International Public Sector Accounting Standards (IPSAS)
Course Info
Code PF1-109
Duration 5 Days
Format Classroom
Course Summary
In recent years, with changes and strains on the economy, private sector accounting, in some circumstances, is no longer fit for purpose. This has introduced a need for public sector accounting that properly manages the credibility and quality of finances and reporting to ensure business accounts are all in order.
The IPSAS provides a holistic framework that fits with all business models in order to set an example for ideal accounting methods. This ensures a set process for taxation, budgeting, and understanding profits and losses to give businesses a clearer picture of their finances than they’ve ever had before, allowing for proactive planning, prioritisation, and continuous improvement.
- To understand and utilise the International Accounting Standards.
- To differentiate the aspects from the old standard in comparison to the new.
- To create a clear stepped progression matrix for IPSAS implementation.
- To understand how financial reporting is affected by IPSAS.
- To equip employees with key accounting techniques and tools to implement change.
- To develop effective and accurate record-keeping processes.
- To ensure employees are aware of correct income, expenditure, and revenue procedures.
- To create effective consolidation and collaboration processes between departments, partners, and stakeholders.
- To create benefits realisation and risk management plans to ensure business continuity.
- To recover appropriately from downturns or changes to financial stability within the business.
- To develop broader taxation strategies and asset management procedures which meet with compliance and internal governance.
This course is designed for anyone who is responsible for accounting procedures, taxation records, or any other financial procedures within a business, or anyone tasked with making high-level financial decisions based on data. It would be most beneficial for:
- Internal Auditors
- Accountants
- Governance Directors
- Risk Assessors
- Financial Professionals
- Business Owners
- CFOs
- Compliance Monitoring Officials
- Public Sector Finance Staff
This course is designed using various adult learning techniques to aid full comprehension. The high-quality programme contains presentations and practical learning exercises to understand proper accounting ideologies and ideas in the public sector and group problem-solving exercises using real-world examples to relieve stressed accounting and manage taxation to benefit a company.
Participants will learn how different organisations work through the transition process and embedding of new reporting in order to create a successful IPSAS process and how to identify and manage risks as they occur.
Course Content & Outline
- Government accounting concepts.
- Cash-based accounting – flaws and benefits.
- Accrual accounting.
- IFAC.
- Creating accurate financial reports and audit trails.
- The IPSASB organisation and relationships with IPSAS.
- The benefits of OPSAS.
- Public sector accounting changes and requirements.
- The IPSAS standards.
- Accrual vs. cash accounting.
- Regulations environments and IPSAS structure.
- Producing financial position statements.
- Cash flow statement developments.
- Segmentation reporting and disclosures.
- Reporting on changes and asset distribution.
- Compliant notes and process changes.
- Non-exchange revenues: IPSAS-23.
- Exchange revenues: IPSAS-9.
- Construction contract agreements: OPSAS-11.
- Cash receipts and payment tracking.
- Budget information presentations and statement evaluation.
- Property, plants, and equipment investments: IPSAS-16-17.
- Asset impairment: IPSAS -31,21 and 26.
- Borrowing and cost leasing: OPSAS-5 and 13.
- Contingent assets and liabilities: IPSAS-19.
- Financial instruments: IPSAS-28, 29, and 30.
- Creating adequate inventories: IPSAS-12.
- The accounting rules across the United Nations.
- Key concepts and studies.
- Adoption of the IPSAS standards in different countries.
- UNSAS vs. IPSAS.
- The progress report based on the current rollout.
- Transitioning from cash to accrual accounting in government.
- Governance and compliance during change.
- Issues and root-cause analysis.
- Unified chartered accounts.
- Selecting the right budgets to work with.
- GPFS.
- Developing financial statements, revenues, and receivables.
- PP&E.
- Working out payables and expenses.
- How to decipher inventories.
- Assets and leases.
- Contingency and liability management.
- Pre-financing options.
- Budgeting with NCOA.
- GPFS accrual and cash changes.
- Impacts of auditing on control systems/
- The role of IT in accounting and systems management.
- How to deal with related party disclosures.
- Gaining financial information in the government sector.
- How to consolidate under cash only basis.
- Non-mandatory disclosures and case studies.
- Change management and adoption procedures.
Embark on a journey to optimise HR functions with our guide. From understanding HR assessments to implementing strategic changes, discover the key steps, methods, and tools vital for fostering organisational success through effective human resources management.
Featured Courses
Holistique Training draws distinction as one of the pioneers in the field of training and professional development solutions since 2008.