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Implementing IPSAS - Nigeria


Course Overview

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About the Programme

International Public Sector Accounting Standards (IPSAS) are accounting standards for use by public sector entities around the world in the preparation of financial statements. Published by the International Public Sector Accounting Standards Board (IPSASB), an independent organ of the International Federation of Accountants (IFAC), these standards focus on the accounting & financial reporting needs of national, regional & local governments, related governmental agencies, and the constituencies that they serve. Examples of IPSAS users include the European Union, the Organization of Economic Cooperation & Development (OECD), many national governments and the United Nations.

This five-day course provides a comprehensive overview of the most important requirements for understanding & applying International Public Sector Accounting Standards (IPSAS) under the accruals basis.

Course Objectives

At the end of the session, participants will be able to;

  • Understand financial reporting context for public sector entities

  • Understand the requirements of Accruals basis IPSASs and their application in the public sector

  • Apply IPSAS principles and concepts in the preparation of public sector financial statements to determine the appropriate treatment of events and transactions in financial statements

  • Increase planning opportunities through awareness of likely future IPSAS changes

  • Learn the sources of IPSAS guidance that are available

  • Apply IPSAS standards to ensure improved accountability via providing a complete and accurate view of an entities operations and performance

  • Improve overall management and planning via the application of more precise estimates of income and expenditure and effective usage of assets and liabilities

  • Achieve greater transparency within your entity regarding your use of primary resources and resulting liabilities

  • Provide a strong system of support for results-based management through achieving the development and utilisation of more comprehensive information about costs and cost budgets

  • Achieve greater harmony within the entity’s reporting and financial statements as a way to encourage and enhance organisational goal congruence


Lectures, discussions supported by case studies

Who Should Attend

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This course is ideal for individuals at all levels who need to have detailed knowledge of IPSAs. In essence, it is an opportunity to transfer a crucial new skill set to those responsible for making accounting decisions & preparing, reviewing or approving financial statements.

The course will benefit is:

• Accounting and finance staff at all levels who are involved in the preparation of financial statements.  

• Managers who have a responsibility for or a need to understand the financial statements.

• IPSAS implementation and maintenance teams.

Course Outline

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Introduction to IPSAs

  • Background

  • Structure of IPSAs

  • Compare and Contrast IFRS with IPSAs

  • Benefits of Implementing IPSAs

  • Conceptual framework for general purpose financial reporting by public sector entities

  • Summary of recent pronouncements and Exposure drafts

  • Expected future developments

Implementing IPSAs

  • Challenges of Implementing IPSAS

  • Transition Steps for IPSAs Implementation

  • Conducting IPSAs gap analysis

  • Discussions  and comments

  • How do you meet these challenges and changes with confidence?

IPSAS – The Standards Considered (Technical Review and Application)

  • Presentation of Financial Statements (IPSAS 1 )

  • Cash Flow Statements (IPSAS 2)

  • Accounting Policies, Changes in Accounting Estimates and Errors (IPSAS 3)

  • The Effect of Changes in Foreign Exchange Rates (IPSAS 4)

  • Consolidated and Separate Financial Statements (IPSAS 6)

The Fundamental Building Blocks of IPSAs

  • Property, Plant and Equipment (IPSAS 17)

  • Borrowing Costs (IPSAS 5)

  • Leases (IPSAS 13)

  • Investment Property (IPSAS 16)

  • Inventories (IPSAS 12)

  • Impairment of Non-Cash- Generating Assets (IPSAS 21)

  • Financial Instruments: Disclosure and Presentation (IPSAS 15)

  • Provisions, Contingent Liabilities and Contingent Assets (IPSAS 19)

IPSAS - An in-depth Look at Key Standards

  • Financial Reporting in Hyperinflationary Economies (if Required) (IPSAS 10)

  • Events after the Reporting Date (IPSAS 14)

  • Segment Reporting (IPSAS 18)

  • Related Party Disclosures (IPSAS 20)

  • Disclosure of Financial Information about the General Government Sector (IPSAS 22)

  • Presentation of Budget Information in Financial Statements (IPSAS 24)

  • Investments in Associates (IPSAS 7)

  • Interests in Joint Ventures (IPSAS 8)

  • Employee Benefits (IPSAS 25)

  • Impairment of Cash-Generating Assets (IPSAS 26)

IPSAS – Essential Technical Components and the way ahead

  • Revenue from Exchange Transactions (IPSAS 9)

  • Revenue from Non-Exchange Transactions (Taxes and Transfers) (IPSAS 23)

  • Construction Contracts (IPSAS 11)

  • IPSAS – The Way Ahead

Location, Pricing & Dates

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This programme is a scheduled course but available as an in-house programme at the clients preferred location (Minimum Class size 10) Contact our client liaison team to discuss running this programme in house.