Course Description
This intensive 5-day course provides a comprehensive overview of IPSAS and IFRS implementation for public sector entities. Participants will gain in-depth knowledge of international accounting standards, learn practical application techniques, and develop skills to effectively transition to and maintain compliance with IPSAS and IFRS.
Learning Objectives
- Understand the fundamental principles and key differences between IPSAS and IFRS
- Learn to prepare financial statements compliant with IPSAS and IFRS requirements
- Develop strategies for successful implementation and transition to international standards
- Gain practical skills in asset valuation, revenue recognition, and financial instrument accounting
- Understand the impact of IPSAS and IFRS on budgeting and performance reporting
Course Modules
Day 1: Introduction to IPSAS and IFRS
- Overview of IPSASB and IASB
- Key principles and conceptual frameworks
- Similarities and differences between IPSAS and IFRS
- First-time adoption considerations
Day 2: Financial Statement Presentation
- Structure and components of financial statements
- Statement of financial position
- Statement of financial performance
- Cash flow statements and notes
Day 3: Asset and Liability Reporting
- Property, plant, and equipment (IPSAS 17)
- Intangible assets (IPSAS 31)
- Impairment of assets (IPSAS 21 and 26)
- Financial instruments (IPSAS 28, 29, 30)
Day 4: Revenue and Expenses
- Revenue from exchange transactions (IPSAS 9)
- Revenue from non-exchange transactions (IPSAS 23)
- Employee benefits (IPSAS 39)
- Provisions and contingencies (IPSAS 19)
Day 5: Consolidation and Special Topics
- Consolidated financial statements (IPSAS 35)
- Disclosure of interests in other entities (IPSAS 38)
- Segment reporting (IPSAS 18)
- Budgetary reporting (IPSAS 24)
Practical Wins for Participants
- Ability to prepare IPSAS and IFRS compliant financial statements
- Skills to manage the transition process to international standards
- Improved decision-making capabilities using enhanced financial information
- Network with peers and share best practices in public sector accounting
Credits: 5 credit per day
Course Mode: full-time
Provider: Blackbird Training Centre
