IPSAS Update New IPSAS & Exposure Draft

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 theIPSAS? 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?

1.1.1.1 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.

1.1.1.2 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 42 - Improvement to IPSASs

IPSAS 5 Borrowing Costs IPSAS 7 Investments in Associates IPSAS 8 Interests in Joint Ventures IPSAS 16 Investment Property IPSAS 17 Property, Plant and Equipment IPSAS 25 Employee Benefits IPSAS 26 Impairment of Cash-Generating Assets IPSAS 3 Accounting Policies, Changes in Estimates and Errors IPSAS 14 Events After the Reporting Date IPSAS 16 Investment Property Other Editorial Changes 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 ExpectedFuture 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 United States of America Resources and referencematerial Where to find information about IPSAS Research Papers Public Sector Studies

1.1.1.3 Course Benefits

Understand future and current developments regarding the IPSASs. Increase planning opportunities through awareness of likely future IPSAS changes. Learn the sources of IPSAS guidance that are available. Be informed on new developments in benchmark jurisdictions regarding accruals-basis accounting.

1.1.1.4 Who should attend?

This course is especially interesting for any professional in a Finance Position in the Public Sector who needs up-to-date information about current and future developments. This will typically be professionals dedicated to developing accounting policies and who need to have a proper insight in upcoming developments and the impact on the current standards.
1.1.1.5 Number of days and CPE Credits

This course will last one full day and entitles delegates to 8 CPE credits

Course IPSAS Update IPSAS Update IPSAS Update IPSAS Update IPSAS Update IPSAS Update IPSAS Update IPSAS Update

Days 1 1 1 1 1 1 1 1

City Johannesburg Mumbai Miami Singapore Paris Accra Cairo Colombo

Country South Africa India USA Singapore France Ghana Egypt Sri Lanka

Start 10-6-2011 24-6-2011 7-10-2011 21-10-2011 4-11-2011 18-11-2011 25-11-2011 9-12-2011

Finish 10-6-2011 24-6-2011 7-10-2011 21-10-2011 4-11-2011 18-11-2011 25-11-2011 9-12-2011

Fee $ $ $ $ $ $ $ $ 750 750 750 750 750 750 750 750