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International Public Sector Accounting Standards (IPSASS) Fundamentals

By: Data-Afrique Consultants

Kenya

04 - 08 Nov, 2019  5 days

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USD 1,000

Venue: Data-Afrique Training Centre, Nairobi, Kenya

Other Dates

Venue Date Fee  
Data-Afrique Training Centre, Nairobi, Kenya, Kenya 06 - 10 Apr, 2020 USD1000
Data-Afrique Training Centre, Nairobi, Kenya, Kenya 02 - 06 Mar, 2020 USD1000
Data-Afrique Training Centre, Nairobi, Kenya, Kenya 03 - 07 Feb, 2020 USD1000
Data-Afrique Training Centre, Nairobi, Kenya, Kenya 13 - 17 Jan, 2020 USD1000
Data-Afrique Training Centre, Nairobi, Kenya, Kenya 02 - 06 Dec, 2019 USD1000
Data-Afrique Training Centre, Nairobi, Kenya, Kenya 04 - 08 May, 2020 USD1000
Data-Afrique Training Centre, Nairobi, Kenya, Kenya 01 - 05 Jun, 2020 USD1000

IPSASs aim 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 (IPSASs) and Recommended Practice Guidelines (RPGs) relating to the financial reporting needs of national, regional and local governments, governmental agencies, and the constituencies they serve.

This five-day course provides an overview of the most important requirements for preparing financial statements and disclosures under accrual basis IPSASs. The program has been fully updated to reflect the most recent IPSAS Handbook. 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 using short case studies. In addition to a review of current accrual basis IPSASs, our specialist instructors provide guidance on transitioning to the accrual basis. Course delegates also receive up-to-date information on the IPSASB’s Work Plan, including current Exposure Drafts and Consultation Papers.

Course Objectives

By the end of this course the participants will be able to:

  • Understand Accrual Based IPSAS requirements, including accounting policies and disclosures
  • Implement the IPSAS recognition and measurement rules for assets, liabilities, revenues and expenses
  • Learn the requirements for presentation of IPSAS financial statements and related disclosures
  • Plan for issues that arise when transitioning from the cash basis to the accrual basis of accounting
  • Identify transitional provisions in IPSAS standards
  • Increase planning opportunities through awareness of likely future IPSAS changes
  • Learn the sources of IPSAS guidance that are available

Who Should Attend?

This course targets:

  • Finance and accounting managers of public sector entities considering adopting 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
  • Internal auditors of entities that have adopted IPSAS or are in the process of doing so
  • Accounting practitioners, consultants and external auditors
  • Accounting academics

Course Content

Introduction to IPSASs

  • Brief history
  • Scope of IPSASs
  • Sources of guidance
  • Conceptual Framework

Presentation and Disclosure

IPSAS 1 Presentation of Financial Statements

  • Required financial statements
  • Structure

Content

IPSAS 2 Cash Flow Statements

  • Cash and cash equivalents
  • Operating, investing and financing activities

IPSAS 3 Accounting Policies, Changes in Accounting Estimates and Errors

IPSAS 14 Events after the Reporting Date

  • Non-current Assets

IPSAS 17 Property, Plant and Equipment

  • Initial recognition
  • Subsequent valuation
  • Depreciation
  • Treatment of infrastructure and heritage assets

IPSAS 16 Investment Property

  • Initial recognition
  • Subsequent valuation

IPSAS 31 Intangible Assets

  • Identifying relevant intangible assets and their initial recognition
  • Measurement

IPSAS 21 and 26 Impairment of Non-Cash-Generating Assets and Impairment of Cash-Generating Assets

  • Impairment identification
  • Recognition and measurement
  • Reversals of past impairments
  • Disclosure requirements
  • Revenues and Related Costs

IPSAS 23 Revenue from Non-Exchange Transactions

  • Recognition and measurement of revenue from taxes and transfers
  • Reflecting conditions and restrictions in the financial statements

IPSAS 9 Revenue from Exchange Transactions

  • Accounting treatment for exchange transactions

IPSAS 12 Inventories

  • Inventories held for distribution at no or nominal charge
  • Liabilities and Expenses
  • General expense recognition principles and application to donations given

IPSAS 19 Provisions, Contingent Liabilities and Contingent Assets

  • Definitions
  • Recognition and measurement
  • Disclosures

IPSAS 39 Employee Benefits

  • Short and long-term benefits
  • Recognition, measurement of pension obligations
  • Financing and Financial Instruments

IPSAS 13 Leases

  • Lessee and lessor financial reporting requirements

IPSAS 32 Service Concession Arrangements

IPSAS 4 The Effects of Changes in Foreign Exchange Rates

  • Foreign currency transactions
  • Foreign operations
  • Financial Instruments

IPSAS 28 Financial Instruments Presentation

IPSAS 29 Financial Instruments: Recognition and Measurement

IPSAS 30 Financial Instruments: Disclosures

  • Consolidations and Interests in Other Entities

IPSAS 35 Consolidated Financial Statements - Accounting for Controlled Entities

  • Consolidation boundaries and concepts of public sector control
  • Consolidation requirements

IPSAS 36 Accounting for Investments in Associates and Joint Ventures

  • Equity method of accounting
  • Cost method requirements

IPSAS 37 Accounting for Joint Arrangements

  • Distinguishing joint ventures from joint operations
  • Equity and joint operations accounting

IPSAS 40 Public Sector Combinations

  • Requirements of new standard for 2019
  • Other Presentation and Disclosure Standards

IPSAS 18 Segment Reporting

  • Distinguishable activities

IPSAS 20 Related Party Disclosures

  • Identification of related parties
  • Disclosure requirements

IPSAS 24 Presentation of Budget Information in Financial Statements

  • Required disclosures
  • Comparison of budget and actual amounts
  • Material differences

Recommended Practice Guidelines

  • RPG 1 Reporting on the Long-Term Sustainability of an Entity’s Finances
  • RPG 2 Financial Statement Discussion and Analysis
  • RPG 3 Reporting Service Performance Information

Transitioning to the Accrual Basis of Accounting

  • Overview of IPSAS 33 First-Time Adoption of Accrual Basis IPSASs
  • Transition paths

General Notes

This course is delivered by our seasoned trainers who have vast experience as expert professionals in the respective fields of practice. The course is taught through a mix of practical activities, theory, group works and case studies.

Training manuals and additional reference materials are provided to the participants.

Upon successful completion of this course, participants will be issued with a certificate.

Data-Afrique Training Centre, Nairobi, Kenya Nov 04 - 08 Nov, 2019
Data-Afrique Training Centre, Nairobi, Kenya, Kenya 06 - 10 Apr, 2020
Data-Afrique Training Centre, Nairobi, Kenya, Kenya 02 - 06 Mar, 2020
Data-Afrique Training Centre, Nairobi, Kenya, Kenya 03 - 07 Feb, 2020
Data-Afrique Training Centre, Nairobi, Kenya, Kenya 13 - 17 Jan, 2020
Data-Afrique Training Centre, Nairobi, Kenya, Kenya 02 - 06 Dec, 2019
Data-Afrique Training Centre, Nairobi, Kenya, Kenya 04 - 08 May, 2020
Data-Afrique Training Centre, Nairobi, Kenya, Kenya 01 - 05 Jun, 2020

Registration: 08:00:am - 08:00:am

USD 1,000.00
(Convert Currency)

DUNCAN KARIUKI +254723360025

DATA-AFRIQUE CONSULTANCY
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