International Public Sector Accounting Standards (IPSAS)

Course details

Course Introduction:
The course on International Public Sector Accounting Standards (IPSAS) provides delegates with comprehensive training on IPSAS fundamentals, including accrual-based financial reporting, recognition, measurement, and presentation of financial statements. Participants will gain practical insights into implementing IPSAS, enhancing transparency and accountability in public sector financial management, and aligning with global accounting practices. The course benefits public sector professionals aiming to improve financial reporting accuracy and compliance with international standards.

Course Outcomes:
Understand the role, objectives and functions of the treasury department in an organisation
Increase the strategic role of the treasury function
Optimise working capital
Contrast and compare the treasury function in the private and public sector
Differentiate between primary and secondary markets and the roles of the markets
Develop skills of calculating the fair value of equity and bond instruments
Develop skills in assessing the performance of stocks and shares
Demonstrate how derivative instruments can be used to protect against pure risks

Who Should Attend:
Those in treasury who use or plan to use the capital markets and want advanced knowledge of raising finance and/or investing using capital market instruments. They will be from all sectors, including private, public and not-for-profit including:

Those working in treasury and need to know more about the capital markets and treasury

Managers who want to increase their strategic capability
Operations managers who want to know more about treasury activities
Managers who are responsible for investing surplus funds in the capital markets
Treasury employees who need to know how to assess financial performance
Internal auditors, accountants who need to show CPD

Course Topics:
Private and Public Standards - how they have Evolved

The background and evolution of financial standards around the world
International Financial Standards for Private and Public Sectors compared
Underlying financial and accounting principle
Benefits to the organisations and investors
Application of standards world-wide


IPSAS and IFRS Convergence

IPSAS and IFRS Board structures of Governing Bodies and Due Process
IPSAS and IFRS similarities and differences summarised
Budgeting in the Private and Public Sectors compared
Disclosure and transparency aspects
Accounting issues covered by IFRS with no equivalent IPSAS?


IPSAS and IFRS Effective Implementation and Benefits

Planning for transition and implementation identification of key issues
Choosing your approach Big Bang or phased
Scoping the project
Project team structure and roles
Milestone planning
Managing issues and communication
Critical success factors


Key principles of International Standards for the Public Sector

Different users of public sector financial information
Underlying financial and accounting principleWhich public sector entities it should be applied to?
Benefits to the organisations and stakeholders
Cash-based or Accrual based which is the route to take?


Preparation of IPSAS Compliant Financial Statements

IPSAS 1 disclosure and policies
Statement of financial position key features issues and content
Statement of financial performance key features issues and content
Statements of changes in net assets/equity - key features issues and content
Comparison with budgets