Nigerian Seminars and Trainings

Search all upcoming seminars, conferences, short management courses and training in Nigeria and around the World

business logo

International Public Accounting Standard (IPSAS)

By: Fontini Consulting Ltd

United Kingdom

08 - 12 Jul, 2024  5 days

Follow Event

  

USD 5,500

Venue: London UK

Other Dates

Venue Date Fee  
Accra Ghana, Ghana 14 - 18 Oct, 2024 USD5500

IPSAS have been developed to enhance the quality, consistency, and transparency of public sector financial reporting worldwide. Issued by the International Public Sector Accounting Standards Board (IPSASB), they are cash-based standards and accruals standards used for the preparation of general-purpose financial statements by governments and other public sector entities around the world.

This training course is intended to enable the participants to understand IPSAS and the framework for public sector accounting. The training course provides an overview of the most important requirements for preparing financial statements and disclosures under IPSAS, with specific insight.

Important Features

The important features of the International Public Sector Accounting Standards (IPSAS) training course are:

  • Implementing IPSAS standards
  • Producing financial statements
  • Developing IPSAS Strategies
  • Understanding International Accounting Standards (IAS)
  • Learning Generally Accepted Accounting Principles (GAAP)

Learning Objectives

Participants on the International Public Sector Accounting Standards (IPSAS) training course will be able to:

  • Identify how IPSAS will fit with their organization.
  • Comprehend the core IPSAS values.
  • Explain the key differences in the new standards.
  • Recognize what compliant statements will look like
  • Deploy key strategies for migration to IPSAS standards.
  • Set clear steps towards implementation.
  • Adopt IPSAS disclosure requirements, including accounting policies.

Target Audience

The International Public Sector Accounting Standards (IPSAS) training course is suitable for, but not limited to:

  • Public sector finance and accounting personnel
  • Professionals seeking to develop their understanding of the public sector accounting methods.
  • Professionals who have a responsibility for auditing or working with public sector organizations
  • Corporate governance directors
  • Internal auditors
  • Corporate compliance officials
  • Board level members who wish to develop their understanding of IPSAS.

Training Methodology

The International Public Sector Accounting Standards (IPSAS) training course will be presented utilizing facilitated discussions, captivating PowerPoint presentations, case studies and examples.

Pre and Post course assessments will be used to measure the effectiveness of this training.

Course Contents

Module 1 - Introduction to IPSASB

  • An overview of the work of the Board (IPSASB) including:
  •  The organization,
  •  The characteristics of public sector entities,
  •  The relationship between IPSAS ®
  •  The purpose of financial statements and any ongoing projects

Module 2 - Introduction, Principles and Development

  • Background into financial accounting
  • Importance of standards
  • Economic drivers
  • Key principles of Global Accounting Standards
  • The development of Global Accounting Standards
  • Underlying financial principles
  • Disclosure and transparency aspects

Module 3 - Other General Standards

  • International Accounting Standards (IAS)
  • International Financial Reporting Standards (IFRS)
  • Generally Accepted Accounting Principles (GAAP)
  • The current global adoption of Global Accounting Standards

Module 4 - Key Organizational Benefits

  • Domestic best practice
  • Global best practice

Module 5 - Effective Implementation Strategy

  • The strategic planning process roadmap
  • Mapping regional standards to Global Accounting Standards
  • Resource planning

Module 6 - Migration to IPSAS

  • Scoping dual reporting
  • Financial function migration
  • Phasing and specific functional challenges
  • Strategy sense checks

Module 7 - The IPSAS Standards

  • Review of current IPSAS Standards
  • The correct application of individual IPSAS Standards
  • Overcoming key challenges
  • Obtaining guidance and support from International Federation of Accountants

Module 8 - IPSAS Compliant Financial Statements

  • Key IPSAS requirements within financial statements (IPSAS ® 1)
  • Producing the statement of financial position
  • Producing the statement of financial performance
  • Producing the cash flow statement (IPSAS ® 2)
  • Accounting policies, changes in accounting estimates, and errors (IPSAS ® 3)
  • Reporting changes in net asset position
  • Producing compliant notes to the accounts

