IPSAS (Accrual Basis) – Immersion Workshop


The International Public Sector Accounting Standards Board (IPSASB) issues accounting standards and other guidance relating to the financial reporting needs of national, regional and local governments, governmental agencies, and the constituencies they serve. The International Public Sector Accounting Standards (IPSASs) and Recommended Practice Guidelines (RPGs) issued by the IPSASB form a comprehensive set of authoritative international financial reporting standards and guidance for governments and other public sector entities. IPSASs exist to improve the quality of general purpose financial reporting by public sector entities, leading to better informed assessments of resource allocation decisions made by governments and other agencies, thereby increasing transparency and accountability.

Many IPSASs are largely consistent with International Financial Reporting Standards (IFRSs), which are issued by the International Accounting Standards Board (IASB). The IPSASB adapts IFRS to a public sector context when appropriate. In undertaking that process, the IPSASB attempts, wherever possible, to maintain the accounting treatment and original text of the IFRS unless there is a significant public sector issue which warrants a departure. Other standards have been developed to meet issues specific to the public sector, such as non-exchange transactions.

Some countries have adopted IPSAS accruals accounting. Others have adopted the Cash Basis IPSAS as a first step towards accruals accounting. The European Commission (EC), the International Federation of Accountants (IFAC), and the Organization for Economic Co-Operation and Development (OECD) all apply IPSASs. The United Nations (including all their agencies) have nearly completed transition to IPSASs.

This ten-day course provides a comprehensive review of the requirements for preparing financial statements and disclosures under accrual basis IPSASs. The program fully reflects the latest standards including those that become mandatory in 2020 and 2021.

IPSAS requirements will be explained in clear, simple language and illustrated with model financial statements and real-world examples. Application of the various standards is illustrated through the use of short case studies. Delegates also receive an overview of the IPSASB’s current Work Plan, including Exposure Drafts and Consultation Papers.

In addition to a review of current accrual basis IPSAS, our specialist instructors will also give guidance on transitioning to the accrual IPSAS and on the specifics of IPSAS implementation under IPSAS 33 First-time Adoption.

This program answers questions such as:

  • What are the current requirements for presentation of accrual basis IPSAS financial statements and related disclosures?
  • Where can technical and practical guidance on IPSAS be found?
  • How have IPSASs changed recently, and what changes can be expected going forward?
  • What practical issues commonly arise when implementing IPSASs?
  • What are the requirements for transitioning from cash or modified cash basis to the accrual basis of accounting?

Who Should Attend

  • Managers and staff of public sector finance teams embarking on IPSAS transition projects
  • Government officials responsible for IPSAS implementation projects
  • Finance managers and staff who are migrating from the private to public sector
  • Financial consultants supporting IPSAS implementations
  • Internal and external auditors

Learning Objectives

  • Learn how to prepare IPSAS-compliant financial statements
  • Comply with IPSAS disclosure requirements, including accounting policies
  • Understand accrual-based IPSAS requirements, including accounting policies and disclosures
  • Implement IPSAS recognition and measurement rules for assets, liabilities, revenues and expenses
  • Plan ahead for issues that arise when transitioning from the cash basis to the accrual basis of accounting
  • Identify optional and mandatory transitional provisions for first-time adopters of IPSAS
  • Increase planning opportunities through awareness of likely future IPSAS changes
  • Learn the sources of IPSAS guidance that are available
  • All participants receive an iPad Mini to be used for technical research during and after the course
  • City tour and graduation dinner, arranged and paid by IASeminars

Course Methodology

In this interactive training course participants will frequently work in pairs as well as in larger groups to complete exercises as well as regional and international case studies.

Course Details

This course is not presently part of our active schedule and we are monitoring demand. Join our waiting list so our customer service team can include you in the conversation. We can keep you informed and updated when venues/dates are available.

