EXAM PREPARATION FOR ACCA INTERNATIONAL PUBLIC SECTOR ACCOUNTING STANDARDS (IPSAS)
Available Dates & Locations
COURSE OVERVIEW
Since 1997, the International Public Sector Accounting Standards Board (IPSASB) has developed and issued 38 accrual standards, and a cash basis standard for countries moving toward full accrual accounting. Governments that report on a cash-basis do not account for significant liabilities, such as pensions and infrastructure development; as a result, the IPSASB encourages public sector entities to adopt the accrual basis of accounting—which will improve financial management and increase transparency resulting in a more comprehensive and accurate view of a government’s financial position. Through our analysis of the standards, we will explore how to migrate an entity toward IPSAS compliance. The financial and sovereign debt crises emphasized the need for better financial reporting by governments worldwide, and the need for improvements in the management of public sector resources. In this course we will tackle the objectives and introduce the key steps that allow an entity to move toward meaningful reform, including the adoption and implementation of accrual accounting and International Public Sector Accounting Standards (IPSAS). Many governments, jurisdictions, and international institutions have already adopted IPSASs-many more are on the road to implementing the standards. This course will provide the knowledge and offer the skills needed to make the journey to IPSAS compliance.
COURSE OBJECTIVES
By completely attending this course, participants will be able to:
- Understand background and key characteristics of the public sector
- Understand IPSASs for accrual basis of accounting and cash basis
of accounting - Asses the strategy and work plan of the IPSASB
- Analyze the procedures for developing and reviewing accounting
standards
TARGET COMPETENCIES
- Cost-benefit Assessments for Implementation
- Implementing Recommended Practice Guidelines
- The Background Necessary for the Application of International Accounting Standards for the Public Sector
- The Accounting Treatments of Assets, Liabilities, Equity, Revenues, and Expenses Under IPSAS
Professionals looking to enhance their knowledge of International Public Sector Accounting Standards (IPSAS), Finance professionals looking for a refresher on International Public Sector Accounting Standards (IPSAS)
This course primarily relies on lecture and class discussion, although we also utilize in-class individual and group exercises to illustrate theory and practice relevant to financial decision-making regarding International Public Sector Accounting Standards (IPSAS). Class participants should bring a laptop to the course, preferably with Excel, and should have a basic familiarity with the workings of Excel software. Basic uses of Excel will be reviewed in class. A limited number of more advanced calculations will be explained in detail during the class.
