Description
Since 1997, the International Public Sector Accounting Standards Board (IPSASB) has developed and issued 38 accrual standards, and a cash basis standard for countries moving toward full accrual accounting. Governments that report on a cash-basis do not account for significant liabilities, such as pensions and infrastructure development; as a result, the IPSASB encourages public sector entities to adopt the accrual basis of accounting—which will improve financial management and increase transparency resulting in a more comprehensive and accurate view of a government’s financial position. Through our analysis of the standards, we will explore how to migrate an entity toward IPSAS compliance. The financial and sovereign debt crises emphasized the need for better financial reporting by governments worldwide, and the need for improvements in the management of public sector resources. In this course we will tackle the objectives and introduce the key steps that allow an entity to move toward meaningful reform, including the adoption and implementation of accrual accounting and International Public Sector Accounting Standards (IPSAS). Many governments, jurisdictions, and international institutions have already adopted IPSASs-many more are on the road to implementing the standards. This course will provide the knowledge and offer the skills needed to make the journey to IPSAS compliance.
