INTERNATIONAL PUBLIC SECTOR ACCOUNTING STANDARD (IPSAS)

Introduction:

International Public Sector Accounting Standards aim to improve the quality of general purpose financial reporting by public sector agencies, leading to better informed evaluations of resource allocation decisions taken by governments, thus increasing transparency and accountability. The International Public Sector Accounting Standard Board issues IPSASs and Recommended Practice Guidelines related to the financial reporting needs of state, regional and local governments, government agencies and the communities they represent. This training will help participants not only face the challenges of implementing IPSAS, but also secure the advantage of better financial management to help protect each public service organization’ organizational goals and objectives. It will also equate IFRS to IPSAS, so that the key differences are seen by the participants.

Course Objectives:

At the end of this training, participants will be able to:

• Demonstrate a sound knowledge of the background to International Public Sector Accounting Standards
• Develop skills needed to aid implementation of risk management plans
• State the method of Financial Reporting
• List the basic International Public Sector Accounting Standards

Course Content:

• What is International Public Sector Accounting Standards?
• Background to International Public Sector Accounting Standards
• Basis of Public Sector Accounting
• Financial Reporting
• Reasons for IPSAS
• Government Accounting
• IPSAS Standards
• Accrual and Cash Accounting
• Case Study
• How to transition from Cash to Accrual Accounting
• Issues and Impact of implementing IPSAS
• GPFS
• IPSAS Standards
• International Public Sector Accounting Standards Rules

Course Outline:

Day 1: Introduction to International Public Sector Accounting Standards

• What is International Public Sector Accounting Standards?
• Background to International Public Sector Accounting Standards
• Basis of Public Sector Accounting
• Financial Reporting

Day 2: Importance of International Public Sector Accounting Standards

• Reasons for IPSAS
• Government Accounting
• IPSAS Standards
• Accrual and Cash Accounting

Day 3: Case Study

Day 4: International Public Sector Accounting Standards Implementation

• How to transition from Cash to Accrual Accounting
• Issues and Impact of implementing IPSAS
• GPFS
• IPSAS Standards

Day 5: International Public Sector Accounting Standards Rules

• Inventories
• Assets and Liabilities
• Interpretation of GPFS
• Leases
• Budgeting
• Income and expenditures

Target Audience: Accounting and Finance professionals in the government sector, Individuals involved in preparing financial statements, Auditors, Finance and Accounting Managers

Delivery Method: Lectures, discussions, syndicate work, case studies, role – play and group exercises. Audio – Visual aids will be used to reinforce these training and learning methods.

Venue: Gambia

Fee: $5,000.00

Duration: 1 Week   Course Date: Sept 18^th – 22nd 2023