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This two-day course provides a detailed guide of the key similarities and differences between International
Financial Reporting Standards (IFRS) and International Public Sector Accounting Standards (IPSAS), and
highlights technical issues faced by public sector organizations that have adopted IPSAS or are in the process of
adopting IPSAS. This event also gives an overview on the Accounting Standards Setting Bodies and cites main
differences among them and the ensuing accounting standards. This program complements Course 3200:
Overview of International Public Sector Accounting Standards IPSAS Accrual basis (3-day course).
The course covers, through the use of case studies and exercises, accounting issues encountered when applying
International Public Sector Accounting Standards (IPSAS) and how they compare to IFRS.
The program includes: Introduction to International Accounting Standards Board (IPSASB) and IPSAS
Accounting Standards Setting Bodies IPSAS and IFRS Equivalents Government Accounting Financial
Statement Presentation and Disclosure Property, Plant and Equipment Financial Instruments Leases
Provisions, Contingent Liabilities and Contingent Assets Revenue Recognition The Effects of Changes in
Foreign Exchange Rates Inventories First-time adoption IFRS/IPSAS Discussion of future developments
Introduction
There is an increasing interest amongst public sector bodies worldwide to produce their financial statements
according to International Public Sector Accounting Standards (IPSAS) issued by the IPSAS Board (IPSASB).
While some governments are developing their own standards based around IFRS, others are adopting IPSAS as
the basis of accounting by their public sector organizations.
This two-day course provides a detailed review of all major technical IPSAS requirements of relevance to public
sector entities, and includes comparison to IFRS, case studies, examples, and interactive participation from the
participants.
o What are the implications of transitioning to IPSAS, including change management issues?
o How are IPSAS financial statement requirements applied to public sector entities, including accounting policies
and disclosures?
o What are the rules relating to first-time adoption of IPSAS as compared to IFRS?
o When are assets, liabilities, revenues, and expenses recognized under IPSAS and how are they measured?
o Where are major similarities and differences found between IFRS and IPSAS?
Prerequisites
Understanding of International Financial Reporting Standards. No advance preparation is required for this course.
Overview
Topics
Course Benefits
Teaching Method
16 hours
Venue
All of our New York City seminars take place in 4 star professional conference facilities, usually in city-centre
downtown hotels like the Marriott, Sheraton or Hilton brands.
Detailed Joining Instructions are sent to all registered delegates by email approximately one month before the
event. The Joining Instructions will confirm exact venue details and nearby (or onsite) hotel recommendations
with bedroom rates where available.
Related courses
Booking Information
Available dates