Course Outline

Module 1 – Introduction to Public Sector Entities

• Nature of Public Sector Entities
• Difference between Public and Private Sector Accounting
• Importance of Budgeting in the Public Sector
• Public Financial Management Framework
• Overview of IFAC and IPSASB
• Introduction to IPSAS

Case Study: A national government transitions from cash-based accounting to accrual accounting. What challenges do they face, and how do they resolve them?

Module 2 – Basis of Accounting

• Cash Basis of Accounting
• Accrual Basis of Accounting
• Modified Cash Basis
• Modified Accrual Basis

Case Study: A municipal government faces challenges in implementing accrual accounting. Analyzing their transition plan and the outcomes.

Module 3 – Accounting for Assets

• Property, Plant & Equipment
• Inventory
• Intangible Assets
• Investment Property
• Leases and Borrowing Costs
• Agriculture Accounting
• Impairment of Cash and Non-cash Generating Assets
• Service Concession Arrangements

Case Study: A government agency procures new assets but fails to account for depreciation. How does this affect financial statements?

Module 4 – Accounting for Revenue Recognition

• Revenue from Exchange Transactions
• Revenue from Non-Exchange Transactions

Case Study: A government receives donor funds for infrastructure development. How should this revenue be recognized under IPSAS?

Module 5 – Accounting for Liabilities

• Provisions
• Contingent Liabilities
• Lease Liabilities
• Employee Benefits

Case Study: A public hospital incurs a legal liability. How should it be recorded under IPSAS?

Module 6 – Financial Instruments

• Financial Assets, Financial Liabilities & Equity
• Recognition of Financial Instruments
• Fair Value Measurement
• Impairment of Financial Assets
• Hedging and Hedge Accounting

Case Study: A public university invests in treasury bonds. How should these financial instruments be recorded?

Module 7 – Presentation of Financial Statements

• Presentation of Financial Statements
• Statement of Cash Flows
• Interim Financial Reporting
• Selection of Accounting Policies and Accounting Estimates
• Events After the Reporting Period
• Consolidated Financial Statements
• Budget Information in Financial Statements

Case Study: A local government presents budget information in financial statements. How does this enhance transparency?

Module 8 – Financial Reporting under Cash Basis

• Cash Basis IPSAS
• Presentation and Disclosure Requirements
• General Requirements
• First-time Adoption of Accrual Basis IPSAS from Local Cash Basis Standards
• Foreign Currency Transactions and Balances

Case Study: A developing country shifts from cash basis to IPSAS cash basis accounting. What reporting improvements are seen?

Module 9 – IPSAS Financial Performance

• Non-exchange Revenue (IPSAS 23)
• Exchange Revenue (IPSAS 9)
• Construction Contracts (IPSAS 11)
• Property, Plant, and Equipment (IPSAS 17)
• Intangible Assets (IPSAS 31)
• Investment Property (IPSAS 16)
• Impairment of Assets (IPSAS 21 & 26)
• Borrowing Costs (IPSAS 5)
• Inventories (IPSAS 12)

Case Study: A government entity applies IPSAS standards to measure financial performance. What changes do they observe?

Module 10 – First-Time Adoption of IPSAS

• First-time Adoption of Cash Basis IPSAS
• Transitioning from Cash Basis to Accrual Basis IPSAS
• Adoption Challenges and Best Practices

Case Study: A government institution adopts IPSAS for the first time. What lessons can be learned from their experience?