Decoding the IPSAS Landscape: A Public Sector Financial Exploration
In a significant move towards promoting transparency and consistency in public sector financial reporting, Shasat, a leading educational institution, has announced the launch of its highly anticipated "Public Sector Accounting Immersion Workshop." This intensive three-day course is tailored to equip professionals with a comprehensive understanding of accrual accounting, cash basis accounting, and international public sector accounting standards.
The workshop aims to address the increasing demand for professionals skilled in public sector financial management and reporting. Participants will delve into key principles and requirements of accrual accounting, drawing from the International Financial Reporting Standards (IFRS) issued by the International Accounting Standards Board (IASB), as well as public sector-specific accounting issues.
Shasat's immersive program will focus on honing skills in recognizing, measuring, presenting, and disclosing transactions and events in the general-purpose financial statements of public sector entities. This preparation ensures that participants are well-equipped to manage and report on public finances in a transparent and globally comparable manner.
One noteworthy aspect of the course is its coverage of the International Public Sector Accounting Standards (IPSAS), including IPSAS 41 Financial Instruments and IPSAS 43 Leases. The former, effective from January 1, 2023, introduces a classification and measurement model for financial assets, an expected credit loss model for impairment testing, and a broadened scope for hedge accounting. The latter, set to replace IPSAS 13 Leases from January 1, 2025, introduces a right-of-use model for lessees and carries forward the risks and rewards incidental to the ownership model for lessors.
Shasat's program will also address IPSAS 42 Social Benefits, effective from January 1, 2022, and provide participants with the tools to promote awareness, understanding, and effective implementation of this standard.
The course couldn't come at a more crucial time, as governments and public sector organizations worldwide face a growing call for transparent and consistent financial reporting. The adoption of accrual accounting practices is on the rise, with international organizations leading the way. By participating in Shasat's workshop, professionals will join a community at the forefront of this movement toward better public sector financial management and reporting.
Key learning features of the course include gaining a thorough understanding of public sector accounting standards, practical applications of accrual and cash basis accounting, and comprehensive knowledge of financial reporting, including recognition, measurement, presentation, and disclosure requirements for public sector entities. Participants will also explore real-world case studies, engage in interactive discussions with expert trainers and fellow participants, and gain practical skills in preparing and analyzing financial statements, as well as conducting audits of public sector entities.
Shasat's "Public Sector Accounting Immersion Workshop" offers an opportunity for professionals to stay ahead of the curve in public sector accounting. It promises to provide the necessary tools and knowledge for success in this field and contribute to the broader goal of enhancing transparency and accountability in public sector financial reporting.
Here is the schedule of upcoming programs by Shasat. However, we recommend you continue to visit Shasat's website for the most up-to-date program schedules.
Public Sector Accounting Immersion Workshop | GID 22002 | Brussels: Oct. 17-19, 2023
Public Sector Accounting Immersion Workshop | GID 22003 | Abu Dhabi: Nov. 27-29, 2023
Public Sector Accounting Immersion Workshop | GID 22004 | Washington: Nov. 6-8, 2023
Public Sector Accounting Immersion Workshop | GID 22005 | Accra: Nov. 28-30, 2023
Public Sector Accounting Immersion Workshop | GID 22007 | Singapore: Dec. 19-21, 2023
Public Sector Accounting Immersion Workshop | GID 22009 | Geneva: Oct.r 30 - Nov. 1, 2023
Public Sector Accounting Immersion Workshop | GID 22010 | Montreal: Nov. 22-24, 2023
Public Sector Accounting Immersion Workshop | GID 22000 | Online | Available Upon Request
For more details and to enrol in the IPSAS Training Courses in collaboration with PwC, please visit:
https://shasat.co.uk/product-category/public-sector-accounting-immersion-workshop-3-days-with-pwc/
For professionals seeking to excel in public sector accounting and make a meaningful impact on their organizations, this immersive learning experience is a must-attend event. Shasat looks forward to engaging with participants and fostering their growth in the realm of public sector financial management and reporting.
