International Public Sector Accounting Standards (IPSAS)

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The recent financial crisis and associated financial safeguards implemented across all business sectors have seen even greater pressures exerted on public budgets with governments and public sector entities encountering growing pressure to provide high-quality transparent financial statements, clear and decisive financial management approaches and enhanced operational allocation and performance measures related to public funds.

IPSAS (International Public Sector Accounting Standards) provides a sounds basis for public entities to demonstrate sound accrual accounting and budgeting techniques, and with its emphasis on performance-based management being a core competency, requires entities to adopt a fresh and innovative approach to developing new skill sets.

This course offers the learner a comprehensive understanding of the essential elements of IPSAS; beginning by building on the foundations laid by the IASB’s mainstream IFRS standards and then looking at these concepts within the framework of the public entity. The course develops key skills competencies through the application of sound theoretical content within a practical, real-life inspired case-study based environment.


Attend this comprehensive 5–day training course and learn how to:

  • 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’s 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

    Plus: Pragmatic case studies and exercises on all major topics for participants to gain a working knowledge of how to apply and implement IPSAS and the challenges other entities face in adopting IPSAS and how those challenges are overcome.


Who should attend

This course has been specifically designed for the benefit of:

  • Organisations, including governments and public sector entities, that are currently implementing or considering implementing IPSAS as a basis for accounting
  • Organisations wishing to gain an overview of IPSAS and understand what implications adopting these standards may have on their organisation
  • Financial professionals operating within the finance departments of public entities
  • Increasing your staff’s awareness about IPSAS through considering the benefits and challenges associated


Venue to be confirmed

All our courses are held in 4 or 5 star city centre hotels. Further details will be sent on registration.

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Do you have five or more people interested in attending this course? Do you want to tailor it to meet your company's exact requirements? If you'd like to do either of these, we can bring this course to your company's office. You could even save up to 50% on the cost of sending delegates to a public course.

To find out more about running this course in-house:

Our Tailored Learning Offering

If you want to run this course at a location convenient to you or if you want a completely customised learning solution, we can help.

We produce learning solutions that are completely unique to your business. We'll guide you through the whole process, from the initial consultancy to evaluating the success of the full learning experience. Our learning specialists ensure you get the maximum return on your training investment.


We can offer any of our public courses delivered at your office or we can devise completely tailored solutions:

Read more about our offering or complete a call back request to speak to a learning specialist.



Day 1

Welcome and Introduction to Course Objectives

IPSAS – Overview and Context

  • Summary of recent pronouncements
  • Exposure draft 42 improvement to IPSASs
  • Exposure draft intangible assets
  • Exposure draft entity combinations from exchange transactions
  • Exposure draft financial instruments: disclosure
  • Exposure draft financial instruments: presentation
  • Exposure draft financial instruments: recognition and measurement
  • Exposure draft agriculture
  • Conceptual framework for general purpose financial reporting by public sector entities
  • Exposure draft IPSAS 5 (revised) borrowing costs
  • Accounting and financial reporting for service concession arrangements
  • Social Benefits: disclosure of cash transfers to individuals and households
  • Amendments to IPSAS 4 the effects of changes in foreign exchange rates
  • Expected future developments
  • IPSASB projects
  • Consultation papers
  • Projects in process
  • Resources and reference material on IPSAS
  • Research papers
  • Public sector studies

Case study: A specific case study looking at the most recent developments and changes to IPSAS as well as a discussion of current problem areas and potential upcoming changes

Day 2

IPSAS – The Standards Considered (Technical Review and Application)

Presentation of Financial Statements (IPSS 1 / IAS 1)

  • Required financial statements
  • Structure
  • Content

Cash Flow Statements (IPSAS 2/ IAS7)

  • Cash and cash equivalents
  • Operating, investing and financing activities

Accounting Policies, Changes in Accounting Estimates and Errors (IPSAS 3 / IAS 8)

  • Changes in accounting estimates
  • Changes in accounting policies
  • Correction of fundamental errors
  • Extraordinary items
  • Items requiring separate financial statement disclosure

The Effect of Changes in Foreign Exchange Rates (IPSAS 4 / IAS 21)

  • Foreign currency transactions
  • Foreign operations

Consolidated and Separate Financial Statements (IPSAS 6)

  • Concepts of public sector control

  • Consolidation requirements
  • Determining whether control exists

Case study: Practical case studies outlining the IPSAS specific implications of these selected standards 

