International Public Sector Accounting Standards IPSAS

Course details

Day 1
Introduction, principles and development
· Background into financial accounting
· Importance of standards
· Economic drivers
· Key principles of Global Accounting Standards
· The development of Global Accounting Standards
· Underlying financial principles
· Disclosure and transparency aspects
 
Day 2
Other general Standards
· International Accounting Standards (IAS)
· Generally Accepted Accounting Principles (GAAP)
· The current global adoption of Global Accounting Standards
Key organizational benefits
· Domestic best practice
· Global best practice
 
Day 3
Effective implementation strategy
· The strategic planning process roadmap
· Mapping regional standards to Global Accounting Standards
· Resource planning
Migration to IPSAS
· Scoping dual reporting
· Financial function migration
· Phasing and specific functional challenges
· Strategy sense checks
 
Day 4
The IPSAS Standards
· Review of current IPSAS Standards
· The correct application of individual IPSAS Standards
· Overcoming key challenges
· Obtaining guidance and support from International Federation of Accountants
 
Day 5
IPSAS compliant financial statements
· Key IPSAS requirements within financial statements
· Producing the statement of financial position
· Producing the statement of financial performance
· Producing the cash flow statement
· Reporting changes in net asset position
· Producing compliant notes to the accounts
 
  Updated on 16 May, 2024