This one-day course provides an overview of the most important requirements for accounting for revenues under IPSAS. It focuses upon the application of IPSAS 23 Revenue from Non-exchange Transactions, where it considers issues relevant
to recognition of taxes by government entities and the receipt and grant of donated goods and services, including assessed contributions, program and voluntary funds by other public bodies. Other areas covered include concessionary loans, the
impact of principal or agent status on the recognition of revenues and expenses, IPSAS 9 Revenue from Exchange Transactions and IPSAS 11 Construction Contracts. The course also considers sources of guidance
for recognition of expenses from non-exchange transactions, for example, by providers of grants and donated goods and services.
The IPSAS accounting, financial reporting and disclosure requirements are explained in clear, simple language and illustrated with model financial statements and real-world examples. Application of the various applicable standards is illustrated through
the use of short case studies.
In addition to a review of current IPSAS, the course covers the IPSASB’s Consultation Paper Accounting for Revenue and Non-Exchange Expenses. This is the first stage of a longer-term project to improve guidance on accounting for
all types of revenue and non-exchange expenses.
This program answers questions such as:
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