Day 1: Introduction to IPSAS
Session 1: Understanding IPSAS
- Overview of Public Sector Accounting
- What is IPSAS?
- Objectives and Benefits of IPSAS
- Key Differences between IPSAS and Local GAAP
Session 2: IPSAS Framework and Governance
- Structure of IPSAS
- Role of the IPSASB (International Public Sector Accounting Standards Board)
- The IPSAS Conceptual Framework
- Key IPSAS Standards (IPSAS 1 to 39 Overview)
Session 3: Key IPSAS Standards
- Detailed exploration of significant IPSAS standards
- IPSAS 1: Presentation of Financial Statement
- IPSAS 2: Cash Flow Statements
- IPSAS 3: Accounting Policies, Changes in Accounting Estimates and Errors
- IPSAS 4: The Effects of Changes in Foreign Exchange Rates
Session 4: Asset and Liability Recognition
- IPSAS 17: Property, Plant, and Equipment
- IPSAS 31: Intangible Assets
Day 2: Implementation of IPSAS
Session 1: Revenue and Expense Recognition
- IPSAS 19: Provisions, Contingent Liabilities, and Contingent Assets
- Measurement and disclosure requirements
- IPSAS 9: Revenue from Exchange Transactions
- IPSAS 23: Revenue from Non-Exchange Transactions
- IPSAS 12: Inventories
Session 2: Transitioning to IPSAS
- Steps in Transitioning to IPSAS
- Understanding the Transition Process
- Common Challenges faced during the Transition
Session 3: Preparing IPSAS-Compliant Financial Statements
- Key components of financial statements under IPSAS
- Balance Sheet
- Statement of Financial Performance
- Statement of Changes in Net Assets/Equity
- Notes to the Financial Statements
Practical Exercise: Preparing an example financial statement
Session 4: Financial Statement Analysis
- Analyzing IPSAS-compliant financial statements
- Financial Performance Metrics
- Group work: Discuss the results of financial statement analysis and share insights
Day 3: Practical Application and Evaluation
Session 1: Special Topics in IPSAS
- Sector-specific applications of IPSAS in healthcare, education, and local government
- Emerging trends and future developments in IPSAS
Session 2: Auditing IPSAS-Compliant Financial Statements
- Overview of the Auditing process for IPSAS
- Role of external auditors
- Common findings in IPSAS audits
3: Interactive Workshop
- Hands-on workshop: Participants will work in teams to prepare an IPSAS-compliant financial statement based on given data.
- Presentations of team work with feedback from trainers.
Session 4: Course Wrap-Up and Evaluation
- Review of key learnings from the three days
- Open floor for participant questions and discussion
