IPSAS Workshop – Mastering Accrual Accounting for Public Sector Entities
Welcome to the Executive IPSAS Immersion Workshop (Public Sector Accounting), a meticulously curated three-day intensive program designed to empower senior executives from the public sector with advanced knowledge and strategic insights into the complexities of governmental and public entity financial reporting. This workshop serves as a beacon for those who aspire to excel in the stewardship of public resources, offering a profound exploration of both accrual and cash basis accounting frameworks, underpinned by the International Financial Reporting Standards (IFRS) issued by the International Accounting Standards Board (IASB). Our agenda is carefully structured to navigate the intricacies of public sector-specific accounting challenges, ensuring participants emerge with a commanding grasp of the principles required to master the recognition, measurement, presentation, and disclosure of transactions and events within the sphere of public sector financial statements.
Amidst the evolving landscape of global financial reporting, this workshop arrives at a critical juncture. The global momentum towards enhanced transparency and the adoption of accrual accounting practices across public sector entities underscores the pivotal role of informed leadership in this transformative era. Engaging in this program, you will join an elite cadre of professionals dedicated to advancing public sector financial management and reporting, championing the cause of transparency and global comparability.
Our comprehensive curriculum extends beyond foundational principles to encompass a detailed examination of the latest developments within the International Public Sector Accounting Standards (IPSAS), equipping you with the foresight and agility to navigate and implement these standards effectively:
- IPSAS 41, Financial Instruments (Effective January 1, 2023): A pivotal standard that revises the landscape for financial instruments, introducing sophisticated models for classification, measurement, impairment testing, and hedge accounting.
- IPSAS 42, Social Benefits (Effective January 1, 2022): This standard provides a robust framework for the accounting of social benefits, addressing a crucial dimension of public sector commitments.
- IPSAS 43, Leases (Effective January 1, 2025): A transformative standard that introduces a right-of-use model for lessees and updates lessor accounting practices, significantly altering lease reporting.
- IPSAS 44, Non-Current Assets Held for Sale and Discontinued Operations (Effective January 1, 2025): This standard offers fresh perspectives on the treatment and disclosure of non-current assets and discontinued operations, enhancing transparency and decision-making.
- IPSAS 45, Property, Plant, and Equipment (Effective January 1, 2025): Sets forth comprehensive guidelines for the recognition, measurement, and disclosure of property, plant, and equipment, ensuring assets are accurately reported and managed.
- IPSAS 47, Revenue (Effective January 1, 2026): A groundbreaking standard that consolidates and updates the framework for revenue recognition, aligning closely with the principles of IFRS 15 for both commercial and non-exchange transactions.
- IPSAS 48, Transfer Expenses (Effective January 1, 2026): Introduces a dedicated standard for accounting for transfer expenses, such as grants, filling a significant gap in the IPSAS suite.
- IPSAS 49, Retirement Benefit Plans (Effective January 1, 2026): Establishes comprehensive accounting and reporting requirements for retirement benefit plans, enhancing accountability and transparency in public sector pension obligations.
This workshop is an unparalleled opportunity to gain mastery over these critical standards, each representing a key pillar in the foundation of public sector financial integrity. Through a blend of expert-led lectures, case studies, and interactive exercises, participants will not only absorb the theoretical underpinnings but also engage in the practical application of these standards, ensuring readiness for their effective implementation.
We invite you to embark on this enlightening journey with us, to refine your expertise and lead with confidence in the realm of public sector accounting. Join us for an enriching experience that promises not only to elevate your professional acumen but also to contribute significantly to the advancement of public financial management and reporting standards worldwide.
Key Learning Features
- Gain a thorough understanding of public sector accounting standards, including the differences between accrual accounting and cash basis accounting, and their practical applications
- Develop a comprehensive understanding of financial reporting, including recognition, measurement, presentation, and disclosure requirements for public sector entities
- Understand the importance of transparency, consistency, and comparability in financial reporting, and how to achieve these goals in the public sector context
- Discover the latest in public sector accounting standards, spanning IPSAS 41 Financial Instruments to IPSAS 49 Retirement Benefit Plans and beyond. This module covers critical updates, including the nuanced guidance of IPSAS 41 on financial instruments and the comprehensive lease accounting directives of IPSAS 43, examining their significant impact on public sector entities.
- Delve into sustainability standards with RPG 1 on long-term financial sustainability and RPG 3 on service performance reporting, understanding their roles in enhancing public sector accountability and environmental stewardship.
