IPSAS Milestone 3 Accrual Advanced

This two-day course provides an overview of the more advanced accruals-basis IPSASs. The covered accruals-basis IPSASs accounting and disclosure requirements are explained in clear, simple language and illustrated with model financial statements and real-world examples. Application of the 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 specific accrualsbasis IPSAS? How to account for an investment in an associate in the public sector? What is a qualifying asset in the public sector in order to capitalize borrowing costs? How to define a segment in the public sector? Where can guidance on the specific accruals-basis IPSAS be found? What practical issues commonly arise when implementing the specific accrualsbasis IPSAS?

1.1.1.1 Prerequisites

Understanding of basic accounting principles based on any national standards in the public sector. Knowledge of the related course IPSAS Milestone2 is highly recommended. No advance preparation is required for this course.

1.1.1.2 Topics

Reporting and Disclosure IPSAS 10 Financial Reporting in Hyperinflationary Economies Characteristics of a hyperinflationaryeconomy Restating financial statements IPSAS 18 Segment Reporting Distinguishableactivities IPSAS 20 Related Party Disclosures Identification of relatedparties Disclosurerequirements

IPSAS 22 Disclosure of Financial Information about the General Government Sector Disclosurerequirements IPSAS 24 Presentation of Budget Information in Financial Statements Requireddisclosures Comparison of budget and actual amounts Materialdifferences IPSAS 27 Agriculture Agriculture-related Definitions Recognition and Measurement Disclosurerequirements TransitionalProvisions Assets and Liabilities IPSAS 5 BorrowingCosts Expensing Capitalisation IPSAS 13 Leases Lessee and lessors financial reporting requirements Sale and leaseback transactions IPSAS 16 Investment Property Initialrecognition Subsequentvaluation Transitionalprovisionsforinitial adoption IPSAS 12 Inventories Public sector entityinventories Inventories held for sale Inventories held for distribution at no or nominal charge IPSAS 15 Financial Instruments: Disclosure and Presentation On-balance sheet instruments Off-balance sheet instruments Financial assets, liabilities or equity classification IPSAS 31 Intangible Assets Intangible Heritage Assets Recognition and Measurement Recognition of anExpense SubsequentMeasurement Useful Life Retirements and Disposals Disclosure

TransitionalProvisions Income Statement Issues IPSAS 9 Revenue from Exchange Transactions Accounting treatment for exchange transactions IPSAS 11 Construction Contracts Commercial and non-commercial contracts Allocation of contract costs Contract revenuerecognition Associates and Joint Ventures IPSAS 7 Investments in Associates Equitymethod of accounting. Costmethodrequirements IPSAS 8 Interests in Joint Ventures Proportionateconsolidation. Allowedalternativeequitymethod. ExpectedFuture Developments Exposure drafts IPSASB projects . Consultation papers. Projects in Process. Resources and referencematerial Where to find information about IPSAS. Research Papers. Public Sector Studies

1.1.1.3 Course Benefits

Understand the more advances accruals-basis IPSASs requirements, including accounting policies and disclosures. Be able to assess the specific differences with IFRS/IAS and key issues regarding the more complex accruals-basis IPSASs. Plan ahead for issues that arise when implementing the more complex accrualsbasis IPSASs. Learn the sources of IPSAS guidance that are available.

1.1.1.4 Who should attend?

This course is especially interesting for:

Any professional in a Finance Position in the Public Sector. Auditors and Accountants serving the Public Sector. Consultants serving the Public Sector. Chief Accountants. Public Sector Finance Directors. Heads of Finance in the Public Sector Finance Managers in the Public Sector. Financial Controllers in the Public Sector.

1.1.1.5 Number of days and CPE Credits

This two days course is eligible for 16 CPE Credits.

Course IPSAS Milestone 3 IPSAS Milestone 3 IPSAS Milestone 3 IPSAS Milestone 3 IPSAS Milestone 3 IPSAS Milestone 3 IPSAS Milestone 3

Days 2 2 2 2 2 2 2

City Mumbai Singapore Miami Cairo Paris Accra Colombo

Country India Singapore USA Eqypt France Ghana Sri Lanka

Start 20-6-2011 13-10-2011 3-10-2011 20-11-2011 31-10-2011 10-11-2011 1-12-2011

Finish 21-6-2011 14-10-2011 4-10-2011 21-11-2011 1-11-2011 11-11-2011 2-12-2011

Fee $1.500 $1.500 $1.500 $1.500 $1.500 $1.500 $1.500