IPSAS have been developed to enhance the quality, consistency. and transparency of public sector financial reporting worldwide and has been issued by the International Public Sector Accounting Standards Board (IPSASB).

This GLOMACS International Public Sector Accounting Standards or IPSAS training course enables participants to understand IPSAS and the framework for public sector accounting. This training course provides an overview of the most important requirements for preparing financial statements and disclosures under IPSAS.

This training course will help the participants with the best practices in meeting the challenges of applying IPSAS and to help in achieving their organizational objectives.

By the end of this training course, participants will be able to:

• Identify how IPSAS will fit with their organization
• Comprehend the core IPSAS values
• Explain the key differences in the new standards
• Recognize what compliant statements will look like
• Deploy key strategies for migration to IPSAS standards
• Set clear steps towards implementation
• Adopt IPSAS disclosure requirements, including accounting policies

This IPSAS training course will utilize a variety of proven techniques to ensure maximum understanding, comprehension and retention of the information presented. This training course is highly interactive involving delegates in the discussion, analysis of case studies, videos, and exercises. Where appropriate, these will include real issues brought to the workshop by delegates.

Pre & Post course assessments will be used to measure the effectiveness of this training and measure the skill and ability of participants.

This GLOMACS training course is of direct relevance to the public sector and as a result the organizations will benefit greatly from their employee’s participation. The organization will gain from employees with:

• An understanding of the requirements of IPSAS
• Enabling the Boards and organizations to make well informed and appropriate decisions
• It will help senior leaders to reduce risk of noncompliance with IPSAS
• Developing the risk management policy effectively
• Skills to evaluate performance and recommend actions to improve performance
• An ability to work independently and as valuable team members

This training course will of personally benefit delegates by providing you with:

• A better understanding of the context and importance of the work you do
• Enriched financial management knowledge and gain the latest tools, tips, and strategic thinking to lead your organization.
• Improved knowledge and skills to improve your effectiveness
• An ability to evaluate, analyze and recommend action
• Increased self-confidence and motivation at work
• Greater job satisfaction in providing quality support to management
• Greater ability to supervise, develop and motivate colleagues

This GLOMACS training course is for all staff, as all categories of staff are in one way, or another concerned with IPSAS matters.

• Heads of Departments, Directors, Senior Managers, Managers, accountants and Finance Professionals in public sectors
• Members of Audit and Advisory Committees for public/ privet sector organizations
• Senior Officials in national, provincial, and local government
• New or aspiring Board members
• Mangers in the regulators, state, and local government
• Business Consultants and professional advisers

DAY 1

Introduction to IPSASB

• Introduction to Regulatory Environment and structure of IPSASB
• The purpose of financial statements and any ongoing projects
• Background into financial accounting
• Key principles of Global Accounting Standards
• The development of Global Accounting Standards
• Underlying financial principles
• Disclosure and transparency aspects
• International Financial Reporting Standards (IFRS)
• Generally Accepted Accounting Principles (GAAP)
• The current global adoption of Global Accounting Standards
  

DAY 2

IPSAS Standards

• The strategic planning process roadmap
• Mapping regional standards to Global Accounting Standards
• Review of current IPSAS standards
• The correct application of individual IPSAS standards
• Overcoming key challenges
• Obtaining guidance and support from International Federation of Accountants
• Key IPSAS requirements within financial statements (IPSAS 1)
• Producing the statement of financial position
• Producing the statement of financial performance
• Producing the cash flow statement (IPSAS 2)
  

DAY 3

IPSAS Financial Performance

• Understanding of
  • Non-exchange revenue (IPSAS 23)
  • Exchange revenue (IPSAS 9)
  • Construction contracts (IPSAS 11)
• Accounting for assets and liabilities
  • Property plant and equipment (IPSAS 17)
  • Intangible assets (IPSAS 31)
  • Investment property (IPSAS 16)
  • Impairment of cash generating assets (IPSAS 26)
  • Impairment of non-cash generating assets (IPSAS 21)
• Borrowing costs (IPSAS 5)
  • Inventories (IPSAS 12)

DAY 4

Consolidation

• Consolidated and separate financial statements (IPSAS 6)
• Interests in joint ventures (IPSAS 8)
• Investments in associates (IPSAS 7)
• Translation of financial statements of foreign operations (IPSAS 4)
• Financial reporting in hyperinflationary economies (IPSAS 10)
• Disclosure standards and presentation of budget information (IPSAS24)
• Segment reporting (IPSAS 18)
• Related party disclosures (IPSAS 20)
• Disclosure of financial information (IPSAS 22)
• Service concessions (IPSAS 32)
  

DAY 5

Cash Basis IPSAS & First Time Adoption

• The statement of cash receipts and payments
• Disclosures
• Consolidation under the cash basis
• Presentation of budget information in the financial statements
• The additional disclosures encouraged in part 2 of the cash basis IPSAS
• Migrating from cash to accrual basis
• First time adoption of IPSAS (IPSAS 33)
• Change management and the adoption of IPSAS

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P.O. Box 74653, Dubai, United Arab Emirates
Tel : +971 - 04 - 425 0700, Fax : +971 (04) 425 0701, Email : info@glomacs.com