Course 3401: IPSAS - Presentation, Disclosure and Financial Reports (2
days)
Course introduction
IPSAS aims to improve the quality of general purpose financial reporting by public sector entities, leading to better
informed assessments of the resource allocation decisions made by governments, thereby increasing transparency
and accountability. The International Public Sector Accounting Standards Board (IPSASB) issues International Public
Sector Accounting Standards (IPSAS) and non-mandatory guidance including Recommended Practice Guidelines
(RPGs) relating to the financial reporting needs of national, regional and local governments, governmental agencies,
and the constituencies they serve. These represent the first and only comprehensive set of authoritative
international financial reporting standards for governments and other public sector entities.
This two-day course examines the most important presentation and disclosure requirements for preparers of IPSAS
accruals based financial reports. In addition to describing the principal presentation and disclosure requirements of
financial statements prepared under IPSAS it also includes a comprehensive review of the recently issued
Recommended Practice Guideline on Financial Statement Discussion and Analysis and an introduction to RPG 1
Reporting on the Long-Term Sustainability of an Entity’s Finances. The program is fully up to date for 2014 and 2015
year ends.
The IPSASB’s goal is to serve the public interest by developing high quality accounting standards and guidance for
use by public sector entities around the world in the preparation of general purpose financial reports. This will
enhance the quality and transparency of public sector financial reporting and strengthen public confidence in public
sector financial management. A number of countries have transformed their accounting systems to accrual
accounting based on IPSAS as well as organisations including The European Commission (EC), the International
Federation of Accountants (IFAC), and the Organization for Economic Co-Operation and Development (OECD). The
United Nations (including all their agencies) are currently making the transition to IPSAS.
IPSAS are based on the International Financial Reporting Standards (IFRS) issued by the International Accounting
Standards Board (IASB). IPSASB adapts IFRS to a public sector context when appropriate. In undertaking that
process, the IPSASB attempts, wherever possible, to maintain the accounting treatment and original text of the IFRS
unless there is a significant public sector issue which warrants a departure.
The IPSAS accounting and disclosure requirements and guidelines are explained in clear, simple language and
illustrated with model financial statements and real-world examples.
Application is illustrated through the use of short case studies.
Course 3401: IPSAS - Presentation, Disclosure and Financial Reports (2 days)
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In addition to a review of current accrual-based IPSAS, our specialist instructors provide guidance on transitioning to
the accrual basis. Course delegates also receive a high level overview on the status of IPSASB’s current exposure
drafts relating to presentation and disclosure.
This program answers questions such as:
What are the differences between mandatory Standards and non-mandatory Guidelines and which types of
entities and financial reports do they apply to?
What are the IPSAS requirements and best practices relating to presentation and disclosures?
In which areas are alternative presentations allowed?
What are the most important issues to consider when preparing disclosures?
How do the presentation and disclosure choices made affect your stakeholder perceptions?
Which entities are applying the RPG’s?
Are there any upcoming changes in IPSAS pertaining to financial reporting, presentation and disclosures?
The programme is fully up to date with the latest Standards issued by the IPSASB relating disclosures in separate
financial statements and of interests in other entities (IPSAS 34 and IPSAS 38).
