IPSAS - The IPSASB Conceptual Framework and Key Accrual Accounting Concepts (online)
Principles based accrual accounting standards, such as IPSAS, are underpinned by a conceptual framework that provides the broad principles on which the accounting standards can be built. In addition the conceptual framework underpins the Recommended Practice Guidelines (RPGs) that are issued by the IPSASB.
The Conceptual Framework of the IPSASB has been developed over an eight year period and was published in full on 31 October 2014 with the title ‘The Conceptual Framework for General Purpose Financial Reporting by Public Sector Entities’.
An understanding of the Conceptual Framework is essential for anyone who wants to understand the basis of the requirements in IPSAS. In addition, when developing IPSAS-compliant accounting policies, an understanding of the conceptual framework is necessary.
This module answers questions such as:
- What is the background and scope of the Conceptual Framework?
- What is the role and authority of the Conceptual Framework?
- How does the Conceptual Framework approach and describe the objectives and users of the General Purpose Financial Reporting?
- What are the qualitative characteristics of the Framework and the constraints of information included in the GPFRs?
- How are the reporting entity, elements, recognition and measurement in financial statements as described in the Conceptual Framework?
- How are the presentation of information in GPFRs from the perspective of the Conceptual Framework?
- IPSAS Conceptual Framework
- Role and authority of the Framework
- Objectives and users
- Qualitative characteristics
- Reporting entity
- Elements in financial statements
- ‘Other resources’ and ‘other obligations’
- Net financial position
- Definitions of assets and liabilities
- Definitions of revenue and expenses
- Recognition in financial statements
This is a self-study online module. It includes interactive lessons, a case study, practice and final exams and, on passing the final exam you, will be awarded a CPE certificate.
All course content may be accessed through any device: desktop, laptop, tablet or smartphone so you can learn whenever and wherever you wish.
Watch a short course demonstration
Understanding of basic accounting principles based on any national standards in the public sector. No advance preparation is required for this course.
- Understand the background and scope of the conceptual framework
- Understand the role and authority of the Conceptual Framework and appreciate the relationship between the IPSAS and the Conceptual Framework
- Learn how the Conceptual Framework approaches and describes the objectives and users of the General Purpose Financial Reporting
- Understand the qualitative characteristics of the Framework and the constraints of information included in the GPFRs.
- Appreciate the reporting entity, elements, recognition and measurement in financial statements as described in the Conceptual Framework
- Understand the presentation of information in GPFRs from the perspective of the Conceptual Framework
Who should attend?
Participants who require a high level overview and awareness of the core IPSAS accruals based standards including:
- 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
- Operations mangers of public entities needing an awareness of public sector financial reporting
- Internal auditors of entities that have adopted IPSAS or are in the process of doing so
- Accounting practitioners, consultants and external auditors
- Analysts of public sector entities
- Our eLearning courses are designed to allow online interaction with our expert instructors, while covering the same content as our highly popular live training courses.
This module is designed as a self-study course and is not supported by an instructor. If you prefer instructor led online training you should choose our Course 3030e: IPSAS (Accrual Basis) - Basics online course.
To bring this course in-house please contact us and we will be pleased to assist