Governmental Accounting/Public Sector Accounting - A Management Perspective

Pahladsingh Accountancy And Consultancy
In Geneva (Switzerland)

$ 2,125 - (Rs 1,43,574)
VAT not incl.
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Important information

  • Certificate
  • Geneva (Switzerland)
  • Duration:
    3 Days
Description

Important information
Venues

Where and when

Starts Location
On request
Geneva
To be determined, Genf, Switzerland
See map

Course programme

Apart from the differences between accounting for business and governments and not-for-profits, this course also gives and insight in the key phases of the budget cycle and how budgets can enhance control. It gives an understanding of how governments use the modified accrual basis, how the different sources of revenue (such as taxes, non-exchange revenues, investment gains, interests and dividends, and voluntary non-exchange revenues) and expenditures (such as wages and salaries, pensions and other post-employment benefits, claims and judgments, prepayments and non-exchange expenditures) should be accounted for.

Also the course gives an insight in how to account for capital projects and debt service. Delegates will gain an understanding of the differences between permanent funds and fiduciary funds, including specifically Post employment benefits.

The course will look into the role accountants play in the management cycle of governments and other not-for-profit entities and the characteristics of sound operational objectives. Delegates will learn how program budgets relate expenditures to operational objectives.

Participants will learn how the audits of governments and not-for-profits differ from those of businesses and what approach auditors generally take in performing audits.

The course also includes pronouncements from the International Public Sector Accounting Standards Board (IPSASB), which focuses on the accounting and financial reporting needs of national, regional and local governments, related governmental agencies, and the constituencies they serve.

Prerequisites

  • None, practical experience in Public Sector Accounting is beneficial.
  • Topics

      The course gives answer to questions like:
    • How do governments compare with businesses?
    • What other characteristics of governments have accounting implications?
    • Why are performance budgets necessary?
    • How does encumbrance accounting prevent overspending?
    • What issues are critical as to Investments in marketable securities and other financial instruments?
    • What constitutes a governments’ long-term bond?
    • Should business type activities be accounted for differently than governmental activities?
    • What are permanent funds and how are they distinguished from fiduciary funds?
    • How does a defined contribution plan differ from a defined benefit plan?
    • How can a government’s fiscal condition be assessed?
    • What are split interest agreements and how should they be accounted for?
    • How are capital expenditures planned and budgeted within a framework of operational objectives?
    • What types of audits do governments conduct?
    • What reports result from single audits?
    • What are International Public Sector Accounting Standards (IPSAS) and how do they differ from International Financial reporting Standards (IFRS)?
      The program covers the following topics:
    • The Government Environment.
    • Fund Accounting.
    • Budget and Control.
    • Recognizing revenues in Government Funds.
    • Recognizing Expenditures in Governmental Funds.
    • Accounting for Capital Projects and Debt Service.
    • Capital Assets and Investments in Marketable Securities.
    • Long-term Obligations.
    • Business-Type Activities.
    • Fiduciary Funds and Permanent Funds.
    • Issues of Reporting, Disclosure and Financial Analysis.
    • Managing for Results.
    • Auditing Governments.
    • International Public Sector Accounting Standards (IPSAS).
    • New and future developments in the Government Sector.

    Delegates for this course are encouraged to raise questions and interact with other delegates, therefore learning from the practical experiences of working at the government or for a public sector entity.

    Course Benefits

    • Understand the differences between accounting for profit entities and entities in the public sector.
    • Have knowledge and understanding of the accounting concepts of the government sector.
    • Appreciate general IPSAS requirements, including accounting policies and disclosures.
    • Have knowledge of budgeting in the Public Sector.
    • Understand the management cycle of governments and the characteristics of sound operational objectives.
    • Understand how program budgets relate expenditures to operational objectives.
    • Have knowledge of how the audits of governments differ from those of businesses and what approach auditors generally take in performing audits.

    Who should attend

      This course is especially interesting for:
    • Any professional in a Finance Position in the Public Sector or at a Not-for-profit entity.
    • Auditors and Accountants serving the Public Sector or at a Not-for-profit entity.
    • Consultants serving the Public Sector or at a Not-for-profit entity.
    • Chief Accountants.
    • Public Sector Finance Directors.
    • Heads of Finance in the Public Sector or at a Not-for-profit entity.
    • Finance Managers.
    • Financial Controllers.

    This three days course is eligible for 24 CPE Credits


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