Course 3500

International Public Sector Accounting Standards (IPSAS) - Transition

and Implementation (2 days)
Course Summary

This two-day course provides a comprehensive guide to the transitional provisions and implementation guidance
in International Public Sector Accounting Standards (IPSAS). Using real-world examples, case studies, model
financial statements and checklists, this workshop enables delegates to understand the more complex issues
facing first-time adopters of IPSAS.

The course topics include: Transitional provisions Implementation Guidance Accounting policy selection,
including review of available alternatives.
Course participants will also learn about managing the IPSAS transition process Planning the project Involving
the whole business Staff training Implementing the changes Collecting the data Operating parallel reporting
systems. This valuable program includes discussion of real-world experiences in transitioning to IPSAS and
answers to implementation questions.

Introduction

Entities that elect to adopt International Public Sector Accounting Standards (IPSAS) accrual basis of accounting
face a number of challenges. While the technical challenge of applying all relevant IPSAS should not be
underestimated, just as important are making the right choices over accounting policies to select; whether and
how to use any of the transitional provisions in the IPSAS; managing stakeholders; data gathering; ensuring
systems and processes are adequate and managing the overall transition project.

In general, entities that change accounting policies to comply with IPSAS do this retrospectivey; however, to ease
this transitional process the IPSAS Board (IPSASB) allows the use of transitional provisions in certain Standards.
Where transitional provisions exist, they may allow an entity additional time to meet the full requirements of a
specific accrual based IPSAS or provide relief from certain requirements when initially applying an IPSAS.

Using real-world examples and case studies, this two-day course provides a comprehensive look at the complex
issues facing first-time adopters of accrual based IPSAS, whether transitioning from the Cash Basis IPSAS or
from local accounting frameworks. Coverage includes the transitional provisions in IPSAS and guidance on
setting up the conversion project, with application demonstrated via practical case studies and examples.

This valuable program includes discussion of real-world experiences in transitioning to IPSAS and answers to
implementation questions. Strategies and guidance for establishing IPSAS accounting policies are also
discussed.

The program answers questions such as:

o What are the transition requirements of each IPSAS and what are the implications of the available choices?
o What are the available policy options and their short-term and long-term consequences?
o How can the costs and benefits of various courses of action be determined?
o In what ways will systems require modification in order to implement accrual based IPSAS?
o What are the most common pitfalls that occur during transition to accrual based IPSAS and how can they be

Course 3500: International Public Sector Accounting Standards (IPSAS) - Transition and Implementation (2 days)
Printed from http://www.iaseminars.com/ on 29th May 2011 Page 1
avoided?

Prerequisites

Understanding of accounting principles based on national standards together with some understanding of IPSAS
(refer to Course 3100: IFRS versus IPSAS and Course 3200: International Public Sector Accounting Standards
IPSAS Accrual Basis).

No advance preparation is required for this course.

Course Level

Intermediate

Topics

o Transitional Provisions and Implementation Guidance

o Presentation of Financial Statements - IPSAS 1
o Accounting Policies, Changes in Accounting Estimates and Errors – IPSAS 3
o Property, Plant and Equipment – IPSAS 17
o Investment Property – IPSAS 16
o Intangible Assets – IPSAS 31
o Borrowing Costs – IPSAS 5
o Revenue from Non Exchange Transactions (Taxes and Transfers) – IPSAS 23
o Revenue from Exchange Transactions - IPSAS 9
o Leases – IPSAS 13
o The Effects of Changes in Foreign Exchange Rates - IPSAS 4
o Financial Instruments: Presentation – IPSAS 28
o Other implemention issues - disclosures
o Financial Instruments: Disclosures – IPSAS 30
o Related Party Disclosures - IPSAS 20
o Consolidated and Separate Financial Statements – IPSAS 6
o Segment Reporting - IPSAS 18
o Disclosure of Financial Information About the General Government Sector - IPSAS 22
o Managing the IPSAS Transition Process
o Planning the project
o Involving the whole business
o Staff training
o Implementing the changes
o Collecting the data
o Operating parallel reporting systems

