IPSAS Foundation

This program answers questions such as:
• What are the current and likely future requirements of IPSAS?
• How have the IPSAS recently changed?
• Which countries or entities apply IPSAS ?
• What is considered an entity and a group entity under the IPSASs in the public sector?
• Where can guidance on IPSAS be found?
• What are the differences between IAS/IFRS and IPSAS?
• Where can guidance on IPSAS are found?

Prerequisites
Understanding of basic accounting principles based on any national standards in the public sector.
No advance preparation is required for this course.

Topics

Introduction to IPSAS
• Brief history
• Improvements Project (revised IPSAS and Preface)
• Scope of IPSAS
• Sources of guidance
• Accounting for Government Business Enterprises (definition and accounting requirements)
• IFAC and the IPSAS Board
• Differences between IAS/IFRS and IPSAS
• Adoption of IPSAS

• IPSAS 1 Presentation of Financial Statements
  • Required financial statements
  • Structure
  • Content
  IPSAS 2 Cash Flow Statements
  • Cash and cash equivalents
  • Operating, investing and financing activities
  IPSAS 24 Presentation of Budget Information in Financial Statements
  • Required disclosures
  • Comparison of budget and actual amounts
  • Material differences
Reporting and Disclosure

Expected Future Developments
• Exposure drafts
• IPSASB projects
• Consultation papers
• Projects in Process

Resources and reference material
• Where to find information about IPSAS
• Research Papers
• Public Sector Studies

Course Benefits

• Understand the background of the IPSASs.
• Understand how to apply the IPSASs and identify the differences with IFRS/IAS.
• Understand the concept of the IPSAS and the elements of an IPSAS compliant financial statement
• Guidance on how to find more information on the IPSASs.

Who should attend

This course is especially interesting for:
• Any professional in a Finance Position in the Public Sector
• Auditors and Accountants serving the Public Sector
• Consultants serving the Public Sector
• Chief Accountants
• Public Sector Finance Directors
• Heads of Finance in the Public Sector
• Finance Managers
• Financial Controllers