Module 9 - Financial performance

  • Provides an understanding of:
  •  Non-exchange revenue (IPSAS ® 23)
  •  Exchange revenue (IPSAS ® 9)
  •  Construction contracts (IPSAS ® 11)

Module 10 - Accounting for Assets and Liabilities

  • Delivers teaching around a wide range of topics including:
  •  Property plant and equipment (IPSAS ® 17)
  •  Intangible assets (IPSAS ® 31)
  •  Investment property (IPSAS ® 16)
  •  Impairment of cash generating assets (IPSAS ® 26)
  •  Impairment of non-cash generating assets (IPSAS ® 21)
  •  Borrowing costs (IPSAS ® 5)
  •  Inventories (IPSAS ® 12)
  •  Leases (IPSAS ® 13)
  •  Financial instruments (IPSAS ® 28, 29, 30)
  •  Provisions
  •  Contingent liabilities and contingent assets (IPSAS ® 19)
  •  Events after the reporting date (IPSAS ® 14)
  •  Employee benefits (IPSAS ® 25)
  •  Agriculture (IPSAS ® 27)

Module 11 - Consolidation

  • Delivers training around:
  •  Consolidated and separate financial statements (IPSAS ® 6)
  •  Interests in joint ventures (IPSAS ® 8)
  •  Investments in associates (IPSAS ® 7)
  •  Translation of financial statements of foreign operations (IPSAS ® 4)
  •  Financial reporting in hyperinflationary economies (IPSAS ® 10)
  •  Disclosure standards and other topics, presentation of budget information (IPSAS ® 24)
  •  Segment reporting (IPSAS ® 18)
  •  Related party disclosures (IPSAS ® 20)
  •  Disclosure of financial information about the general government sector (IPSAS ® 22)
  •  Service concessions (IPSAS ® 32)

Module 12 - Cash-Basis IPSAS ®

  • Delivers training about Part 1 of the cash basis IPSAS ®, covering required information in:
  •  The statement of cash receipts and payments
  •  Disclosures
  •  Consolidation under the cash basis
  •  Presentation of budget information in the financial statements
  •  The additional (non-mandatory) disclosures encouraged in Part 2 of the cash basis IPSAS ®

Module 13 - First-Time Adoption of Accrual-Based IPSAS ®

  • Delivers training cover the following areas:
  •  Migrating from cash to accrual basis
  •  First time adoption of IPSAS ® (IPSAS ® 33)
  •  Change management and the adoption of IPSAS ®
London UK Jul 08 - 12 Jul, 2024
Accra Ghana, Ghana 14 - 18 Oct, 2024
USD 5,500.00
(Convert Currency)

Dr. Francis Okereke +2348035062583

Related Courses

Management Skill Improvement for Managers Workshop Management Skill Improvement for Managers Workshop

4 days, 11 - 14 Jun, 2024 

2024-06-11 12:06:00 2024-06-11 12:06:00
Abuja FCT, Nigeria

Fontini Consulting Ltd

The workshop, which will be a practical one, will teach the participants the preparation, analysis, and interpretation of accounts from the rudimentary stages. The workshop will also dwell on basic ...

Advanced Frauds Detection and Prevention Techniques Advanced Frauds Detection and Prevention Techniques

4 days, 08 - 11 Jul, 2024 

2024-07-08 12:07:00 2024-07-08 12:07:00
State, Nigeria

Fontini Consulting Ltd

Fraud has become the bane of most business Organizations especially in this difficult and inclement operating environment. Fraudsters abound both internally and externally, making it imperative for ...

Leadership and Motivation Workshop Leadership and Motivation Workshop

4 days, 18 - 21 Jun, 2024 

2024-06-18 12:06:00 2024-06-18 12:06:00
Abuja FCT, Nigeria

Fontini Consulting Ltd

This Leadership and Motivation workshop will address the nittty- gritty of Leadership and Motivation.  Partial Content: Introduction to Motivation and Historical Theories Motivation ...

Treasury Management Course Treasury Management Course

5 days, 12 - 16 Aug, 2024 

2024-08-12 12:08:00 2024-08-12 12:08:00
Rwanda

Fontini Consulting Ltd

Eliminating the Challenges of Treasury Management; This Course will entails Day 1 Current challenges of corporate treasury management Corporate value creation Cash flow and liquidity management ...