Module 1 – Introduction to IPSAS

Description

This course provides an introduction to International Public Sector Accounting Standards (“IPSAS”) issued by the International Public Sector Accounting Standards Board (“IPSASB”). The course aims to build foundational knowledge of public sector financial reporting, with emphasis on the conceptual framework, cash-basis reporting, transition to accrual accounting, and measurement principles under IPSAS.

Topics Covered

Introduction to IPSAS

The Conceptual Framework for General Purpose Financial Reporting by Public Sector Entities

Financial Reporting under the Cash-Basis of Accounting

IPSAS 33 – First-time Adoption of Accrual Basis IPSASs

IPSAS 46 – Measurement

Learning Outcomes

By the end of this course, participants should be able to:

Explain the purpose and scope of IPSAS in public sector financial reporting

Understand the IPSAS conceptual framework and its application

Prepare and interpret financial reports under the cash-basis IPSAS

Understand the process and requirements for first-time adoption of accrual-basis IPSASs

Apply IPSAS measurement concepts in recognizing and valuing public sector assets and liabilities