Training Course on International Public Sector Accounting Standards (IPSAS)

Course Description

This Training Course on International Public Sector Accounting Standards (IPSAS) offered by Phoenix Center for Policy, Research and Training is structured to provide participants with the essential knowledge and practical tools needed to apply IPSAS in public sector accounting. Participants will delve into the core principles of IPSAS, from understanding accrual-based accounting to dealing with complex financial instruments and assets. Through real-life case studies, exercises, and interactive discussions, participants will be able to connect theory with practice. 

With IPSAS playing a vital role in ensuring consistency and transparency in public finance, this course will also focus on the latest updates and global best practices. By the end of the course, you’ll not only be adept at preparing IPSAS-compliant financial statements but will also gain insights into how these standards impact decision-making and public accountability on a global scale.

Course Objectives

Upon the successful completion of this Training Course on International Public Sector Accounting Standards (IPSAS), participants will be able to:

• Understand the core principles and structure of IPSAS and their importance in public sector financial reporting.
• Learn how to apply accrual-based IPSAS in preparing and interpreting financial statements.
• Identify key differences between cash and accrual-based IPSAS accounting.
• Gain expertise in the treatment of assets, liabilities, revenues, and expenses under IPSAS.
• Navigate complex IPSAS topics, such as consolidation, financial instruments, and pension liabilities.
• Stay up to date with the latest IPSAS updates and best practices.
• Gain in-depth knowledge of financial reporting in the public sector, improving their decision-making abilities.
• Ensure compliance with global accounting standards, strengthening trust and transparency.
• Improve financial management and governance in public sector financial reporting.
• Reduce errors and inconsistencies in financial reporting, enhancing accuracy.
• Streamline decision-making processes with clearer, more reliable financial data.

Training Methodology

The course is designed to be highly interactive, challenging and stimulating. It will be an instructor led training and will be delivered using a blended learning approach comprising of presentations, discussions, guided sessions of practical exercise, case study review, web-based tutorials, group work, exploration of relevant issues collaborative strength training, performance measurement, and workshops of participants’ displays, all of which adhere to the highest standards of training. The training technique is built on learning by doing, with lecturers using a learner-centered approach to engage participants and provide tasks that allow them to apply what they’ve learned. Experiential knowledge is also given equal importance within the format of training. Our facilitators are seasoned industry professionals with years of expertise in their chosen fields. All facilitation and course materials will be offered in English.

Who Should Attend?

This Training Course on International Public Sector Accounting Standards (IPSAS) would be suitable for, but not limited to:

• Public Sector Accountants looking to improve their understanding of IPSAS.
• Finance Managers and Directors working in government entities or NGOs.
• Auditors focusing on public sector financial statements.
• Budget Analysts responsible for ensuring compliance with international accounting standards.
• Policy Makers and Government Advisors interested in global financial governance.
• Public Sector Consultants involved in financial reporting or auditing for public institutions.

Course Outline

Module 1: Introduction to IPSAS and Public Sector Financial Reporting

• The Role of IPSAS in Public Sector Financial Reporting
• Differences Between Cash-Based and Accrual-Based Accounting
• Key Characteristics and Scope of IPSAS
• Overview of the IPSASB (International Public Sector Accounting Standards Board)

Module 2: IPSAS Accrual Basis Framework

• Understanding the Accrual Basis of Accounting in IPSAS
• Recognition and Measurement of Revenues and Expenses
• Accrual vs. Cash Accounting in the Public Sector
• Transitioning from Cash Basis to Accrual Basis in IPSAS

Module 3: Financial Statement Presentation Under IPSAS

• Structure of IPSAS-Compliant Financial Statements
• Statement of Financial Position (Balance Sheet)
• Statement of Financial Performance (Income Statement)
• Statement of Cash Flows and Notes to Financial Statements
  

Module 4: Accounting for Assets and Liabilities

• IPSAS Treatment of Property, Plant, and Equipment
• Recognizing and Measuring Liabilities under IPSAS
• Accounting for Intangible Assets and Investment Properties
• Impairment of Assets and Fair Value Measurement

Module 5: Revenue Recognition and Grant Accounting in IPSAS

• IPSAS Guidelines for Revenue from Exchange and Non-Exchange Transactions
• Accounting for Government Grants and Donations
• IPSAS 23: Revenue from Non-Exchange Transactions (Taxes and Transfers)
• Deferred Income and Provisions for Revenue

Module 6: Consolidation and Group Financial Statements

• Principles of Consolidation in the Public Sector
• IPSAS 35: Consolidated Financial Statements
• Accounting for Joint Ventures, Associates, and Interests in Other Entities
• Eliminating Inter-Entity Transactions in Consolidated Financials

Module 7: Financial Instruments and Liabilities

• IPSAS 41: Financial Instruments—Classification and Measurement
• Recognizing Financial Liabilities and Debt Instruments
• Hedge Accounting and Derivative Instruments in the Public Sector
• Disclosure Requirements for Financial Instruments

Module 8: Employee Benefits and Pension Liabilities

• IPSAS 39: Accounting for Employee Benefits
• Recognizing Short-Term and Long-Term Employee Benefits
• Accounting for Pension Plans and Retirement Benefits
• Actuarial Valuations and Disclosures for Pension Liabilities

Module 9: Segment Reporting and Budgetary Information

• IPSAS 18: Segment Reporting in the Public Sector
• Reporting Budgetary Information and Variances
• Disclosure of Budgetary Comparisons in Financial Statements
• Best Practices for Segmental and Budgetary Reporting
  

Requirements

• Participants should be reasonably proficient in English.
• Applicants must live up to Phoenix Center for Policy, Research and Training admission criteria.

NOTE

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 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