The International Public Sector Accounting Standards Board (IPSASB) issues accounting standards and other guidance relating to the financial reporting needs of national, regional and local governments, governmental agencies, and the constituencies they serve. The International Public Sector Accounting Standards (IPSAS) that have been issued by the IPSASB represent the first and only comprehensive set of authoritative international financial reporting standards for governments and public sector entities.

The IPSASB’s goal is to serve the public interest by developing high quality accounting standards for use by public sector entities around the world in the preparation of general purpose financial statements. This will enhance the quality and transparency of public sector financial reporting and strengthen public confidence in public sector financial management. In pursuit of this objective, the IPSASB supports the convergence of international and national public sector accounting standards and the convergence of accounting and statistical bases of financial reporting where appropriate.

Some countries and entities wish to improve their existing cash basis accounting frameworks by adopting the IPSAS Cash Basis Standard. Adoption of this Standard, revised 2017, enables more comprehensive and transparent financial reporting of cash receipts and payments and cash balances of the entity and enhances comparability over time and between entities. It also provides guidance on establishing reporting boundaries (consolidation), minimum levels of mandatory disclosure, including that of financial assistance, as well as providing optional recommended best practices enhancing disclosure. Full adoption of the Cash Basis IPSAS is often the first step toward the eventual adoption of accruals basis IPSAS which are comprehensively covered in our other courses.

This two-day course provides a comprehensive overview of the most important requirements for preparing financial statements and disclosures under the Cash Basis IPSAS as well as examining the key features of accruals basis and conversion from cash to accruals.

The IPSAS accounting and disclosure requirements are explained in clear, simple language and illustrated with model financial statements and real-world examples. Application of the requirements and recommendations of this Standard are illustrated through the use of short case studies.

In addition of a review of current Cash Basis IPSAS, our specialist instructors provide guidance on how adoption of the Cash Basis IPSAS can be a first step in transitioning o the accrual basis.

This program answers questions such as:

  • What are the current requirements of the Cash Basis IPSAS and how does the 2017 version differ from the previous standard?
  • What are the requirements for presentation of Cash Basis IPSAS financial statements and related disclosures?
  • What additional best practices are recommended by the Cash Basis IPSAS
  • How does adoption of the Cash Basis IPSAS assist entities wishing to transition eventually to full accruals based accounting under IPSAS?
  • What are the key features of the accruals basis IPSAS
  • What are the recommendations for transitioning from the cash to the accrual basis of accounting and what are the key features of IPSAS 33?
  • Where can guidance on IPSAS be found?
  • What practical issues commonly arise when implementing Cash Based IPSAS?

Learning Objectives

  • Understand Cash basis IPSAS requirements, including accounting policies and disclosures
  • Understand the manner in which general purpose financial statements should be presented under the Cash Basis IPSAS of accounting
  • Plan ahead for issues that arise when transitioning from the cash (or modified cash) basis to the accrual basis of accounting
  • Learn the sources of IPSAS guidance that are available

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Skill Level: Beginner