Training Course on International Public Sector Accounting Standards (IPSAS) for Public Sector Accountants

Course Outline

Module 1: Introduction to IPSAS and the Conceptual Framework

ü  Overview of the International Public Sector Accounting Standards Board (IPSASB)

ü  The need for and benefits of IPSAS adoption

ü  Structure of the IPSAS framework and pronouncements

ü  Elements of financial statements under IPSAS

ü  Practical Session: Analyzing the key principles of the IPSAS Conceptual Framework

Module 2: Presentation of Financial Statements (IPSAS 1)

ü  Components of a complete set of financial statements

ü  Requirements for the statement of financial position

ü  Requirements for the statement of financial performance

ü  Requirements for the statement of changes in net assets/equity

ü  Practical Session: Preparing a basic statement of financial position and financial performance

Module 3: Property, Plant, and Equipment (IPSAS 17)

ü  Definition and recognition of property, plant, and equipment (PPE)

ü  Initial and subsequent measurement of PPE

ü  Depreciation methods and useful lives

ü  Derecognition of PPE

ü  Practical Session: Calculating depreciation using different methods

Module 4: Inventories (IPSAS 12)

ü  Definition and recognition of inventories in the public sector

ü  Measurement of inventories (cost formulas)

ü  Write-down of inventories to net realizable value

ü  Accounting for specific types of public sector inventories

ü  Practical Session: Valuing public sector inventories using different cost formulas

Module 5: Intangible Assets (IPSAS 31)

ü  Definition and recognition of intangible assets

ü  Initial and subsequent measurement of intangible assets

ü  Amortization of intangible assets

ü  Research and development costs

ü  Practical Session: Identifying and accounting for public sector intangible assets

Module 6: Financial Instruments: Recognition and Measurement (IPSAS 29)

ü  Classification of financial instruments

ü  Initial recognition and measurement of financial assets and liabilities

ü  Subsequent measurement of financial instruments

ü  Impairment of financial assets

ü  Practical Session: Classifying and measuring basic public sector financial instruments

Module 7: Provisions, Contingent Liabilities and Contingent Assets (IPSAS 19)

ü  Recognition and measurement of provisions

ü  Accounting for contingent liabilities

ü  Accounting for contingent assets

ü  Distinction between provisions and contingent liabilities

ü  Practical Session: Analyzing scenarios to determine the accounting treatment for provisions and contingencies

Module 8: Revenue from Exchange Transactions (IPSAS 9) and Non-Exchange Revenue (IPSAS 23)

ü  Recognition criteria for revenue from exchange transactions

ü  Measurement of revenue from exchange transactions

ü  Recognition criteria for non-exchange revenue (taxes, grants, etc.)

ü  Accounting for different types of non-exchange revenue

ü  Practical Session: Applying the principles of revenue recognition to public sector transactions

Module 9: Leases (IPSAS 13)

ü  Classification of leases (operating and finance leases)

ü  Accounting for operating leases by lessees and lessors

ü  Accounting for finance leases by lessees and lessors

ü  Sale and leaseback transactions

ü  Practical Session: Determining the appropriate accounting treatment for different lease arrangements

Module 10: Employee Benefits (IPSAS 39)

ü  Short-term employee benefits (salaries, wages, etc.)

ü  Post-employment benefits (pensions, other retirement benefits)

ü  Termination benefits

ü  Accounting for compensated absences

ü  Practical Session: Calculating the cost of short-term employee benefits

Module 11: Accounting for Social Benefits (IPSAS 42)

ü  Definition and recognition of social benefits

ü  Measurement of social benefit obligations

ü  Accounting for different types of social benefits (e.g., unemployment benefits, welfare payments)

ü  Presentation and disclosure of social benefit information

ü  Practical Session: Identifying and classifying different types of social benefits in the public sector

Module 12: Impairment of Non-Cash-Generating Assets (IPSAS 21) and Cash-Generating Assets (IPSAS 26)

ü  Indicators of impairment

ü  Measurement of recoverable service amount and recoverable amount

ü  Recognition and reversal of impairment losses

ü  Accounting for impairment of specific asset types

ü  Practical Session: Assessing whether a public sector asset is impaired

Module 13: Heritage Assets (IPSAS 30)

ü  Definition and recognition of heritage assets

ü  Measurement of heritage assets

ü  Accounting for restrictions on heritage assets

ü  Disclosure requirements for heritage assets

ü  Practical Session: Identifying and considering the accounting treatment for heritage assets

Module 14: Service Concession Arrangements: Grantor (IPSAS 32)