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Course Outline


  • Introduction to IPSASs
    • Brief background and history
    • IPSASB and due process
    • Scope and authority of IPSASs
    • Sources of guidance
    • Identifying which entities might apply IPSASs
  • Fundamental concepts of accrual accounting
    • Conceptual Framework
  • Presentation and Disclosures
    • IPSAS 1 Presentation of Financial Statements
      • Required financial statements
      • Structure
      • Content
    • IPSAS 2 Cash Flow Statements
      • Cash and cash equivalents
      • Operating, investing and financing activities
    • IPSAS 3 Accounting Policies, Changes in Accounting Estimates and Errors
    • IPSAS 14 Events after the Reporting Date
    • Performance and Service Reporting
      • RPG 1 Reporting on the Long-term Sustainability of an Entity’s Finances
      • RPG 2 Financial Statement Discussion and Analysis
      • RPG 3 Reporting Service Performance Information
  • Non-current Assets
    • IPSAS 17 Property, Plant and Equipment
      • Initial recognition
      • Subsequent measurement including optional use of revaluation approach
      • Depreciation
      • Treatment of infrastructure and heritage assets
    • IPSAS 5 Borrowing Costs
      • Choice of policy
      • Qualifying assets
      • Measurement
    • IPSAS 16 Investment Property
    • IPSAS 31 Intangible Assets
      • What intangible assets are held by the public sector?
      • Recognition of acquired and donated intangible assets
      • Research and development phases of internally generated intangible assets
      • Initial and subsequent measurement
    • IPSAS 21 & 26 Impairment of Non-Cash-Generating Assets & Impairment of Cash-Generating Assets
      • Determining which Standard should be applied
      • Impairment identification
      • Valuation approaches
      • Recognition
      • Impairment reversals
      • Disclosure requirements
  • Revenue
    • IPSAS 23 Revenue from Non-Exchange Transactions
      • Recognition and measurement of revenue from taxes and other transfer
      • Reflecting conditions and restrictions in the financial statements
    • IPSAS 9 Revenue from Exchange Transactions
      • Accounting treatment of exchange transactions
      • Project to update IPSAS 23 and 9 – Consultation Paper
    • IPSAS 12 Inventories
      • Public sector entity inventories
      • Inventories held for sale
      • Inventories held for distribution at no or nominal charge
    • IPSAS 11 Construction Contracts
  • Liabilities and Expenses
    • What is a liability in the public sector?
      • Recognition of non-exchange expenses
      • IPSAS 42 Social Benefits
    • IPSAS 19 Provisions, Contingent Liabilities and Contingent Assets
      • Definitions
      • Recognition and measurement
      • Disclosures
    • IPSAS 39 Employee Benefits
      • Short and long-term benefits
      • Recognition, measurement of pension obligations
      • Termination benefits
  • Financing and Financial Instruments
    • IPSAS 13 Leases
      • Identifying finance and operating leases
      • Lessee and lessor financial reporting requirements
      • Exposure Draft 64 – project to amend IPSAS 13
    • IPSAS 32 Service Concession Assets
      • Scope
      • Accounting by the grantor
    • IPSAS 4 The Effect of Changes in Foreign Exchange Rates
      • Identifying functional currency
      • Foreign currency transactions
      • Foreign operations
    • Financial Instruments
      • IPSAS 28 Financial Instruments Presentation
      • IPSAS 29 Financial Instruments: Recognition and Measurement
      • IPSAS 30 Financial Instruments: Disclosures
      • Public sector specific financial instruments
      • Exposure Draft 62 – project to update IPSAS 29
  • Consolidations and Interests in Other Entities
    • IPSAS 34 Separate Financial Statements
    • IPSAS 35 Consolidated Financial Statements
      • Boundaries of consolidation and concepts of public sector control
      • Consolidation requirements
      • Determining whether control exists
    • IPSAS 36 Investments in Associates and Joint Ventures
      • Equity method of accounting
    • IPSAS 37 Joint Arrangements
      • Identifying a joint arrangement
      • Distinguishing between joint ventures and joint operations
      • Accounting for joint operations
    • IPSAS 38 Disclosure of Interests in Other Entities
    • IPSAS 40 Public Sector Combinations
  • Other Presentation and Disclosure Standards
    • IPSAS 18 Segment Reporting
      • Identifying reportable segments
      • Required disclosures
    • IPSAS 20 Related Party Disclosures
      • Identification of related parties and transactions
      • Disclosure requirements
    • IPSAS 24 Presentation of Budget Information in Financial Statements
      • Required disclosures
      • Comparison of budget and actual amounts
      • Material differences
      • Preparing and presenting reconciliation of results under IPSAS to budget basis
    • IPSAS 22 Disclosure of Financial Information about the General Government Sector
      • Purpose of the disclosures
      • Voluntary disclosures
      • IPSASB work on converging IPSASs with statistical basis reporting
  • Transitioning to the Accrual Basis of Accounting
      • Detailed review of IPSAS 33 First-time Adoption of Accrual Basis IPSASs
      • Optional and mandatory transition exemptions and requirements
      • Alternative approaches to transition
      • Identifying and responding to the change management implication
Dubai, UAE
Starting: 03 May 2021 Ending: 14 May 2021
To cover tuition and training materials only.
USD 4975 FEES + VAT as applicable

Please take note that hotel accommodation, travel and out of pocket expenses will be borne by the sponsoring organization.

The cost covers only tuition, stationery, presentation slides, soft and hard copies of course materials, coffee/tea breaks, lunch, tour to tourist attraction sites and administrative expenses.

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Course available for 10 days
Duration: 2 weeks


Working hours

Monday 9:30 am - 6.00 pm
Tuesday 9:30 am - 6.00 pm
Wednesday 9:30 am - 6.00 pm
Thursday 9:30 am - 6.00 pm
Friday 9:30 am - 5.00 pm
Saturday Closed
Sunday Closed