- Explore real-world case studies and examples to apply your knowledge and skills to practical scenarios
- Engage in interactive discussions and activities with expert trainers and fellow participants to deepen your learning and build your professional network
- Gain practical skills in preparing and analyzing financial statements, and in conducting audits of public sector entities
- Stay up-to-date with the latest trends and best practices in public sector accounting, and apply this knowledge to enhance your organization’s financial reporting and management practices.
For More Information
We warmly invite you to take advantage of our Public Sector Accounting Immersion Workshop, which offers a unique opportunity to gain fundamental knowledge and deeper insights into the latest developments in public sector accounting standards. Our comprehensive program is designed to equip you with the essential knowledge and practical skills required to excel in public-sector accounting. We would be delighted to provide you with further details on the workshop and assist you with the enrollment process. Our dedicated customer service team is committed to delivering exceptional service and addressing any inquiries you may have.
Investing in your professional development is a key factor for career growth, and we are excited to support you in expanding your horizons with our program. We look forward to the opportunity to assist you in achieving your goals and to welcoming you to our Public Sector Accounting Immersion Workshop.
Don’t miss this opportunity to enhance your skills and advance your career in public sector accounting. Contact our customer service team today to learn more and enroll in our program!
Our trainers have specialist knowledge and first-hand experience in implementing the International Financial Reporting Standards (IFRS), International Public Sector Accounting Standards (IPSAS), Generally Accepted Accounting Principles (USGAAP), UK GAAP, Risk management strategies, Valuations, Mergers & Acquisitions, Corporate Governance, Environmental, social, and corporate governance (ESG) reporting, Supply Chain Management, Prudential regulations, Compliance matters (such as Basel regulations, Solvency II, Anti Money Laundering regulations and a number of other evolving regulatory matters) and a whole range of professional development programs (e.g., Negotiations Skills, Presentation Skills, Data Management, Python, Block-Chain, Digital Assets, Becker CPA etc.)
This ensures an engaging and stimulating learning experience for professionals and senior executives, helping to ensure knowledge is retained. They understand the accounting and regulatory requirements, risk environment, industry issues and challenges, risk management strategies, financial reporting & disclosure requirements, and compliance environment. They impart their knowledge using real-life industry examples, simple and user-friendly presentations of important concepts/approaches and case studies.
Instructor for this course
Our Partners in Learning
Introduction to Public Sector Accounting Developments and Conceptual Framework
- Overview of the Public Sector Accounting Requirements
- Structure of the Public Sector Accounting Requirements and Standard-Setting Process
- Current Stage of Accrual/Modified Cash Basis Accounting Implementation Across the Globe (Link with PwC Global Survey on Government Accounting and Reporting)
- Overview of the Conceptual Framework and Key Accounting Principles
- Differences and Similarities with IFRS
- Discussion of the Recognized Benefits of Accrual Accounting
- Accounting Policies, Changes in Accounting Estimates, and Errors
- Presentation of Financial Statements and Specific Disclosure Requirements
- The Statement of Financial Position
- The Statement of Financial Performance
- The Statement of Changes in Net Assets/Equity
- The Statement of Cash Flows
- Events After Reporting Date
- Segment Reporting
- Related Party Disclosures
- Presentation of Budget Information
- Case Study: Analysis of Public Sector Financial Statements of a Government and an International Organization
Implementing Accrual/Modified Cash Basis Accounting in Practice – The Transition Step by Step
- Public Sector Accounting Conversion Methodology
- Gap Analysis and Roadmap – Understanding the Main Challenges and Developing the Detailed Project Plan
- Conversion – Implementing the Change at All Levels and Preparing the First Compliant Financial Statements
- Embedding – Ensuring Changes Last, Adapting Systems, Processes, Information Flows to Accounting Requirements and Making Sure That Public Sector Accounting Knowledge Is Spread Across the Organization
- Project Planning and Resources
- Impact on IT Systems and Budgets
- Discussion of Implementation Challenges
- Q&A Session
IPSAS Standards in Practice: Implementing Existing and New Accounting Standards
- Property, Plant, and Equipment
- Discussion of Main Items of PP&E
- Analysis of PP&E Life Cycle
- Recognition of PP&E – Elements to Be Included in the Acquisition Cost, Use of Materiality Thresholds, Borrowing Costs, Self-Constructed Assets
- Initial Measurement and Measurement Subsequent to Recognition – Cost Model versus Revaluation Model
- Depreciation, Applying the Components Approach
- Impairment of Cash-Generating Assets and Non-Cash-Generating Assets: How to Distinguish Them, How to Apply the Principles
- De-recognition of Items of PP&E
- Case Studies: Identification and Measurement of PP&E
- Key Disclosure Requirements
- Discussion on Practical Implementation Challenges (Focusing on Key Issues for Governments and Other Public Sector Entities: Infrastructure and Military Assets, Heritage Assets, Land and Buildings, Project Assets, Opening Balance Sheet Preparation and Availability of Historical Data, etc.)