ü  Definition and scope of service concession arrangements

ü  Accounting for the infrastructure asset

ü  Accounting for other assets and liabilities

ü  Disclosure requirements for grantors

ü  Practical Session: Analyzing the accounting implications of a service concession arrangement

Module 15: Related Party Disclosures (IPSAS 20)

ü  Definition of related parties in the public sector

ü  Requirements for disclosing related party relationships and transactions

ü  Examples of related party transactions in the public sector

ü  Importance of transparency in related party dealings

ü  Practical Session: Identifying related parties and transactions for a public sector entity

Module 16: Accounting for Interests in Joint Ventures and Associates (IPSAS 36 & 37)

ü  Definition and classification of joint ventures and associates

ü  Accounting for jointly controlled operations

ü  Accounting for jointly controlled assets

ü  Accounting for jointly controlled entities (equity method)

ü  Practical Session: Applying the equity method to account for an investment in a joint venture

Module 17: First-time Adoption of Accrual Basis IPSAS (IPSAS 33)

ü  Steps involved in the first-time adoption of accrual basis IPSAS

ü  Opening statement of financial position

ü  Exemptions and exceptions for first-time adopters

ü  Restatement of comparative information

ü  Practical Session: Identifying the key considerations for first-time IPSAS adoption

Module 18: Public Sector Specific Topics and Current Developments in IPSAS

ü  Accounting for grants and donations under IPSAS

ü  Accounting for taxes and other compulsory levies

ü  Current projects and amendments to IPSAS

ü  Future direction of IPSASB

üPractical Session: Discussing the implications of recent developments in IPSAS

About the Trainers

 

Our trainers are highly experienced professionals with a deep understanding of International Public Sector Accounting Standards and their practical application in diverse public sector environments. They possess advanced accounting qualifications and have extensive experience in implementing IPSAS, conducting IPSAS training, and providing advisory services to public sector entities globally. Their expertise ensures that participants receive practical, relevant, and up-to-date knowledge of IPSAS.

 

Quality Statement

 

Phoenix Training Center is committed to providing high-quality training in International Public Sector Accounting Standards. Our courses are developed and delivered by seasoned IPSAS experts, utilizing the latest pronouncements and best practices. We aim to equip public sector accountants with the knowledge and skills necessary to confidently apply IPSAS and contribute to enhanced financial reporting and accountability within their organizations.

 

Admission Criteria

ü  Participants should be reasonably proficient in English. 

ü  Applicants must live up to Phoenix Center for Policy, Research and Training admission criteria.

Terms and Conditions

1.    Discounts: Organizations sponsoring Four Participants will have the 5th attend Free

2.    What is catered for by the Course Fees: Fees cater for all requirements for the training – Learning materials, Lunches, Teas, Snacks and Certification. All participants will additionally cater for their travel and accommodation expenses, visa application, insurance, and other personal expenses.

3.    Certificate Awarded: Participants are awarded Certificates of Participation at the end of the training.

4.    The program content shown here is for guidance purposes only. Our continuous course improvement process may lead to changes in topics and course structure.

5.    Approval of Course: Our Programs are NITA Approved. Participating organizations can therefore claim reimbursement on fees paid in accordance with NITA Rules.

Booking for Training

Simply send an email to the Training Officer on training@phoenixtrainingcenter.com and we will send you a registration form. We advise you to book early to avoid missing a seat to this training.

Or call us on +254720272325 / +254737566961

Payment Options

We provide 3 payment options, choose one for your convenience, and kindly make payments at least 5 days before the Training start date to reserve your seat:

1.    Groups of 5 People and Above – Cheque Payments to: Phoenix Center for Policy, Research and Training Limited should be paid in advance, 5 days to the training.

2.    Invoice: We can send a bill directly to you or your company.

3.    Deposit directly into Bank Account (Account details provided upon request)

Cancellation Policy

1.    Payment for all courses includes a registration fee, which is non-refundable, and equals 15% of the total sum of the course fee.

2.    Participants may cancel attendance 14 days or more prior to the training commencement date.

3.    No refunds will be made 14 days or less before the training commencement date. However, participants who are unable to attend may opt to attend a similar training course at a later date or send a substitute participant provided the participation criteria have been met.

Tailor Made Courses

This training course can also be customized for your institution upon request for a minimum of 5 participants. You can have it conducted at our Training Centre or at a convenient location.

For further inquiries, please contact us on Tel: +254720272325 / +254737566961 or Email training@phoenixtrainingcenter.com

Accommodation and Airport Transfer

Accommodation and Airport Transfer is arranged upon request and at extra cost. For reservations contact the Training Officer on Email: training@phoenixtrainingcenter.com or on Tel: +254720272325 / +254737566961