IPSAS aims to improve the quality of general purpose financial reporting by public sector entities, leading to better informed assessments of the resource allocation decisions made by governments, thereby increasing transparency and accountability. The International Public Sector Accounting Standards Board (IPSASB) issues International Public Sector Accounting Standards (IPSAS) and Recommended Practice Guidelines (RPGs) relating to the financial reporting needs of national, regional and local governments and other agencies.
This one-day course provides an overview of the most important requirements for preparing financial statements and disclosures under accrual based IPSAS with a specific focus on employee benefits and provisions.
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 standards applicable to employee benefits and provisions is illustrated through the use of short case studies.
In addition to a review of current accrual basis IPSAS, our specialist instructors provide guidance on transitioning to the accrual basis relating to employee benefits and provisions.
- What are the current requirements for recognition, measurement and reporting on employee benefits?
- What are the current requirements for recognition, measurement and reporting on provisions and contingent liabilities?
- How should IPSAS compliant public-sector entities present employee benefits and provisions?
- What disclosures do IPSAS compliant public-sector entities provide on employee benefits and provisions?
- What is the likely impact of IPSASB’s project on non-exchange expense recognition?
- How will liabilities be recognised and measured under IPSAS 42 Social Benefits?
- What practical issues commonly arise when implementing IPSAS 39 and IPSAS 19?
- What are the recommendations for handling the transition from the cash to the accrual basis of accounting pertaining to IPSAS 39 and IPSAS 19?