Ipsas - Presentation, Disclosure And Financial Reports

Overview

The critical need to increase Transparency and Accountability Programme in the use of financial resources by governments at all levels in order to stem the eruption of crisis and vitiate development efforts has necessitated the development and adoption of internationally acceptable public sector financial standards. Globally, countries and governments have adopted the standards for implementation. To effectively use the standards there is the need for enlightenment and training on the various aspects of the document.

This course has been designed to provide an overview, the requirements, and strategies for effective adoption and implementation of the standards.

Who to Attend

Directors at all levels in charge of Finance, Directorates of Government service, Internal and External Auditors, and Account officers.

Objectives

The objectives of this course are, to:

Introduce participants to the IPSAS.
Enable participants to understand the necessary steps required for adopting and implanting the standards.
Guide participants to identify the challenges related to the implementation of the standards.
Enhance Transparency and Accountability Programmein the use of financial resources in public sector organisations.

Outlines

Introduction to IPSAS
Conceptual framework for general purpose financial reporting by public sector entities
Reporting & Disclosure
Accounting and financial reporting for service concession arrangements
Provisions, Contingent Liabilities and Contingent Assets
Presentation of Financial Statements and Cash Flow Statements
Presentation of Budget Information in Financial Statements
Accounting Policies, Changes in Accounting Estimates and Errors
Revenues & Related Costs
Foreign Exchange Rates
Consolidated and Separate Financial Statements
Transitioning to the Accrual Basis of Accounting
Impairment of Non-cash generating assets and cash-generating assets
Amendments, reviews and changes in IPSAS and expected future developments
Problems and Challenges of Adopting and Implementing IPSAS.