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International Public Sector Accounting Standards (IPSAS) and Governance

By: Cranbrook Management Development Solution

United Arab Emirates

09 - 13 Nov, 2015  5 days

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The aim of this course is to enable participants become engaged in understanding the IPSAS standards and the framework for public sector accounting. This five-day course provides an overview of the most important requirements for preparing financial statements and disclosures under IPSAS. Each of the issued IPSAS will be covered in detail with practical examples of how the rules and guidance should be applied.

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.

The understanding of IPSAS is lacking with majority of accounting personnel working in the public sector. Therefore, the need for the training on IPSAS to enable the government meets the requirements in preparing their financial statement.

The way in which organization is been directed and governed has become a major problem in the running of the organization and hereby compromising the working of the organization. Transparency, accountability, fairness, corrupt act, and objectivity to mention a few became major issues in the running of the organization.

Objectives:

In this course you will be challenged to:

  • Understand what the IPSAS framework is.
  • Plan the transition from cash based accounting methods to accruals based accounting
  • Be aware of the likely developments in the standards
  • Learn the sources of IPSAS guidance
  • Understanding the principle of governance, ethics, risk & fraud

Who Should Attend

  • Chief Accountants
  • Accountants
  • CFO
  • Auditors
  • Budget Officers
  • Financial and Accounting Officers
  • Chief Risk Officers and Risk Managers
  • Financial Controllers
  • Auditors

Training Course Content

This IPSAS (International Public Sector Accounting Standards) training course covers the following content:

DAY 1

  • IPSAS  - The Standards Considered (Technical Review and Application)
  • Presentation of Financial Statements (IPSS 1 / IAS 1)
  • Cash Flow Statements (IPSAS 2/ IAS7)
  • Accounting Policies, Changes in Accounting Estimates and Errors (IPSAS 3 / IAS 8)
  • Events after the Reporting Date (IPSAS 14/IAS 10)

Case study: Practical case studies outlining the IPSAS specific implications of these selected standards

DAY 2

  • IPSAS - An in-depth look at key standards
  • Related Party Disclosures (IPSAS 20/IAS 24)
  • Disclosure of Financial Information about the General Government Sector (IPSAS 22)
  • Presentation of Budget Information in Financial Statements (IPSAS 24)
  • Property, Plant and Equipment (IPSAS 17/IAS 16)
  • Borrowing Costs (IPSAS 5/IAS 23)
  • Leases (IPSAS 13/ IAS 17)

Case study: Practical case studies outlining the IPSAS specific implications of these selected standards

DAY 3

  • IPSAS - The Fundamental Building Blocks
  • IPSAS 16, Investment Property (IPSAS 16/ IAS 40)
  • Inventories (IPSAS 12/IAS 2)
  • Impairment of Non-Cash-Generating Assets (IPSAS 21)
  • Impairment of Cash-Generating Assets (IPSAS 26)
  • Revenue from Non-Exchange Transactions (Taxes and Transfers) (IPSAS 23
  • Provisions, Contingent Liabilities and Contingent Assets (IPSAS 19/IAS 37)

Case study: Practical case studies outlining the IPSAS specific implications of these selected standards

DAY 4

  • Corporate Governance
  • Governance
  • Understanding Corporate Governance issues
  • Need for Corporate Governance
  • Corporate Governance key principles
  • King III - Scope & Application
  • Stakeholders relationship
  • Board – Effective leadership
  • Conflict of Interest
  • Corporate Governance Framework
  • Integrated sustainability reporting
  • Case studies

DAY 5

Field Trip

 

Dubai, UAE Nov 09 - 13 Nov, 2015

+2348098500010