a diverse audience but is particularly advantageous for:

• Board-level members aiming to enhance their comprehension of IPSAS

• Auditing professionals engaged with public sector organizations

 • Corporate governance directors

• Internal auditors

• Corporate compliance officials

• Professionals aspiring to deepen their understanding of public sector accounting methods

• Public sector finance and accounting personnel

The course is thoughtfully designed to accommodate various professional backgrounds and roles, providing valuable insights into the nuances of IPSAS and fostering a holistic understanding of public sector accounting practices.

TRAINING METHODOLOGY

This training course will utilise a variety of proven adult learning techniques to ensure maximum understanding, comprehension and retention of the information presented. This includes:

• Interactive Case Studies from the real world/delegates’ company
• Discussion and Evaluation of the latest international tools & techniques
• Role play
• Pre & Post Course Assessments

Participants will also be given a detailed set of handouts and examples in both printed and electronic format.

DAY ONE:

INTRODUCTION TO IPSASB AND IPSAS

• The challenges of accounting in the public sector
•  The characteristics of public sector entities
• Presentation of the Board (IPSASB)
• IPSASB organization
• The relationship between IPSASB and IPSAS
• The purpose of financial statements and any ongoing projects

DAY TWO:

FINANCIAL STATEMENTS PRESENTATION AND ACCOUNTING POLICY

• Key IPSAS requirements within financial statements: IPSAS 1
• Producing the statement of financial position
• Producing the cash flow statement: IPSAS 2
• Accounting policies, changes in accounting estimates, and errors: IPSAS 3
• Segment reporting: IPSAS 18
• Disclosure standards and other topics, presentation of budget information: IPSAS 24
• Reporting changes in net asset position
• Producing compliant notes to the accounts

DAY THREE:

FINANCIAL INFORMATION: REVENUES, CASH & BUDGET

• Non-exchange revenue: IPSAS-23
• Exchange revenue: IPSAS- 9
• Construction contracts: IPSAS- 11
• The statement of cash receipts and payments
• Presentation of budget information in the financial statements

DAY FOUR: 

ACCOUNTING FOR ASSETS AND LIABILITIES

• Investment property, Property plant and equipment: IPSAS- 16&17
• Intangible assets and impairment: IPSAS- 31, 21 & 26
• Inventories: IPSAS- 12
• Borrowing costs Leases: IPSAS-5 & 13
• Financial instruments: IPSAS- 28, 29&30
• Provisions & Contingent liabilities and contingent assets: IPSAS 19

DAY FIVE: 

DISCLOSURES AND CONSOLIDATION

• Disclosures
• Related party disclosures: IPSAS 20
• Disclosure of financial information about the general government sector: IPSAS 22
• Consolidation under the cash basis
• The additional (non-mandatory) disclosures
• Case studies