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IPSAS Training Course


IPSAS - Accounting for Leases under IPSAS 43 (1 day)

Course Details

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11 Sep 2023
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This program provides in-depth coverage of lease accounting under IPSAS 43 which replaces IPSAS 13 for periods beginning on or after 1 January 2025 (earlier application is permitted).

IPSAS 43 is aligned with the IASB’s leasing standard, IFRS 16. It completes Phase One of the Board’s project on leases. Phase Two addresses arrangements which are specific to the public sector such as concessionary leases and rights to use assets for no consideration: ED 84 Concessionary Leases and Right-of-Use Assets In-kind, published in January 2023, proposes amendments to IPSAS 43.

The most important changes required by IPSAS 43 relate to lessee accounting. Under the ‘right-of-use model’, leases will be recognised on the lessee’s statement of financial position by recognising a right to use the underlying asset and a liability to make future lease payments. This will bring most existing leases ‘on balance sheet’. Exceptionally, where criteria are met, leases may apply separate recognition exemptions for short-term leases and leases of low value assets: where used, lessees will account for these similarly to operating leases under IPSAS 13.

IPSAS 43 substantially carries forward lessor accounting under IPSAS 13: lessors must continue to distinguish between finance and operating leases. Changes include clarifying how to deal with lease modifications and accounting for subleases.

The new standard contains extensive application guidance and is accompanied by Illustrative Examples which will be referenced on the course.

Using case studies, examples and exercises, our specialist instructors explain and illustrate how to apply the requirements of IPSAS 43.

This program answers questions such as:

  • How must arrangements be analysed to determine whether they contain leases?
  • How are contracts separated into lease and non-lease components?
  • How are leases accounted for in the financial statements of lessees?
  • What changes does IPSAS 43 make to accounting by lessors?
  • What are the presentation and enhanced disclosure requirements?
  • What are the requirements and options for transitioning to the new standard?

Learning Objectives

  • Comply with the new accounting and disclosure requirements for leases
  • Analyse contracts to determine whether they contain leases
  • Apply the rules for initial and subsequent measurement by lessees and lessors
  • Learn the requirements for sale and leaseback transactions
  • Plan the transition to IPSAS 43

Who Should Attend

  • Accountants and public financial management (PFM) officials in finance and reporting teams that prepare IPSAS financial statements
  • External and internal auditors of public sector entities that prepare accrual-basis IPSAS financial statements
  • Consultants, analysts and academics with interests in public sector financial reporting


  • Leases
    • Defining a lease
    • Separating a contract into lease and non-lease components
    • Recognition exemptions for short-term leases and leases of low value assets
    • Determining the lease term
  • Lessee Accounting
    • Recognition – right-of-use model
    • Initial and subsequent measurement
    • Lease modifications
    • Presentation
    • Disclosure
  • Lessor Accounting
    • Classification as operating or finance leases
    • Finance leases - recognition and measurement
    • Operating leases - recognition and measurement
    • Presentation
    • Disclosure
  • Sale and Leaseback Transactions
    • Assessing whether a transfer is a sale or a financing
    • Recognition and measurement by seller-lessees and buyer-lessors
  • Phase Two of the Leases Project
    • Proposals in ED 84 Concessionary Leases and Right-of-Use Assets In-kind
  • Options for transitioning to IPSAS 43

Teaching Method

  • Group live instruction by specialist instructors
  • Description and explanation of IPSAS technical requirements in clear and simple language
  • Use of case studies and real-world examples to illustrate the practical application of IPSAS 43
  • Interactive participation is encouraged
  • All participants receive a comprehensive binder containing copies of the presentation slides, handouts and other course materials


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.


Our seminars take place in professional conference facilities, usually situated within a carefully chosen and well-located hotel. We use prestigious brands such as Radisson Blu, Hilton and Marriott.

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. Refreshments and lunch are provided at our events.

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


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