INTRODUCTION:

Governments and public sector entities are under increasing pressure to improve transparency, accountability, and financial reporting standards. International Public Sector Accounting Standards (IPSAS) provide a globally recognized framework for achieving these goals. This course is designed to equip public finance professionals, policymakers, and auditors with the knowledge and skills to implement IPSAS effectively, fostering enhanced governance and decision-making.

The course begins with a thorough overview of the principles and objectives of IPSAS. Participants will learn how these standards differ from other frameworks, such as International Financial Reporting Standards (IFRS), and why they are essential for public sector financial management. This foundational knowledge will set the stage for deeper exploration of specific standards and their practical applications.

Throughout the program, participants will engage with the fundamental concepts of accrual accounting, a cornerstone of IPSAS. The transition from cash-based to accrual-based accounting is often challenging but critical for accurate financial representation. The course will guide attendees through this transition, providing tools and techniques to overcome common obstacles.

COURSE OBJECTIVES:

By the end of the program, attendees will be able to;

• Distinguish IPSAS from other accounting frameworks such as IFRS.
• Master the concepts of accrual accounting and its application in the public sector.
• Learn the process of transitioning from cash-based to accrual-based accounting.
• Gain expertise in preparing and interpreting IPSAS-compliant financial statements.
• Explore best practices in budgeting, asset management, and financial reporting under IPSAS.

COURSE OUTLINE:

Module 1: Introduction to IPSAS

• History and development of IPSAS
• Importance of IPSAS for public sector transparency and accountability
• Overview of key IPSAS standards and their objectives
• Comparison of IPSAS and IFRS frameworks

Module 2: Accrual Accounting Fundamentals

• Differences between cash-based and accrual-based accounting
• Core concepts and principles of accrual accounting
• Benefits of accrual accounting for public sector entities
• Practical examples of accrual accounting applications

Module 3: Transitioning to IPSAS

• Steps for transitioning from cash to accrual accounting
• Identifying and addressing challenges in the transition process
• Tools and resources for effective IPSAS implementation
• Case studies of successful transitions in various jurisdictions

Module 4: Financial Reporting under IPSAS

• Preparing IPSAS-compliant financial statements
• Key standards for revenue, expenses, and financial position reporting
• Ensuring accuracy and comparability in financial reporting
• Practical exercises in interpreting IPSAS financial statements

Module 5: Budgeting and Asset Management

• Integrating IPSAS principles into public sector budgeting
• Best practices for asset recognition, measurement, and reporting
• Managing public sector liabilities under IPSAS
• Real-world examples of IPSAS-based budgeting and asset management

Module 6: Global Case Studies and Lessons Learned

• Benefits of IPSAS adoption: transparency, efficiency, and comparability
• Challenges faced during implementation and strategies for overcoming them
• Insights from successful IPSAS adoption in diverse regions
• Future trends in public sector accounting and the evolving role of IPSAS

TARGET AUDIENCE:

• Public sector finance and accounting professionals seeking to enhance their expertise
• Auditors and compliance officers responsible for ensuring financial transparency
• Policymakers and government officials involved in fiscal management and governance
• International development organizations and NGOs engaged in public sector capacity building
• Regulators and standard-setters working on financial reporting frameworks

Venue: Dubai

Duration: 1 week

Date: Open