IPSAS - Long-Term (Non-Current) Assets (online)
This basic level module on long-term assets provides an overview of the most important accounting requirements and reporting requirements on assets under the Accrual Basis IPSAS. A number of assets and liabilities of public sector entities are acquired, or incurred, as a result of the entity’s service delivery mandate. One example could be heritage assets maintained for public access. IPSAS therefore includes the concept of service potential into its definition of assets.
This module describes and explains the IPSAS recognition, measurement and disclosure requirements for long-term assets in clear, simple language and illustrated with model financial statements and real-world examples. Application of the various standards is also illustrated through the use of short case studies.
This module answers questions such as:
- When a long-term assets, both tangible and intangible, should be recognized?
- Which costs should be capitalized?
- What measurement rules can be applied for tangible and intangible assets?
- When and how to recognize losses in value for both tangible and intangible assets?
- What are the differences in accounting for impairment for cash vs. non-cash generating assets?
- How to identify and account for investment property?
- What are the disclosure requirements for property plant and equipment, intangible assets, investment property and impairment?
- Property, Plant and Equipment (IPSAS 17)
- Definition and Scope of IPSAS 17
- Subsequent Measurement of PP&E
- Disclosures Related to PP&E
- Borrowing Costs (IPSAS 5)
- Accounting Options for Borrowing Costs
- Disclosures Related to Borrowing Costs
- Intangible assets (IPSAS 31)
- Definition and Scope of IPSAS 31
- Elements of Initial Cost
- Subsequent Measurement of Intangible Assets
- Disclosures Related to Intangible Assets
- Investment Property (IPSAS 16)
- Definition and Scope of IPSAS 16
- Initial Recognition of Investment Property
- Subsequent Measurement of Investment Property
- Disclosures Related to Investment Property
- Impairment (IPSAS 21 and IPSAS 26)
- Definition and Scope of Impairment (IPSAS 21 and IPSAS 26)
- Impairment Process
- Disclosures Related to Impairment
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
Free Sampler Module
Understanding of basic accounting principles based on any national standards in the public sector. No advance preparation is required for this course.
- Know when a long term asset should be recognised
- Learn which costs should be capitalised
- Determine when and how to recognise losses in value
- Learn how property, plant and equipment, intangibles and property investment should appear on the statement of financial position.
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