Course 3250

International Public Sector Accounting Standards (IPSAS) - Cash

Basis (2 days)
Course Summary

The International Public Sector Accounting Standards Board (IPSASB) focuses on the accounting and financial
reporting needs of national, regional and local governments, related governmental agencies, and the
constituencies they serve. Furthermore, International Public Organizations increasingly use the IPSAS as a
reference for their Financial Statements. Organizations such the European Communities, the Organization of
Economic Cooperation and Development OECD, and United Nations agencies such as the World Food Program
(WFP) issue Financial Statements based upon the IPSAS.

This two-day course provides a comprehensive overview of the most important requirements for understanding
and applying the Cash Basis IPSAS. The program includes two parts:

PART 1 - Requirements

Introduction to IPSAS The Cash Basis Presentation and Disclosure General Considerations Correction of
Errors Consolidated Financial Statements Foreign Currency Presentation of Budget Information in Financial
Statements Recipients of External Assistance Illustration of the requirements in Part 1

PART 2 - Encouraged additional disclosures

Types of additional disclosures Governments and Other Public Sector Entities intending to migrate to the accrual
basis of accounting Expected future developments

Introduction

The International Public Sector Accounting Standards Board (IPSASB) issues accounting standards and other
guidance relating to the financial reporting needs of national, regional and local governments, governmental
agencies, and the constituencies they serve. The International Public Sector Accounting Standards (IPSAS) that
have been issued by the IPSASB represent the first and only comprehensive set of authoritative international
financial reporting standards for governments and public sector entities.

The IPSASB’s goal is to serve the public interest by developing high quality accounting standards for use by
public sector entities around the world in the preparation of general purpose financial statements. This will
enhance the quality and transparency of public sector financial reporting and strengthen public confidence in
public sector financial management. In pursuit of this objective, the IPSASB supports the convergence of
international and national public sector accounting standards and the convergence of accounting and statistical
bases of financial reporting where appropriate.

A number of countries have transformed their accounting systems to accrual accounting based on IPSAS.
Several other countries have adopted the Cash Basis IPSAS as a first step to future full accrual accounting based
on the IPSAS. The European Commission (EC), the International Federation of Accountants (IFAC), and the
Organization for Economic Co-Operation and Development (OECD) are now using IPSAS. The United Nations
(including all their agencies) are currently making the transition to IPSAS.

Course 3250: International Public Sector Accounting Standards (IPSAS) - Cash Basis (2 days)
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This two-day course provides a comprehensive overview of the most important requirements for preparing
financial statements and disclosures under the Cash Basis IPSAS. The program also includes a general overview
of the accrual based IPSAS.

The IPSAS accounting and disclosure requirements are explained in clear, simple language and illustrated with
model financial statements and real-world examples. Application of the various standards is illustrated through
the use of short case studies.

In addition of a review of current cash basis IPSAS, our expert instructors provide guidance on transitioning to the
accrual basis. Course delegates also receive up-to-date information on IPSASB’s current exposure drafts and
projects.

This program answers questions such as:

o What are the current and likely future requirements of the Cash Basis IPSAS?
o What are the requirements for presentation of Cash Basis IPSAS financial statements and related disclosures?
o What are the recommendations for transitioning from the cash to the accrual basis of accounting?
o Where can guidance on IPSAS be found?
o What practical issues commonly arise when implementing Cash Based IPSAS?
o Possible future changes to the Cash Basis IPSAS

Prerequisites

Understanding of basic accounting principles based on any national standards in the public sector.
No advance preparation is required for this course.

