IPSAS - For Revenues (1 day)

Course code: 3220


This one-day course provides an overview of the most important requirements for accounting for revenues under IPSAS. It focuses upon the application of IPSAS 23 Revenue from Non-exchange Transactions, where it considers issues relevant to recognition of taxes by government entities and the receipt and grant of donated goods and services, including assessed contributions, program and voluntary funds by other public bodies. Other areas covered include concessionary loans, the impact of principal or agent status on the recognition of revenues and expenses, IPSAS 9 Revenue from Exchange Transactions and IPSAS 11 Construction Contracts. The course also considers sources of guidance for recognition of expenses from non-exchange transactions, for example, by providers of grants and donated goods and services.

The IPSAS accounting, financial reporting and disclosure requirements are explained in clear, simple language and illustrated with model financial statements and real-world examples. Application of the various applicable standards is illustrated through the use of short case studies.

In addition to a review of current IPSAS, the course covers the IPSASB’s Consultation Paper Accounting for Revenue and Non-Exchange Expenses. This is the first stage of a longer-term project to improve guidance on accounting for all types of revenue and non-exchange expenses.

This program answers questions such as:

  • What are the current requirements for presentation of accrual-based IPSAS financial statements and related disclosures in terms of revenue?
  • What revenue and expense recognition challenges have been observed within public sector entities that have adopted IPSAS?
  • What disclosures are made by public sector entities that have adopted IPSAS in regards to revenues and expenses?
  • What is the difference between exchange and non-exchange revenue?
  • Where can guidance for unique revenue recognition situations be found?
  • What guidance is there to draw on to distinguish between revenue generated as a principal and revenue generated as an agent?
  • What guidance is available on expense recognition in IPSAS?
  • What upcoming changes are anticipated in accounting for revenue and non-exchange expenses?


  • Introduction to IPSAS
    • The IPSASB Conceptual Framework and its core definitions in relation to revenue and non-exchange expenditure
  • IPSAS 23 Revenue from Non-Exchange Transactions (Taxes and Transfers)
    • Nature of non-exchange transactions and scope of standard
    • Distinguishing contributions direct to net assets from revenue transactions
    • Transactions that include both exchange and non-exchange elements
    • General principles; when to recognise assets in relation to non-exchange revenues and should the credit entry be recognised as a liability or revenue?
    • Distinguishing between restrictions and conditions; practical applications
    • Recognition and measurement of tax revenue; practical applications
    • Recognition of revenue from specific types of transfers
    • Recognition of donated services; distinguishing services receivable from goods, whether or not to recognise them
    • Recognition of concessionary loans and waivers; interaction with IPSAS 29
    • Required presentation and disclosure of non-exchange revenue
    • Optional transitional requirements for first time adopters
    • Subsequent collectability of receivables, interaction with IPSAS 29, impairment
    • Relevance of IAS 20 Government Grants to public entities reporting under IPSAS
  • IPSAS 9 Revenue from Exchange Transactions
    • Nature and frequency of exchange transactions in the public sector
    • Identifying exchange transactions
    • Accounting principles
    • Specific accounting treatments
    • Disclosures
    • Comparison with IAS 18
  • IPSAS 11 Construction Contracts
    • Identifying entities and transactions within the scope of IPSAS 11
    • Measuring revenue by stage of completion; revenue and profit recognition
    • Accounting principles; recognition and measurement of contract assets and contract liabilities
    • Accounting for variations
    • Presentation and disclosure
    • Comparison of IPSAS 9 and IPSAS 11 to IFRS 15
  • Non-exchange expense recognition
    • Principles to be considered in relation to the recognition and measurement of liabilities and expenses incurred when making grants and donations
    • Update on considerations from the IPSASB and review of other relevant authoritative guidance to consider
  • Guidance materials on principal-agent transaction and the impact on revenue and expense recognition
  • Consultation Paper: Accounting for Revenue and Non-Exchange Expenses

Teaching method

  • Group live instruction with interactive participation encouraged
  • Review of the rationale, objective and scope of IPSAS
  • Description and explanation of IPSAS requirements in clear and simple language
  • Use of case studies and real-world examples to illustrate practical application of the standards
  • Interactive participation will be encouraged
  • All participants receive a comprehensive binder containing copies of the presentation slides, handouts and other course materials


Understanding of basic accounting principles based on any national standards in the public sector. No advance preparation is required for this course.

