IPSAS Essentials Self Study (12 months online access)

Introduction

This course consists of 9 modules which you can study yourself over a 12 month period. During this time you will be required to pass the exams on each module and gain your certificates.

The course provides an overview of the most important requirements for preparing financial statements and disclosures under accrual based IPSAS. The program has been fully updated to follow the 2016 IPSAS Handbook and incorporates the latest standards issued in 2016.

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

At a high level, this course answers questions such as:

• What are the requirements in terms of content and format for; the statement of financial position, the statement of financial performance, the statement of changes in net assets/equity, and the statement of cash flows?
• What are the key accrual accounting concepts, as well as key IPSAS recognition, measurement, presentation and disclosure requirements?
• How are IPSAS used in real-life IPSAS financial statements?
• How can the application of IPSAS impact your organization?
• What are the practical implications and challenges of an IPSAS conversion project?

Learning Objectives

• Understand the requirements in terms of content and format for the statement of financial position, the statement of financial performance, the statement of changes in net assets/equity,  and the statement of cash flows.
• Appreciate the requirements in terms of content and format for; the statement of financial position, the statement of financial performance, the statement of changes in net assets/equity, and the statement of cash flows.
• Understand all key accrual accounting concepts, as well as key IPSAS recognition, measurement, presentation and disclosure requirements.
• Learn how IPSAS are used/applied in real-life IPSAS financial statements.
• Understand how the application of IPSAS can impact your organization/entity.
• Grasp the practical implications and challenges of an IPSAS conversion project.

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

Topics

This is a nine-module course which covers:

• Introducing IPSASB: Why Converge Public Sector Accounting Practices?
• The IPSASB Conceptual Framework and Key Accrual Accounting Concepts
• Long-Term (Non-Current) Assets
• Current Assets
• Revenues and Expenses
• Financial Statements Fundamentals
• Provisions and Contingencies
• Financial Instruments Fundamentals
• Making the Transition to IPSAS

Teaching Method

This is a self-study courses which comprises of 9 online modules. Each typically takes around 1 - 3 hours to complete. A module usually includes interactive lessons, a case study, a practice quiz and a final exam.

The final exam has a pass mark of 70%. One re-take is permitted if you don't achieve the pass mark the first time. You will have up to a year from the date of enrolling on the module to pass the exam.

Once you have passed the module you will be awarded a certificate of completion.

All course content may be accessed through any device: desktop, laptop, tablet or smartphone so you can learn whenever and wherever you wish.

Instructors

Venue

Prerequisites

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