In today’s globalized world, public sector entities are under increasing pressure to demonstrate financial transparency, accountability, and comparability. International Public Sector Accounting Standards (IPSAS) provide a robust framework for achieving these goals by moving public finance from a cash-based to an accrual-based system. This shift offers a more comprehensive and accurate view of an organization's financial health, enabling better decision-making and fostering greater public trust. This course will show you how to navigate the complexities of IPSAS and leverage its full potential to improve your financial reporting.

This program is designed to take financial professionals beyond the theoretical understanding of IPSAS and provide a practical, hands-on guide to its implementation. You will learn the critical steps required to transition to accrual-based reporting, manage key assets and liabilities, and prepare IPSAS-compliant financial statements. By the end of this course, you will be equipped to lead your organization's compliance efforts, address common implementation challenges, and ensure your financial reports meet the highest standards of international best practice.

Duration

5 days

Target Audience

• Public sector accountants and financial managers
• Internal and external auditors
• Budgeting and planning officers
• Senior government officials and policymakers
• Board members of public entities
• Financial consultants to the public sector
• Academics and researchers in public finance
• Students pursuing careers in public financial management
• Procurement and supply chain managers
• Individuals responsible for preparing public financial statements

Objectives

• Understand the conceptual framework and key principles of IPSAS.
• Differentiate between cash-basis and accrual-basis accounting in the public sector.
• Apply core IPSAS standards to specific public sector financial transactions.
• Identify and manage the common challenges of IPSAS implementation.
• Prepare complete and accurate IPSAS-compliant financial statements.
• Analyze the impact of IPSAS on budgeting and performance management.
• Develop a practical roadmap for transitioning to IPSAS.
• Interpret IPSAS-based financial reports for better decision-making.
• Ensure ethical and transparent reporting in compliance with international standards.

Course Modules

Module 1: Foundations of IPSAS and the Conceptual Framework

• The rationale and benefits of adopting IPSAS.
• The role of the IPSAS Board and the standard-setting process.
• The conceptual framework for general purpose financial reporting.
• The fundamental principles of accrual-based IPSAS.
• Comparing IPSAS to other national and international accounting standards.

Module 2: Presentation and Disclosure (IPSAS 1 & 2)

• Requirements for the statement of financial position and performance.
• The statement of cash flows under IPSAS.
• Presentation of budget information in the financial statements.
• Disclosure requirements and notes to the financial statements.
• Practical exercises on preparing financial statement templates.

Module 3: Accounting for Assets

• Recognition and measurement of property, plant, and equipment (IPSAS 17).
• Accounting for intangible assets (IPSAS 31).
• Impairment of non-cash-generating assets (IPSAS 21).
• Inventory valuation and recognition (IPSAS 12).
• Accounting for leases.

Module 4: Accounting for Liabilities and Revenue

• Provisions, contingent liabilities, and contingent assets (IPSAS 19).
• Accounting for employee benefits (IPSAS 25).
• Revenue from exchange and non-exchange transactions (IPSAS 9 & 23).
• The treatment of grants and other public sector transfers.
• Debt and financial instrument reporting.

Module 5: IPSAS for Specific Transactions

• The accounting for foreign exchange rates (IPSAS 4).
• Related party disclosures (IPSAS 20).
• The effects of changes in accounting policies and estimates.
• Events after the reporting date (IPSAS 14).
• Borrowing costs (IPSAS 5).

Module 6: Consolidation and Group Reporting

• The principles of consolidated financial statements (IPSAS 35).
• Accounting for investments in associates and joint ventures.
• Reporting for government-wide entities and special-purpose vehicles.
• Disclosure requirements for group financial reporting.
• Practical exercises on consolidation adjustments.

Module 7: Implementation and Transition Management

• Developing a strategic roadmap for IPSAS adoption.
• Key data collection and system requirements for accrual accounting.
• Managing change and engaging stakeholders during the transition.
• First-time adoption of IPSAS (IPSAS 33).
• Case studies on successful IPSAS implementation projects.

Module 8: Auditing and Oversight

• Key audit considerations for IPSAS-based financial statements.
• The role of internal audit in ensuring IPSAS compliance.
• Audit procedures for specific IPSAS standards.
• The importance of robust internal controls in an IPSAS environment.
• The role of supreme audit institutions and other oversight bodies.

Training Approach

This course will be delivered by our skilled trainers who have vast knowledge and experience as expert professionals in the fields. The course is taught in English and through a mix of theory, practical activities, group discussion and case studies. Course manuals and additional training materials will be provided to the participants upon completion of the training.

Tailor-Made Course

This course can also be tailor-made to meet organization requirement. For further inquiries, please contact us on: Email: info@skillsforafrica.org, training@skillsforafrica.org Tel: +254 702 249 449

Training Venue

The training will be held at our Skills for Africa Training Institute Training Centre. We also offer training for a group at requested location all over the world. The course fee covers the course tuition, training materials, two break refreshments, and buffet lunch.

Visa application, travel expenses, airport transfers, dinners, accommodation, insurance, and other personal expenses are catered by the participant

Certification

Participants will be issued with Skills for Africa Training Institute certificate upon completion of this course.

Airport Pickup and Accommodation

Airport pickup and accommodation is arranged upon request. For booking contact our Training Coordinator through Email: info@skillsforafrica.org, training@skillsforafrica.org Tel: +254 702 249 449

Terms of Payment: Unless otherwise agreed between the two parties’ payment of the course fee should be done 7 working days before commencement of the training.