- Investment Property
- Scope and Definition, Identification of Investment Property
- Recognition and Measurement
- Case Study: Identification of Investment Property
- Key Disclosures Requirements
- Discussion on Practical Implementation Challenges
- Intangible Assets
- Key Items of Intangible Assets in the Public Sector (Concessions, Development Costs, etc.)
- Recognition and Measurement of Intangible Assets
- Case Study: Accounting for Internally Developed Software
- Key Disclosure Requirements
- Discussion on Practical Implementation Challenges
- Financial Instruments: Presentation and Disclosure
- Overview of IPSAS 41 and its key requirements Classification of financial instruments Measurement of financial instruments Disclosures
- IPSAS 42 – Social Benefits
- Overview of IPSAS 42 and its key requirements Recognition and measurement of social
- Classification of Operating and Finance Leases
- Accounting for Operating Leases:
- Lessee Accounting
- Lessor Accounting
- Accounting for Finance Leases:
- Lessee Accounting
- Lessor Accounting
- Case Study:
- Finance Lease Accounting and Effective Interest Rate
- IPSAS 43, Leases
- Operating and finance lease classification, lessee and lessor accounting
- IPSAS 44, Non-Current Assets Held for Sale and Discontinued Operations:
- Recognition, measurement, and disclosures
- IPSAS 45, Property, Plant, and Equipment:
- Recognition, initial and subsequent measurement, depreciation, impairment, and derecognition
- IPSAS 46, Measurement:
- Overview of measurement bases, including current operational value
- IPSAS 47, Revenue:
- Key principles aligned with IFRS 15, recognition, and measurement of revenue from exchange and non-exchange transactions
- IPSAS 48, Transfer Expenses:
- Accounting for grants and other non-reciprocal transfers
- IPSAS 49, Retirement Benefit Plans:
- Accounting and reporting requirements for retirement benefit plans
- RPG 1 and RPG 3 on Sustainability:
- Introduction to sustainability reporting guidelines for long-term financial sustainability and service performance
- Latest Amendments and Exposure drafts
- Real Life Examples
- Group Case Studies
Why you must attend?
Are you interested in enhancing your knowledge and skills in the field of public sector accounting? Then the Public Sector Accounting Immersion Workshop is the perfect opportunity for you! This workshop is specifically designed to provide comprehensive and practical training on the latest developments and concepts in public sector accounting. Led by expert trainers with extensive experience in the field, the workshop will cover a range of topics, including the structure of public sector accounting requirements and the standard-setting process, the implementation of accrual/modified cash basis accounting, property, plant, and equipment, investment property, intangible assets, and leases, and many more.
One of the highlights of this workshop is its emphasis on practical implementation challenges. Through interactive case studies and group discussions, you will have the opportunity to apply the concepts you learn in real-world scenarios and gain valuable insights into the challenges faced by public sector entities in implementing these standards. Attending this workshop will provide you with a deep understanding of the key principles and concepts of public sector accounting, and equip you with the tools and knowledge necessary to implement these standards in your organization. This knowledge will not only enhance your professional expertise, but also add value to your organization by improving financial reporting and decision-making.
Don’t miss out on this unique opportunity to advance your career in public sector accounting. Join us for the Public Sector Accounting Immersion Workshop and take your knowledge and skills to the next level!
Key learning objectives
By attending the Public Sector Accounting Immersion Workshop, you will:
- Gain a comprehensive understanding of accrual accounting concepts, recognition, measurement, presentation and disclosure requirements.
- Analyze real-life accrual/cash basis accounting financial statements to enhance your practical understanding of accounting standards.
- Grasp the strategic implications of accrual accounting adoption and identify the key benefits for your organization.
- Evaluate the impact of the application of accrual accounting on your organization, including the effects on financial performance, reporting and budgeting.
- Develop insights into the practical implications and challenges of an accounting conversion project.
- Acquire best implementation practices and strategies for successful implementation of accrual accounting.
- Learn how to apply accrual accounting in practice, with hands-on training exercises and case studies.
- Identify new career opportunities in relation to public sector accounting, and increase your value as a financial professional.
The training program will employ a comprehensive and engaging approach to learning, designed to deliver maximum impact and retention. The methodology includes:
- A user-friendly slide deck that presents the concepts, methodologies, and principles in a clear and concise manner, making the material easily accessible to all attendees.
