IPSAS - Current Assets (online)

Course code: 3903e


This basic level module on long-term assets provides an overview of the most important accounting requirements and reporting requirements for inventories under the Accrual Basis IPSAS.

IPSAS 12 prescribes the accounting treatment for inventories, with guidance on the determination of costs and its subsequent recognition as an expense, including any write-down to net realizable value/current replacement cost. It also provides guidance on the cost formulas used to assign costs to inventories.

The IPSAS accounting and disclosure requirements stipulated in IPSAS 12 are explained in clear, simple language and illustrated with model financial statements and real-world examples.

This module answers questions such as:

  • What is the difference between inventory and property, plant and equipment (IPSAS 17)?
  • How to identify when items of inventories qualify for recognition in financial statements
  • How to calculate the cost of inventories and to identify when an item of inventory is to be recognised as an expense?
  • How to account for inventories held for sale?
  • How to account for inventories held for distribution at no or nominal charge?
  • What disclosure requirements are stipulated in IPSAS 12 for inventory?
  • What significant professional judgements that are required in accounting for inventories?

How does a self-study module work?

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How does an instructor-led course work?

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IPSAS Online
Frequently Asked Questions

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IASeminars IPSAS Online courses


  • IPSAS 12 Inventories
    • Public sector entity inventories
    • Inventories held for sale
    • Inventories held for distribution at no or nominal charge
    • Costs included in inventory
    • Expensing inventory
    • Inventory disclosures

Teaching method

This is a self-study online module and usually takes 1-3 hours to complete. 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.

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IPSAS Online
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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 the key items of inventory
  • Learn the recognition and measurement: inventory valuation methods, net realisable value concept
  • Appreciate inventory year-end valuation
  • Understand key disclosure requirements
  • Discussion on practical implementation challenges

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.


  • Self Study

    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.

In House

To bring this course in-house please contact us and we will be pleased to assist

Course details

Course schedule

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1 Aug 2018 Online

Course level:
Start date:
1 Aug 2018
Finish date:
30 Aug 2018
GBP 99
Subject to Sales tax for all course purchases made in the UK, and Canada. (Read more)
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