International Public Sector Accounting Standards (IPSAS)
Details
IPSAS has 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 FeaturesThe 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)
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
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
The International Public Sector Accounting Standards (IPSAS) training course will be presented utilising facilitated discussions, captivating PowerPoint presentations, case studies and examples.
Pre & Post course assessments will be used to measure the effectiveness of this training.
Outline
- An overview of the work of the Board (IPSASB) includes:
- The organization,
- The characteristics of public sector entities,
- The relationship between IPSAS®
- The purpose of financial statements and any ongoing projects
- Key IPSAS requirements within financial statements (IPSAS® 1)
- Producing the statement of financial position
- Producing the cash flow statement (IPSAS® 2)
- Accounting policies, changes in accounting estimates, and errors (IPSAS® 3)
- Segment reporting (IPSAS 18)
- Disclosure standards and other topics, presentation of budget information (IPSAS 24)
- Reporting changes in net asset position
- Producing compliant notes to the accounts
- Provides an understanding of:
- Non-exchange revenue (IPSAS® 23)
- Exchange revenue (IPSAS® 9)
- Construction contracts (IPSAS® 11)
- 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)
- Concessions
- 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)
- 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®
- 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®
Schedules
Wed | 10:00 AM — 04:00 PM |
Thu | 10:00 AM — 04:00 PM |
About Us
McTimothy Associates Consulting LLC is a Professional Management consulting, Human Capital Management, and Business Training company, incorporated in Nigeria with the Corporate Affairs Commission (CAC). Our Corporate office is centrally located at Gbagada Estate Phase 2 Estate, connecting easily to both Lagos Island and Lagos Mainland. We are enabling business greatness in Africa through cutting-edge modern management practices of Business transformation, Strategy, Change management and Innovation, Leadership, Restructuring and Turnaround management, and Training solutions.
Our Philosophy is an enduring commitment to enabling businesses and the professional greatness of our clients every day. Both organizations and individual employees who have attended our indoor and outdoor management development training programs have benefited tremendously in a number of ways. We also maintain relevant accreditations/partnerships with:
- Institute of Management Consultants (IMC).
- Institute of Professional Recruitment Consultants (IPRC), Nigeria
- Association of Professional Recruitment Consultant (APRC) UK
- Nigeria Institute of Training and Development (NITAD),
- Centre for Management Development (CMD), ...