International Public Sector Accounting Standards IPSAS

Overview:

Introduction:

This training program on (IPSAS) provides a comprehensive framework tailored to meet the diverse needs of government agencies, municipalities, and public organizations worldwide. Through it, participants will delve into the core principles and practices of IPSAS, gaining invaluable insights into how to enhance financial reporting accuracy and reliability.

Program Objectives:

By the end of this program, participants will be able to:

• Grasp the basics of IPSAS and its global relevance in public sector accounting.

• Prepare IPSAS-compliant financial statements with proper asset, liability, and revenue recognition.

• Implement IPSAS standards in public sector organizations, overcoming transition challenges.

• Align budgeting practices with IPSAS, improving financial reporting and control.

• Apply IPSAS principles in financial management, supported by case studies for best practices.

Targeted Audience:

• Government officials responsible for financial management.

• Accounting professionals working in public sector organizations.

• Financial managers in municipalities and public agencies.

• Auditors and compliance officers in public sector entities.

Program Outlines:

Unit 1:

Introduction to IPSAS:

• Overview of IPSAS and its importance in public sector accounting.

• Historical background and global adoption of IPSAS.

• Fundamental principles and concepts underlying IPSAS.

• Structure and framework of IPSAS standards.

• Significance of IPSAS compliance for public sector entities.

Unit 2:

IPSAS Financial Reporting Framework:

• Components and structure of IPSAS financial statements.

• Recognition and measurement criteria for assets, liabilities, revenues, and expenses.

• Presentation and disclosure requirements in IPSAS financial statements.

• Examples illustrating IPSAS financial reporting principles.

• Impact of IPSAS on financial transparency and accountability.

Unit 3:

Implementation of IPSAS:

• Steps for implementing IPSAS within public sector organizations.

• Challenges and considerations in transitioning to IPSAS.

• Strategies for aligning existing financial systems with IPSAS requirements.

• Importance of training and capacity-building initiatives for IPSAS implementation.

• Monitoring and evaluation processes to ensure IPSAS compliance.

Unit 4:

IPSAS and Budgeting:

• Techniques for the integration of IPSAS with budgetary processes in the public sector.

• Budget preparation and presentation under IPSAS guidelines.

• Budgetary control and financial management practices under IPSAS.

• Reporting on budget execution and variance analysis in accordance with IPSAS.

• Best practices for aligning budgeting practices with IPSAS requirements.

Unit 5:

IPSAS and Financial Management:

• IPSAS principles for financial management and internal control.

• Risk management and internal audit considerations under IPSAS.

• Asset management and capital projects accounting in compliance with IPSAS.

• Revenue recognition and taxation issues in the public sector under IPSAS.