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IPSAS Training Course

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IPSAS Masterclass (10 days)

Course Details

Code:3002
Select a start date for more details
04 Nov - 15 Nov 2019
London
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Introduction

We have been offering 8-day Immersion Workshop courses on IFRS and IPSAS for 12 years. Recently however, attendees have told us that they would like more time to study the many topics and discuss issues with their instructors and fellow attendees.  

In response we are pleased to offer our IPSAS Masterclass, a 10-day course with shorter working days, designed to provide attendees with a more enjoyable and comfortable learning experience. And all with the added bonus of giving extra free time to enjoy the venue city!

The program answers questions such as:

  • What are the requirements for presenting accrual basis IPSAS financial statements and related disclosures?
  • Where can technical and practical guidance on IPSAS be found?
  • How can the recognition and measurement requirements be applied in practice?
  • What are the requirements for transitioning to the accrual basis of accounting?
  • How can we plan for, and implement, upcoming changes in IPSAS?

The comprehensive study packing includes:

  • Ten days of full tuition by senior instructors
  • Chromebook with course materials provided on USB
  • Full set of hard copy course materials, including case studies, illustrations and examples
  • 24-hour ticket for a local sightseeing bus tour
  • Lunch and refreshments on teaching days
  • Farewell dinner and group photographs
  • Ongoing, independent study – after the Masterclass we provide you with entry to the ACCA’s Cert IPSAS programme (6 months’ access to materials plus entry to online assessment).

About the training:

The International Public Sector Accounting Standards Board (IPSASB) publishes accounting standards and other guidance relating to the financial reporting needs of national, regional and local governments and other public sector bodies.

International Public Sector Accounting Standards (IPSASs) and Recommended Practice Guidelines (RPGs) provide authoritative guidance on accrual basis financial reporting. They exist to improve the quality of general purpose financial reporting by public sector entities, leading to better informed decisions about resource allocation and increased transparency and accountability.

Many IPSASs are largely consistent with International Financial Reporting Standards (IFRSs), issued by the International Accounting Standards Board (IASB). IPSASB adapts IFRSs to reflect the public sector’s circumstances, when appropriate. The Board also develops standards to deal specifically with public sector topics not addressed by IFRSs.

For public sector entities that do not apply accrual basis IPSAS, the Board has developed a single Standard, Cash Basis IPSAS. This may be seen as a stepping stone towards full accrual basis accounting. The Masterclass covers accrual basis IPSAS. If you are interested in Cash Basis IPSAS, we offer a two day program, Course 3050.  

The ten-day Masterclass is a comprehensive review of how to prepare IPSAS compliant financial statements. Its requirements will be explained clearly and illustrated with model financial statements and real-world examples. Application of the standards is reinforced through the use of short case studies and quizzes.

Our instructors will guide participants through transitioning to accrual basis IPSAS and on applying IPSAS 33 First-time Adoption of Accrual Basis IPSAS. They also receive an overview of the IPSASB’s Work Plan, including current Exposure Drafts and Consultation Papers.

Learning Objectives

  • Prepare IPSAS-compliant accrual basis financial statements.
  • Learn IPSAS presentation and disclosure requirements.
  • Implement IPSAS recognition and measurement rules for assets, liabilities, revenues and expenses.
  • Develop a plan for transitioning to the accrual basis of accounting.
  • Identify impact of upcoming changes in IPSASs.
  • Network and share experience with participants from across the world.
  • Chromebook for use during and after the course.
  • City tour and farewell dinner.
  • Access after the course to the ACCA’s Cert IPSAS materials and assessment.

Topics

  • Introduction to IPSASs
    • IPSASB and due process
  • Conceptual Framework
  • Presentation and Disclosures in Financial Statements
    • Presentation of Financial Statements (IPSAS 1)
    • Cash Flow Statements (IPSAS 2)
    • Accounting Policies, Changes in Accounting Estimates and Errors (IPSAS 3)
    • Events after the Reporting Date (IPSAS 14)
    • Performance and Service Reporting
      • Reporting on the Long-term Sustainability of an Entity’s Finances (RPG 1)
      • Financial Statement Discussion and Analysis (RPG 2)
      • Reporting Service Performance Information (RPG 3)
  • Non-financial Assets
    • Property, Plant and Equipment (IPSAS 17)
    • Borrowing Costs (IPSAS 5)
    • Investment Property (IPSAS 16)
    • Intangible Assets (IPSAS 31)
    • Impairment of Non-Cash-Generating Assets (IPSAS 21)
    • Impairment of Cash-Generating Assets (IPSAS 26)
    • Inventories (IPSAS 12)
  • Revenue
    • Revenue from Non-Exchange Transactions (IPSAS 23)
    • Revenue from Exchange Transactions (IPSAS 9)
    • Construction Contracts (IPSAS 11)
  • Liabilities and Expenses
    • What is a liability in the public sector?
      • Recognition of non-exchange expenses
      • Social Benefits (IPSAS 42)
    • Provisions, Contingent Liabilities and Contingent Assets (IPSAS 19)
    • Employee Benefits (IPSAS 39)
  • Financing and Financial Instruments
    • Leases (IPSAS 13)
    • Service Concession Arrangements (IPSAS 32)
    • The Effects of Changes in Foreign Exchange Rates (IPSAS 4)
  • Financial Instruments
    • Presentation (IPSAS 28)
    • Recognition and Measurement (IPSAS 29, IPSAS 41)
    • Disclosure (IPSAS 30)
  • Consolidations and Interests in Other Entities
    • Separate Financial Statements (IPSAS 34)
    • Consolidated Financial Statements (IPSAS 35)
    • Investments in Associates and Joint Ventures (IPSAS 36)
    • Joint Arrangements (IPSAS 37)
    • Disclosure of Interests in Other Entities (IPSAS 38)
    • Public Sector Combinations (IPSAS 40)
  • Other Presentation and Disclosure Standards
    • Segment Reporting (IPSAS 18)
    • Related Party Disclosures (IPSAS 20)
    • Presentation of Budget Information in Financial Statements (IPSAS 24)
    • Disclosure of Financial Information about the General Government Sector (IPSAS 22)
  • Transitioning to Accrual Basis IPSAS (IFRS 33)

Teaching Method

  • The Masterclass will consist of ten days of instruction and participation, separated by a weekend break. Note the working week in the following locations:
    • Europe & USA: Monday-Friday
    • UAE: Sunday-Thursday.
  • Group live instruction in an interactive workshop format, using cases, examples, group work, open discussions etc.
  • Review of the rationale, objective and scope of IPSASs.
  • Clear description and explanation of IPSAS requirements.
  • Quizzes to reinforce knowledge.
  • All participants receive hard and soft copies of the presentation slides, handouts and other course materials.

Instructors

The instructor for this course will be drawn from one of our core faculty of subject matter experts. Further details will be published at the earliest opportunity.

Venue

Our 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.

Prerequisites

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