International Public Sector Accounting Standards (IPSAS) are accounting standards for use by public sector entities around the world in the preparation of financial statements. Published by the International Public Sector Accounting Standards Board (IPSASB), an independent organ of the International Federation of Accountants (IFAC), these standards focus on the accounting and financial reporting needs of national, regional and local governments, related governmental agencies, and the constituencies that they serve. Examples of IPSAS users include the European Union, the Organization of Economic Cooperation and Development (OECD), many national governments and the United Nations.
This course provides a comprehensive overview of the most important requirements for understanding and applying International Public Sector Accounting Standards (IPSAS) for non-financial assets.
The program includes:High level introduction to IPSASNon-current Assets (IPSAS 17 Property, Plant and
What are the various methods and options that are permitted for asset measurement?
What asset measurement requirements and alternatives should be considered by IPSAS first-time adopters?
How can transition provision be applied?
What practical issues commonly arise when implementing IPSAS for managing the reporting on non-financial assets?
What are the latest IPSAS developments regarding asset measurement?
Understand Accrual Based IPSAS requirements, for non-financial assets to Implement the IPSAS recognition and measurement rules for assets
Learn the requirements for presentation and related disclosures on non-financial assets in IPSAS compliant financial statements
Understand transitional provisions in IPSAS standards
Increase planning opportunities through awareness of likely future IPSAS changes to Learn the sources of IPSAS guidance that are available
High level Introduction to IPSAS
Explanation of Various Measurement Bases to Historical cost
Realizable value to Present value
Inventory (IPSAS 12)
Interim period valuation considerations to Public sector entity inventories
Inventories held for sale
Inventories held for distribution at no or nominal charge
Property, Plant & Equipment (IPSAS 17)
Subsequent valuation to Depreciation
Treatment of heritage assets
Capitalization of borrowing costs (IPSAS 5)
Leases (IPSAS 13)
Measurement considerations over the term of the lease to o Contingent rents
Recent developments to Intangibles (IPSAS 31)
Internally generated intangibles to Research and development
Subsequent expenditures to Amortization
IPSAS 21 & 26 Impairment of Non-Cash-Generating Assets & Impairment of Cash-Generating Assets to Impairment identification
Recognition and measurement to Impairment reversals
IPSAS 19 Provisions, Contingent Liabilities and Contingent Assets
First-time Adoption of and applying IPSAS for non-financial assets to Transition provisions
Managing the transition process to Asset Valuation Disclosures