Topics
Introduction to IPSAS
Brief history and scope of IPSAS
The scope of general purpose financial statements and financial reports
Presentation of Financial Statements
IPSAS 1 Presentation of Financial Statements
Required financial statements
Structure and content
IPSAS 2 Cash Flow Statements
Operating, investing and financing activities
Required reconciliation disclosures
General disclosure requirements
IPSAS 3 Policies, changes in accounting estimates & errors
IPSAS 14 Events after the reporting period
Disclosure Notes Relating to Non-current, Non-financial Assets
Property, plant & equipment (IPSAS 17)
Course 3401: IPSAS - Presentation, Disclosure and Financial Reports (2 days)
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Borrowing costs (IPSAS 5)
Investment property (IPSAS 16)
Intangible assets (IPSAS 31)
Impairment (IPSAS 21 & 26)
Inventories (IPSAS 12)
Revenue Disclosures
Revenue from non-exchange transactions (IPSAS 23)
Revenue from exchange transactions (IPSAS 9)
Liability Disclosures
Provisions (IPSAS 19)
Employee benefits (IPSAS 25)
Presentation and Disclosure of Financing and Financial Instruments
Leases (IPSAS 13)
Effects of changes in foreign exchange rates (IPSAS 4)
Financial instruments presentation (IPSAS 28) and disclosure (IPSAS 30)
Disclosure of Consolidated Entities and Strategic Investments
Separate financial statements (IPSAS 34)
Disclosures relating to interests in other entities (IPSAS 38)
Comparison to the disclosure requirements of the superseded IPSAS 7, 8 and 9
Other Presentation and Disclosure Standards
IPSAS 18 Segment Reporting
Distinguishable activities
IPSAS 20 Related Party Disclosures
Identification of related parties
Disclosure requirements
IPSAS 24 Presentation of Budget Information in Financial Statements
Required disclosures
Comparison of budget and actual amounts
RPG 2 Financial Statement Discussion and Analysis
Scope and application of the Guideline
Approach taken in providing guidance and relationship with mandatory Standards such as IPSAS 24
Content of RPG 2
Overview of operations and environment
Information about objectives and strategies
Course 3401: IPSAS - Presentation, Disclosure and Financial Reports (2 days)
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Analysis of the financial statements
Risks and uncertainties
General Purpose Financial Reports
Conceptual differences between financial statement and financial reports
High level overview of RPG 1 Reporting on the Long-Term Sustainability of an Entity’s Finances
Progress and proposals relating to a new RPG on service performance reporting
Transitioning your financial reports to IPSAS compliant financial reports- a highlight
Teaching method
Live group instruction with interactive participation encouraged
Review of the rationale, objective and scope of IPSAS
Description and explanation of IPSAS requirements in clear and simple language
Use of case studies and disclosure checklists with real-world examples to illustrate practical application of the
standards and guidelines
Interactive participation will be encouraged
All participants receive a comprehensive binder containing copies of the presentation slides, handouts and
other course materials
Prerequisites
Understanding of basic accounting principles based on any national standards in the public sector. No advance
preparation is required for this course.
Course benefits
Apply the IPSAS presentation and disclosure requirements and guidelines to the preparation of fully compliant
IPSAS financial statements and reports
Specify the allowed alternatives in presentation of the key elements and demonstrate sound selection
decisions in given scenarios
Prepare appropriate disclosures, applying the IPSAS requirements
Identify transitional provisions in IPSAS standards
Increase planning opportunities through awareness of likely future IPSAS changes
Course 3401: IPSAS - Presentation, Disclosure and Financial Reports (2 days)
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Learn the sources of IPSAS guidance that are available
Who should attend?
Senior finance managers of organisations considering whether to adopt IPSAS
Project managers responsible for IPSAS transition
Accountants and finance staff of public sector entities and similar agencies in the process of adopting IPSAS
Accountants and finance staff moving from private to public sector environments
Internal auditors of entities that have adopted IPSAS or are in the process of doing so
Accounting practitioners, consultants and external auditors
Accounting academics
CPE / CPD Accreditation
NASBA
IASeminars is registered with the US National Association of State Boards of Accountancy (NASBA) as a sponsor of
continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final
authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be
submitted to the National Registry of CPE Sponsors through its website: www.learningmarket.org.
Field of study: Accounting
ICAEW Partner in Learning
IASeminars is proud to have been named as an ICAEW Partner in Learning, working together to offer the ICAEW IFRS
Certificate to our clients worldwide. ICAEW (The Institute of Chartered Accountants in England and Wales) is a world
leading professional membership organisation that promotes, develops and supports over 140,000 chartered
accountants worldwide. CPE certificates obtained from attending IASeminars courses are an ideal way for ICAEW
members and others to demonstrate their continuing professional development, provided that the topic is relevant
to their learning and development needs.
New York State Board of Public Accountancy
IASeminars is registered with the New York State Board of Public Accountancy as a CPE sponsor. Our CPE Sponsor ID
is: 002546. This registration does not constitute an endorsement by the Board as to the quality of our CPE Program.
Texas State Board of Public Accountancy
Course 3401: IPSAS - Presentation, Disclosure and Financial Reports (2 days)
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IASeminars is registered with the Texas State Board of Public Accountancy as a CPE sponsor. Our CPE Sponsor ID is:
009689. This registration does not constitute an endorsement by the Board as to the quality of our CPE Program.
In House
To bring this course in-house please contact us and we will be pleased to assist
Course 3401: IPSAS - Presentation, Disclosure and Financial Reports (2 days)
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