- Interactive sessions featuring real-life case studies to provide hands-on experience and bring the material to life.
- Explanations of concepts and methodologies through the use of examples and distinct scenarios, allow attendees to understand the material in context.
- Group exercises designed to illustrate accounting principles, encouraging collaboration, and fostering a deeper understanding of the material.
- Discussions on GAAP differences, industry issues, and diversity in practices provide attendees with a well-rounded understanding of the subject matter.
- Access to additional course material and handouts, ensuring attendees have a comprehensive reference resource to support their learning.
- An open and inclusive atmosphere that encourages attendees to ask questions and engage in discussion, ensuring a thorough understanding of the material.
The combination of these elements creates a dynamic and engaging learning experience that will support the professional development of all attendees.
Who should attend?
This course is designed for:
- Public sector senior executives: Chief Financial Officers, Finance Directors, Accountant General, Auditors General, etc.
- Practitioners involved in public sector accounting: accountants, auditors, finance and non-finance staff, budget officers, controllers, treasurers, etc.
- Public Sector accounting conversion project managers and experts, etc.
- Academics, accountancy students, etc. and any person who wants to develop a good understanding and working knowledge of the public sector accounting requirements and its challenges.
No matter your background or experience level, this workshop provides valuable knowledge and skills that will help you stay ahead in today’s global reporting environment. Join us today and gain the competitive edge you need to succeed.
Upon completion of the course, all delegates will receive an evaluation questionnaire aimed at gathering valuable feedback. This feedback is crucial to Shasat’s ongoing commitment to improving the quality of its learning solutions. By analyzing the trends in the responses, we are able to continuously enhance and refine our offerings to meet the evolving needs of our clients.
Venue & other info
Our training programs take place at the most prestigious professional training facilities in the city. Our venues have been meticulously chosen and expertly crafted to deliver an unparalleled and sophisticated learning experience. To further elevate your training journey, we will offer an array of refreshments including gourmet tea/coffee, delectable snacks, and a sumptuous lunch to sustain you throughout the course. Your comfort and satisfaction are of the utmost importance to us. One week before the program begins, you will receive comprehensive joining instructions that include the exact venue details.
Please note that accommodation arrangements are the responsibility of the attendee.
Workshop Delivery (Online Programs)
The workshop will be delivered via the WebEx platform. Upon registration, all participants will receive comprehensive joining instructions for the live workshop. This fully virtual event will encompass a live-streamed presentation, personalized networking opportunities, interactive Q&A sessions, engaging polls, and post-event consultation to address specific concerns and support your continued growth.
Please be advised that for all in-person training programs, joining instructions will be sent via email to registered participants one week prior to the program’s commencement. These instructions will provide comprehensive information regarding the venue location, date, and time, as well as other important details such as parking arrangements, dress code, and any necessary equipment or materials. Kindly ensure that you carefully review the joining instructions and follow the guidelines provided to ensure a smooth and well-organized experience during the program.
Changes to the conference
Shasat reserves the right, at its sole discretion, to make modifications to the format, speakers, participants, content, venue location, program, or any other aspect of the conference, at any time and for any reason, without incurring any liability. This policy has been implemented due to recent events such as the Covid-19 pandemic and other jurisdictional restrictions. These modifications may include but are not limited to, changes necessitated by a Force Majeure Event
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We kindly request that you take into consideration any associated bank fees when making your course fee payment. To ensure your participation in the program, payment must be received before the course date. Once we have received both payment and a completed registration form, we will confirm your enrollment in the program. Thank you for your understanding and cooperation.
Our company is proud to offer a group discount of 15% for organizations or individuals who book a course for 5 or more participants. To take advantage of this offer and receive a personalized group discount code, please reach out to our customer service desk at firstname.lastname@example.org. Our team will be delighted to assist you with the booking process and answer any questions you may have. With this group discount, you can invest in the professional development of your team and drive success for your organization. Don’t hesitate to contact us today to learn more.
Upon successful completion of the training course, each participant will receive a certificate of completion that attests to the number of hours spent in training and serves as a valuable representation of their dedication to professional development. The certificate is not only a symbol of their achievement but also serves as proof of continuous professional development (CPD) and demonstrates their commitment to staying current in their field. We believe that CPD is a crucial aspect of career advancement and personal growth, and are proud to provide our participants with this important document.
For further assistance, we invite you to contact our dedicated customer service team. Our experienced and knowledgeable representatives are available to answer any questions you may have and provide the support you need to make informed decisions. We are committed to ensuring that you have a positive experience and are here to help in any way we can. Please don’t hesitate to reach out to us at your convenience.
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