Course Level

Overview

Topics

PART 1 - Requirements
o
o Introduction to IPSAS
o Brief history
o Scope of IPSAS
o Sources of guidance
o The Cash Basis
o Cash Basis of Accounting
o Cash Equivalents
o Cash controlled by the reporting entity
o Presentation and Disclosure Requirements
o Financial statements
o Information to be presented in the statement of cash receipts and payments
o Accounting policies and explanatory notes
o General Considerations

Course 3250: International Public Sector Accounting Standards (IPSAS) - Cash Basis (2 days)
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 o Reporting period
o Timeliness
o Restrictions to cash balances and access to borrowings
o Consistency of presentation, comparative information
o Correction of Errors
o Reporting
o Disclosure
o Consolidated Financial Statements
o Scope of consolidated statements
o Consolidation procedures
o Consolidation disclosures
o Foreign Currency
o Presentation of Budget Information in Financial Statements
o Presentation of a comparison of budget and actual amounts
o Note disclosures of budgetary basis, period and scope
o Reconciliation of actual amounts on a comparable basis and actual amounts in the financial statements
o Recipients of External Assistance
o External assistance received
o Undrawn external assistance
o Receipt of goods or services
o Disclosure of debt rescheduled or transferred
o Disclosure on non compliance with signicant terms and conditions
o Illustration of the requirements in Part 1
PART 2 - Encouraged additional disclosures
o
o Additional disclosures on:
o Going concern
o Extraordinary items
o Administered transactions
o Major classes of cash flows
o Related parties
o Assets and liabilities
o Comparison with budgets
o Consolidated financial statements
o Joint ventures
o Assistance received from NGOs
o Recipients of external assistance
o Governments and Other Public Sector Entities Intending to Migrate to the Accrual Basis of Accounting
o Presentation of statement of cash receipts and payments
o Illustration of certain disclosures
o Qualitative characteristics of financial reporting
o Expected future developments

Course Benefits

o Understand Cash basis IPSAS requirements, including accounting policies and disclosures
o Understand the manner in which general purpose financial statements should be presented under the Cash
Basis IPSAS of accounting

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o Plan ahead for issues that arise when transitioning from the cash (or modified cash) basis to the accrual basis
of accounting
o Learn the sources of IPSAS guidance that are available

Teaching Method

o Live group instruction with interactive participation encouraged

o Review of the rationale, objective and scope of IPSAS
o Description and explanation of IPSAS requirements in clear and simple language
o Use of case studies and real-world examples to illustrate practical application of the standards
o Interactive participation will be 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 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.

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 3281: International Public Sector Accounting Standards (IPSAS) - Hot Topics and Technical Update (2 days)
o 3500: International Public Sector Accounting Standards (IPSAS) - Transition and Implementation (2 days)

Booking Information

Duration (days): 2.00

Location: New York City
Price: USD 2,300

Course 3250: International Public Sector Accounting Standards (IPSAS) - Cash Basis (2 days)
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Available dates

20 Sep - 21 Sep 2011

Instructor(s)

Alan Mayo [20 Sep - 21 Sep 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.

Pateel Papazian [20 Sep - 21 Sep 2011 ]

Pateel H. Papazian has professional experience in both the USA and Lebanon. A Certified Public Accountant in
the state of California, she also holds an MBA degree from the American University of Beirut. Pateel worked in
public accounting for over nineteen years (including nine years in the USA), and she is familiar with IFRS, IPSAS
and US GAAP. For nine years, Pateel was a Director at KPMG in Lebanon, where her audit clients included
not-for-profit organizations and commercial companies reporting under US GAAP and IFRS. In 2008, Pateel
moved to the NGO sector as the Chief Financial Officer (CFO) of one of the leading microfinance institutions in
Lebanon. Recently, she joined the American University of Beirut as a Director of Reporting and Compliance in the
Comptroller’s office. Pateel has been involved in teaching and training IPSAS, IFRS and US GAAP courses
throughout her career. She was in charge of ‘Train the Trainers’ programs at KPMG Beirut, and is currently a
part-time instructor at the American University of Beirut, where she has been teaching accounting and auditing
courses since 1999. Pateel joined IASeminars on a part time basis in 2009, where she is involved in developing
and delivering the company’s IPSAS and not-for-profit curriculum.

For more information, please visit http://www.iaseminars.com/en/event/?Code=3250&VenueID=10

Course 3250: International Public Sector Accounting Standards (IPSAS) - Cash Basis (2 days)
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