Course Benefits

o Apply the requirements of the IPSAS transitional provisions

o Understand the available policy options and their short-term and long-term consequences

Course 3500: International Public Sector Accounting Standards (IPSAS) - Transition and Implementation (2 days)
Printed from http://www.iaseminars.com/ on 29th May 2011 Page 2
o Discern the costs and benefits of various courses of action
o Implement practical strategies for managing the transition to IPSAS and avoid common pitfalls
o Determine the system modifications and other changes that will be required in order to implement IPSAS
o Gain the understanding required to develop an effective implementation plan for your company

Teaching Method

o Live group instruction

o Description and explanation of IPSAS technical requirements in clear and simple language
o Identification of the critical issues involved in the transition to and implementation of IPSAS
o Extensive use of case studies and examples with practical application of the requirements of the IPSAS
transitional provisions
o Active participation is encouraged
o All participants receive a comprehensive binder containing copies of the presentation slides, handouts and
other course materials

Continuing Professional Education (CPE)

16 hours

Venue

All of our Geneva 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.

Coffee and lunch will be provided.

Related courses

o 1691: International Accounting for Not-for-Profit Entities (3 days)

o 1750: Introduction to IFRS for the Public Sector (3 days)
o 3100: IFRS versus IPSAS (2 days)
o 3200: International Public Sector Accounting Standards (IPSAS) - Accrual Basis (3 days)
o 3250: International Public Sector Accounting Standards (IPSAS) - Cash Basis (2 days)
o 3281: International Public Sector Accounting Standards (IPSAS) - Hot Topics and Technical Update (2 days)

Booking Information

Duration (days): 2.00

Location: Geneva
Price: EUR 1,700
Price: EUR 1,700

Course 3500: International Public Sector Accounting Standards (IPSAS) - Transition and Implementation (2 days)
Printed from http://www.iaseminars.com/ on 29th May 2011 Page 3
Price: EUR 1,700

Available dates

27 Jun - 28 Jun 2011

18 Jun - 19 Jun 2012
19 Nov - 20 Nov 2012

Instructor(s)

Alan Mayo [27 Jun - 28 Jun 2011 ]

Alan Mayo is a highly experienced instructor in the field of international financial reporting. He teaches seminars
around the world on subjects including International Financial Reporting Standards (IFRS) and International
Public Sector Accounting Standards (IPSAS). Alan is a UK chartered accountant with over 20 years of
experience as an auditor and consultant with PricewaterhouseCoopers in both London and Paris. He was
formerly a founding member of the PwC Client Training business in London, which delivered UK and international
GAAP courses to a wide range of multinational clients. Alan also managed a team within PwC that provided
training and change management support to the UK public sector as it transitioned from cash to accruals based
accounting, working with organizations such as the Foreign and Commonwealth Office and the Ministry of
Defence. An independent training consultant since 2001, Alan has been an associate instructor with IASeminars
since 2004. His recent public-sector consultancy work has focused on developing the financial management skills
of UK government agencies, and advising them during transition from UK to IFRS or IPSAS-based accounting
standards. Alan’s clients at IASeminars have included the United Nations, The Auditor General Of Canada, and
various governmental agencies from around the world.

Instructor TBC [18 Jun - 19 Jun 2012 ]

The instructor for this course will be drawn from one of our core faculty of subject matter experts (see examples
on http://www.iaseminars.com/html/faculty.html). Further details will be published at the earliest opportunity.

Instructor TBC [19 Nov - 20 Nov 2012 ]

The instructor for this course will be drawn from one of our core faculty of subject matter experts (see examples
on http://www.iaseminars.com/html/faculty.html). Further details will be published at the earliest opportunity.

For more information, please visit http://www.iaseminars.com/en/event/?Code=3500&VenueID=25

Course 3500: International Public Sector Accounting Standards (IPSAS) - Transition and Implementation (2 days)
Printed from http://www.iaseminars.com/ on 29th May 2011 Page 4