Day 3

IPSAS - An in-depth look at key standards

Financial Reporting in Hyperinflationary Economies (if Required) (IPSAS 10/IAS 29)

  • Criteria to be classified as hyperinflation
  • Process of restatement

Events after the Reporting Date (IPSAS 14/IAS 10)

  • Adjusting events
  • Non-adjusting events

Segment Reporting (IPSAS 18/IFRS 8)

  • Distinguishable activities

Related Party Disclosures (IPSAS 20/IAS 24)

  • Identification of related parties
  • Disclosure requirements

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

  • Disclosure requirements

Presentation of Budget Information in Financial Statements (IPSAS 24)

  • Required disclosures
  • Comparison of budget and actual amounts
  • Material differences; Assets and liabilities

Investments in Associates (IPSAS 7 /IAS 28)

  • Equity method of accounting
  • Cost method requirements

Interests in Joint Ventures (IPSAS 8/ IAS 31)

  •  Proportionate consolidation

  • Allowed alternative equity method
  • Course benefits
  • Understand IPSAS requirements, including accounting policies and disclosures
  • Implement the IPSAS recognition, measurement and disclosure rules for assets, liabilities, revenues and expenses
  • Apply recent and revised standards

Case study: Practical case studies outlining the IPSAS specific implications of these selected standards

Day 4

IPSAS – The Fundamental Building Blocks

Property, Plant and Equipment (IPSAS 17/IAS 16)

  • Initial recognition
  • Subsequent valuation
  • Depreciation
  • Treatment of heritage assets

Borrowing Costs (IPSAS 5/IAS 23)

  • Expensing
  • Capitalisation

Leases (IPSAS 13/ IAS 17)

  • Lessee and lessor financial reporting requirements
  • Sale and leaseback transactions

IPSAS 16, Investment Property (IPSAS 16/ IAS 40)

  • Initial recognition
  • Subsequent valuation
  • Transitional provisions for initial adoption

Inventories (IPSAS 12/IAS 2)

  • Public sector entity inventories
  • Inventories held for sale
  • Inventories held for distribution at no or nominal charge

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

  • Impairment identification
  • Recognition and measurement
  • Impairment reversals
  • Disclosure requirements

Financial Instruments: Disclosure and Presentation (IPSAS 15/IFRS 9)

  • On-balance sheet instruments
  • Off-balance sheet instruments
  • Financial assets, liabilities or equity classification

Provisions, Contingent Liabilities and Contingent Assets (IPSAS 19/IAS 37)

  • Definitions
  • Recognition and measurement
  • Disclosure

Case study: Practical case studies outlining the IPSAS specific implications of these selected standards.

Day 5

IPSAS – Essential technical components and the way ahead!

Employee Benefits (IPSAS 25/ IAS 19)

  • Definitions
  • Short-term employee benefits
  • Postemployment benefits
  • Distinction between defined contribution plans and defined benefit plans
  • Recognition and measurement of plan assets
  • Termination benefits
  • Presentation and disclosure

Impairment of Cash-Generating Assets (IPSAS 26)

  • Definitions
  • Identifying an asset that may be Impaired
  • Measuring  recoverable amount
  • Recognizing and measuring an impairment loss of an individual asset
  • Cash-generating units
  • Reversing an impairment loss
  • Redesignation of assets
  • Disclosure
  • Income statement issues

Revenue from Exchange Transactions (IPSAS 9)

  • Accounting treatment for exchange transactions

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

  • Recognition and measurement of tax revenue
  • Recognition of revenue from transfers
  • Reflecting conditions and restrictions in the financial statements

Construction Contracts (IPSAS 11/ IAS 11)

  • Commercial and non-commercial contracts
  • Allocation of contract costs
  • Contract revenue recognition
  • Associates and joint ventures

IPSAS – The Way Ahead

  • Understanding of the differences between IAS/ IFRS and IPSAS
  • Planning opportunities through awareness of likely future IPSAS changes
  • Sources of IPSAS guidance that are available

Case study: Practical case studies outlining the IPSAS specific implications of these selected standards

Course summary and close

Why us

We have a combined experience of over 60 years providing learning solutions to the world’s major organisations and are privileged to have contributed to their success. We view our clients as partners and focus on understanding the needs of each organisation we work with to tailor learning solutions to specific requirements.

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  • Quality – our clients consistently rate our performance ‘excellent’ or ‘outstanding’. Our average overall score awarded to us by our clients is nine out of ten.
  • Track record – we have delivered training solutions for 95% of worlds’ top 100 banks and have trained over 250,000 professionals.
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