IPSAS aims to improve the quality of general purpose financial reporting by public sector entities, leading to better informed assessments of the resource allocation decisions made by governments, thereby increasing transparency and accountability.
The International Public Sector Accounting Standards Board (IPSASB) issues International Public Sector Accounting Standards (IPSAS) and non-mandatory guidance in the form of Recommended Practice Guidelines (RPGs) relating to the financial reporting
needs of national, regional and local governments and agencies. These represent a comprehensive set of authoritative financial reporting standards for governments and other public sector entities.
This two-day course examines the most important presentation and disclosure requirements for preparers of IPSAS accrual basis financial reports. In addition to describing the principal presentation and disclosure requirements of financial statements
prepared under IPSAS it also includes a comprehensive review the Recommended Practice Guideline (RPG 2) Financial Statement Discussion and Analysis.
The IPSASB’s goal is to serve the public interest by developing high quality accounting standards and guidance for use by public sector entities around the world in preparing general purpose financial reports. Many IPSASs are based on the International
Financial Reporting Standards (IFRS) issued by the International Accounting Standards Board (IASB). IPSASB adapts IFRSs to a public sector context, where appropriate. In undertaking that process, the IPSASB attempts, wherever possible, to maintain
the accounting treatment and original text of the IFRS unless there is a significant public sector issue which warrants a departure.
The IPSAS accounting and disclosure requirements and guidelines are explained in clear, simple language and illustrated with model financial statements and real-world examples.
Application is illustrated through the use of short case studies.
In addition to a review of current accrual basis IPSAS, our specialist instructors provide guidance on transitioning to the accrual basis. This program answers questions such as:
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