Course benefits

  • Understand Accrual Based IPSAS requirements, including accounting policy requirements and disclosures with a focus on revenues
  • Implement the IPSAS recognition and measurement rules for revenues
  • Plan ahead for issues that arise when transitioning from the cash basis to the accrual basis of accounting pertaining to revenues
  • Understand the key challenges of IPSAS compliant financial reporting on revenues
  • Understand how other public sector entities are reporting and disclosing revenues
  • Increase planning opportunities through awareness of likely future IPSAS changes
  • Learn the sources of IPSAS guidance that are available

Who should attend?

Individuals with interests in or responsibilities for revenue accounting in the public sector including:

  • Staff of central government treasury departments, tax collection departments for central and local government and related agencies
  • Finance and accounting managers
  • Staff with credit control responsibilities
  • Officers with responsibility for managing and collecting grant and programme income
  • Government officials and project managers responsible for IPSAS transition
  • Accountants and finance staff of entities in the process of adopting IPSAS
  • Auditors of entities that have adopted IPSAS or are in the process of doing so
  • Accounting academics

CPE / CPD Accreditation


IASeminars is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.nasbaregistry.org. 

Field of study: Accounting

ICAEW Partner in Learning

IASeminars is proud to have been named as an ICAEW Partner in Learning, working together to offer the ICAEW IFRS Certificate to our clients worldwide. ICAEW (The Institute of Chartered Accountants in England and Wales) is a world leading professional membership organisation that promotes, develops and supports over 145,000 chartered accountants worldwide. CPE certificates obtained from attending IASeminars courses are an ideal way for ICAEW members and others to demonstrate their continuing professional development, provided that the topic is relevant to their learning and development needs.

Texas State Board of Public Accountancy

IASeminars is registered with the Texas State Board of Public Accountancy as a CPE sponsor. Our CPE Sponsor ID is: 009689. This registration does not constitute an endorsement by the Board as to the quality of our CPE Program.


  • Our Geneva seminars take place in 4 star professional conference facilities, generally in city-centre hotels like the Marriott, Sheraton or Hilton brands. Detailed Joining Instructions are sent to all registered delegates by email approximately one month before the event. The Joining Instructions will confirm exact venue details and nearby (or onsite) hotel recommendations with bedroom rates where available. Coffee and lunch will be provided.


  • Saket Modi

    Saket Modi is a London-based financial trainer and consultant with over 15 years of professional experience. He specialises in delivering courses on advanced accounting, financial reporting and financial analysis topics, particularly with regards to International Financial Reporting Standards (IFRS), International Public Sector Accounting Standards (IPSAS), financial instruments and corporate finance. Saket has spent considerable time working, advising and training on complex IFRS matters - especially in relation to recognition and measurement of financial instruments. He has gained valuable experience working with both FTSE listed companies and also with Big 4 accounting firms. He has designed and facilitated workshops for banks and other financial institutions and also for corporates in the UK, Europe, Africa, Middle East and Asia, and was invited by the International Auditing and Assurance Standards Board® (IAASB®) to present a paper on IFRS 9 Financial Instruments at their board meeting in New York. Saket is a member of the Institute of Chartered Accountants of India, has completed the IFRS certificate course offered by the Institute of Chartered Accountants in England and Wales (ICAEW) and also holds the Diploma in IPSAS from the Chartered Institute of Public Finance and Accountancy (CIPFA). As well as being a qualified accountant, Saket is also a CFA® charterholder.

In House

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Course details

Course schedule

Select a start date for more details

22 Oct 2018 Geneva

Course level:
8 hours
Start date:
22 Oct 2018
Start time:
Finish date:
22 Oct 2018
Finish time:
GBP 950
EUR 1,200
Subject to No Tax (Read more)
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