This course will explain and illustrate the key financial principles and accounting terminology in IPSAS in a very clear and practical way for managers and non-accountants. Participants will improve their understanding of the requirements of IPSAS financial reporting and accounting and build confidence when dealing with financial situations encountered as a Manager.
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.
This program answers questions such as:
What is accrual based IPSAS and how is it different from cash accounting?
What do statements of financial position, income statement and cash flow statement show, how are they prepared and how do they interact?
What are the current requirements for presentation of accrual-based IPSAS financial statements and related disclosures?
Where can guidance on IPSAS be found?
How have the IPSAS recently changed?
What techniques should I be using to assess performance in my department (i.e. for IPSAS compliant public sector entity)?
What practical issues commonly arise when implementing IPSAS outside the finance- accounting departments of public sector entities?
De-mystify IPSAS financial reporting and accounting terminology to Appreciate the difference between net income and cash
Understand the purpose and content of the various financial statements and the accounting principles and rules that underpin their preparation
Apply the use of ratios and financial analysis to understand the performance and position of a public sector entity
Increase planning opportunities through awareness of likely future IPSAS changes
Learn the sources of IPSAS guidance that are available
Introduction to IPSAS
Scope of IPSAS
Sources of guidance
Accounting for Government Business Enterprises (Not covered in this course as they apply IFRS)
Understanding how the statements of financial position, income statement and cash flow statement interact
Key financial ratios and financial analysis: A review of techniques that can be applied to assess performance in my department drawing on financial data available when a public sector entity is reporting under accrual based IPSAS
Impact of the Transitioning to the IPSAS Accrual Basis of Accounting on non-accounting and finance departments
A high level review of the IPSAS framework to Reporting & Disclosure
IPSAS 1 Presentation of Financial Statements to IPSAS 2 Cash Flow Statements
IPSAS 3 Net Surplus or Deficit for the Period - Fundamental Errors and Changes in
IPSAS 17 Property, Plant and Equipment to IPSAS 31 Intangible Assets
IPSAS 21 & 26 Impairment of Non-Cash-Generating Assets & Impairment of Cash-
Generating Assets to Revenues & Related Costs
IPSAS 9 Revenue from Exchange Transactions
IPSAS 23 Revenue from Non-Exchange Transactions (Taxes and Transfers)
IPSAS 12 Inventories to Liabilities and Expenses
IPSAS 19 Provisions, Contingent Liabilities and Contingent Assets to IPSAS 25 Employee Benefits
Financing and Financial Instruments to IPSAS 13 Leases
IPSAS 4 The Effect of Changes in Foreign Exchange Rates to Financial Instruments
Consolidations and Strategic Investments
IPSAS 6 Consolidated Financial Statements - Accounting for Controlled Entities to IPSAS 7 Accounting for Investments in Associates
IPSAS 8 Financial Reporting of Interests in Joint Ventures to Other Presentation and Disclosure Standards
IPSAS 18 Segment Reporting
IPSAS 20 Related Party Disclosures
IPSAS 24 Presentation of Budget Information in Financial Statements