International Accounting Standards: IPSAS, IFRS and implementation

In Procurement and Public Finance by publicadmin

Duration: 2 weeks
Dates: 2020 dates coming soon
Tuition fees: £3,960 (exc. VAT)

About the workshop
New International Accounting Standards are being applied across the world under the auspices of International Public Sector Accounting Standards (IPSAS) geared to the public sector, or International Financial Reporting Standards (IFRS) for private sector and more commercially oriented organisations.
Both are concerned with the introduction of a common accrual-based approach to financial reporting which, among other benefits, should improve governance and engender greater transparency and accountability.
Accruals-based accounting moves away from traditional cash accounting to seek to recognise financial transactions irrespective of when the cash transactions occur. The aim is to provide more accurate information as to the financial performance and the financial position of organisations.
However, International Accounting Standards run much deeper than simply the introduction of accruals accounting. They include the consistent application of commonly agreed accounting techniques in areas such as accounting for assets, employee benefits, depreciation, financial instruments, stocks and stores, writing off losses and incorporating surpluses, foreign transactions and asset valuations.
Compliance with the Standards brings a range of wider benefits in terms of financial management and reporting. This in-depth two-week workshop examines these benefits, together with the importance of compliance in terms of belonging to the international financial community.
Increasingly, it will be important to demonstrate compliance to partners in international cooperation (UN), free trade areas (ECOWAS, SADC, EAC), security organisations (NATO, SEATO), product based organisations (OPEC) and international donors.

Who is it for?
The workshop is designed for politicians or political aides who need a clear grasp of the philosophical basis for International Accounting Standards and the scale of the implementation issues; Board level members responsible for the oversight of financial reporting and good corporate governance; senior managers responsible for implementation of IPSAS or IFRS in a large organisation; project managers responsible for projects on International Accounting Standards; accountants responsible for budgeting, budget monitoring, reporting and final accounts, and bid team members and accountants responsible for making bids and accounting for projects funded by donor organisations.

How participants will benefit
The workshop will enable you:

  • Understand the implications of the Standards in terms of financial information, decision-making and resource allocation
  • Undertake financial and resource management roles more effectively
    Understand the contribution of good corporate governance
  • Improve budgetary control, monitoring and reporting
    Secure continued external investment and external aid more easily.

Please click here to view our 2019 Brochure (opens in a PDF document)