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IPSAS Milestone 1 Cash Basis

This three-day course provides an overview of the revised Cash-Basis IPSAS issued in January 2008, including the disclosure requirements on external aid. The cash-basis IPSAS accounting and disclosure requirements are explained in clear, simple language and illustrated with model financial statements and real-world examples. Application of the standard is illustrated through the use of short case studies, questions and quizzes. This program answers questions such as:

What are the current and likely future requirements of the cash-basis IPSAS? What are recommendations for transitioning from the cash to the accrual basis of accounting? Which countries or entities apply the cash-basis IPSAS? Where can guidance on the cash-basis IPSAS are found? What are Government Business Enterprises and how are accounting requirements applied to such entities? What practical issues commonly arise when implementing the cash-basis IPSAS? How to prepare a consolidated cash-basis IPSAS compliant financial statement?

1.1.1.1 Prerequisites

Understanding of basic accounting principles based on any national standards in the public sector. Knowledge of the related course IPSAS Foundation is highly recommended. No advance preparation is required for this course.

1.1.1.2 Topics

Cash-Basis Standard Financial Reporting Under the Cash Basis of Accounting Requirements The Cash Basis Presentation and Disclosure Requirements General Considerations Correction of Errors Consolidated Financial Statements Foreign Currency Presentation of Budget Information in Financial Statements Recipients of External Assistance

Encouraged Additional Disclosures Definitions Going Concern Extraordinary Items Administered Transactions Disclosure of Major Classes of Cash Flows Related Party Disclosures Disclosures of Assets, Liabilities and Comparison with Budgets Consolidated Financial Statements Joint Ventures Financial Reporting in Hyperinflationary Economies Assistance received from Non-Governmental Organizations (NGOs) Recipients of External Assistance Considerations for Governments and Other Public Sector Entities Intending to Migrate to the Accrual Basis of Accounting Presentations of the Statement of Cash Receipts and Payments Scope of Consolidated Financial Statements Exclusion from the Economic Entity Resources and reference material Where to find information about IPSASs

1.1.1.3 Course Benefits


Understand the Cash-Basis IPSAS requirements, including accounting policies and disclosures Plan ahead for issues that arise when transitioning from the cash (or modified cash) basis to the accrual basis of accounting Increase planning opportunities through awareness of likely future IPSAS changes Learn the sources of IPSAS guidance that are available

1.1.1.4 Who should attend?

This course is especially interesting for:


Any professional in a Finance Position in the Public Sector. Auditors and Accountants serving the Public Sector. Consultants serving the Public Sector. Chief Accountants. Public Sector Finance Directors. Heads of Finance in the Public Sector Finance Managers in the Public Sector. Financial Controllers in the Public Sector.

1.1.1.5 Number of days and CPE Credits

This three days course is eligible for 24 CPE Credits.

Course IPSAS Milestone 1 IPSAS Milestone 1 IPSAS Milestone 1 IPSAS Milestone 1 IPSAS Milestone 1 IPSAS Milestone 1

Days 3 3 3 3 3 3

City Port of Spain Kuala Lumpur London Beirut Nairobi Karachi

Country Trinidad Malaysia United Kingdom Lebanon Kenya Pakistan

Start 6-7-2011 19-7-2011 3-8-2011 17-8-2011 5-9-2011 13-9-2011

Finish 8-7-2011 21-7-2011 5-8-2011 19-8-2011 7-9-2011 15-9-2011

Fee $2.250 $2.250 $2.250 $2.250 $2.250 $2.250