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Event Details



This one-day course provides an overview of the current and future developments regarding the IPSASs specifically and public sector accounting in general. The exposure drafts and discussion papers are explained in clear, simple language and illustrated with model financial statements and real-world examples. Application of the upcoming standards is illustrated through the use of short case studies, questions and quizzes.

This program answers questions such as:

·         What are the current and likely future requirements of the IPSAS?

  • What are the current exposure drafts and discussion papers?
  • What are the developments in public sector accounting in the United Nations, the United Kingdom, United States of America, South-Africa, New Zealand, Canada and Australia?
  • How will the current IPSASs be affected by the future developments?     Prerequisites

·         Understanding of basic accounting principles based on any national standards in the public sector.

  • Knowledge of the related courses IPSAS Foundation 2 and 3 is highly recommended.
  • No advance preparation is required for this course.     Topics

·         Summary of Recent Pronouncements

·         Service Concession Arrangements: Grantor

·         Recognition and Measurement of a Service Concession Asset

·         Recognition and Measurement of Liabilities

·         Recognition and Measurement of Revenues

·         Recognition and Measurement of Expenses

·         Presentation and Disclosure

·         Transitional Provisions

·         Exposure Draft 45 - Improvement to IPSASs

·         IPSAS 6 – Consolidated and Separate Financial Statements

·         IPSAS 7 – Investments in Associates

·         IPSAS 8 – Interests in Joint Ventures

·         IPSAS 10 – Financial Reporting in Hyperinflationary Economies

·         IPSAS 16 – Investment Property

·         IPSAS 17 – Property, Plant and Equipment

·         IPSAS 19 – Provisions, Contingent Liabilities and Contingent Assets

·         IPSAS 21 – Impairment of Non-Cash Generating Assets

·         Entity Combinations from Exchange Transactions

·         Identifying an Entity Combinations

·         The Acquisition Method

·         Subsequent Measurement  and Accounting

·         Disclosure

·         Transitional Provisions

  • The Conceptual Framework for General Purpose Financial Reporting by Public Sector Entities – Phase 1

·         Role, Authority and Scope.

·         Objectives and Users.

·         Qualitative Characteristics.

·         Reporting Entity and the Group Reporting Entity

  • The Conceptual Framework for General Purpose Financial Reporting by Public Sector Entities – Elements and Recognition in Financial Statements -Phase 2

·         Introduction to Elements and Recognition

·         Assets

·         The Essential Characteristics of an Asset

·         Substance of an Asset

·         Asset of the Reporting Entity

·         Asset at the Reporting Date

·         Unique Public Sector Rights and Powers

·         Liabilities

·         The Essential Characteristics of a Liability

·         Substance of a Liability

·         Liability of the Reporting Entity

·         Liability at the Reporting Date

·         Unique Public Sector Obligations

·         Financial Performance: Revenue and Expenses

·         Approaches to Reporting Financial Performance

·         Essential Characteristics of Revenue and Expenses

·         Exclusion of Transactions with Residual/Equity Interests

·         Results of Specific Activities

·         Other Potential Elements

      • Deferred Outflows and Deferred Inflows
      • Net Assets/Net Liabilities
      • Transactions with Residual/Equity Interests

·         Recognition

  • The Conceptual Framework for General Purpose Financial Reporting by Public Sector Entities – Measurement of Assets and Liabilities in Financial Statements -Phase 3

·         Historical Cost

·         Market Values

·         Replacement Cost

·         The Deprival Value Model

      • Recoverable Amount
      • Replacement Cost
      • Application of the Deprival Value Model to Liabilities: Relief Value
  • Reporting on the Long-Term Sustainability of Public Finances

·         Introduction to long-term fiscal sustainability

·         Relevance of long-term fiscal sustainability information to general purpose information

·         How could national governments report information about long-term fiscal sustainability?

·         The reporting entity an long-term fiscal sustainability

·         Which long-term fiscal sustainability indicators should be reported?

·         Basis of Preparation: Key Principles

·         Specific Methodology Issues

  • Key Characteristics of the Public Sector with Potential Implications for Financial Reporting

·         The volume and financial significance of non-exchange transactions

·         The importance of the budget

·         The nature of property, plant and equipment

·         Responsibility for national and local heritage

·         The longevity of the public sector

·         The regulatory role of the government

·         Ownership or control of rights to natural resources and phenomena

·         Statistical bases of accounting

  • Expected Future Developments

·         Exposure drafts

·         IPSASB projects

·         Consultation papers

·         Projects in Process

  • Recent and Future developments in Public Sector Accounting in benchmark jurisdictions

·         United Nations

·         United Kingdom

·         Australia

·         New-Zealand

·         South-Africa

·         Canada



Kamhall Jhangiani, 00919833740760,


Dubai, United Arab Emirates