An Intensive 10-day Training Course
Best Practice Financial Management and Reporting for the Public Sector (IFRS and IPSAS)
Aligning Public Sector Reporting with Global Standards: IFRS and IPSAS
CLASSROOM DATES
INTRODUCTION
This EuroMaTech Ten day Financial Management and Reporting for the Public Sector (IFRS and IPSAS) training course will cover the following:
The diminishing differences between generally accepted accounting principles (GAAP), principally established by the Financial Accounting Standards Board (FASB), and International Financial Reporting Standards (IFRS), as established by the International Accounting Standards Board (IASB), is narrowing at a faster pace. IFRS are now the world’s most widely accepted and applied accounting standards with more than 100 countries now requiring or permitting their use.
IPSAS is becoming and will become the World standard for Public Sector entities. IFRS having replaced IAS is now becoming the world standard, but in many ways was not specific enough to the needs of the Public Sector. The United Nations and World Bank coming to this realisation have favoured IPSAS which is a modified form of IFRS tailored to the Public Sector.
This EuroMaTech training course will help our clients not only in meeting the challenges of introducing IFRS and IPSAS, but also to secure the benefits of improved financial management to help secure organisational objectives and goals of each public service organisation. It will also compare IFRS against IPSAS so that the participants can see the main differences.
The key topics covered are:
- Context of IFRS and IPSAS
- The basic concepts of accounting and financial reporting disclosures and varying reconciling and non-reconciling differences between GAAP and IFRS & IPSAS
- Financial statement presentation of IFRS and IPSAS
- Funding, revenue and expenditure of IFRS andIPSAS
- Asset and liability reporting of IFRS and IPSAS
- Entity consolidation and combination IFRS and IPSAS
- The scope, structure, contents and components of IFRS and IPSAS compliant financial statements, including underlying assumptions and related footnotes disclosures
- Measurement and recognition of the various elements of international accounting principles and standards, including transition concerns
- Disclosure and other matters
This 10-day Best Practice Financial Management & Reporting for the Public Sector (IFRS & IPSAS) training course consists of the following two individually bookable modules of 5 days each:
- Week 1 (Days 01 – 05): International Financial Reporting Standards (IFRS)
- Week 2 (Days 06 – 10): International Public Sector Accounting Standards (IPSAS)
We highly recommend the delegates to attend both 5-day modules on consecutive weeks (ie: register on 10-day programme) to take full advantage of the topics covered.
TRAINING OBJECTIVES
As a result of completing this EuroMaTech 10-day training course, participants will improve their knowledge, understanding and analytical skills by learning:
- Background to IFRS and IPSAS
- The Technical Bases
- Links and implications to and for broader strategies: Financial Management, Taxation, Asset Management, Governance and accountability
- The Standards
- Financial Reporting
- How to satisfy donor and stakeholder requirements
- Implications for Internal and External Audit
- Impact on financial processes and systems
- Implementation
- How to formulate a documented action plan
- How to manage substantial financial resources
- How to develop skills to aid implementation, capacity development, benefits realisation and risk management plans
- How to provide wider training and how to contribute to the strategic consequences of IFRS and IPSAS
- How to implement
- How to reduce risk of qualified accounts
- To define and apply the transition process to IFRS or IPSAS and identifying the first-time exemption
- Exceptions relating to the financial statements of a transitioning organization
WHO SHOULD ATTEND?
Designed for finance professionals in the private and public sector the course will benefit anyone who requires an understanding of international financial reporting standards within the public sector. It is also suitable for:
- Accountants and Finance Staff at all levels involved in the preparation of financial statements
- IFRS and IPSAS Implementation and Maintenance Teams
- Internal Auditors and Consultants dealing with financial reporting
- Financial Executives
- Financial Analysts
- Bankers
- Investment Bankers
- Any other professionals involved in the preparation, presentation, implementation or analysis of financial statements prepared in accordance with IFRS
TRAINING METHODOLOGY
This Best Practice Financial Management and Reporting for the Public Sector (IFRS & IPSAS) training course will combine presentations with interactive practical exercises, supported by video materials, activities and case studies. Delegates will be encouraged to participate actively in relating the principles of stress management to the particular needs of their workplace. Delegates will leave with a detailed understanding of the accounting requirements of IPSAS and IFRS.
TRAINING SUMMARY
This comprehensive EuroMaTech Financial Management and Reporting for the Public Sector (IFRS and IPSAS) training course will enable each participant to appreciate and understand the basics and certain complexities associated with IFRS and IPSAS along with topic terminology, concepts and applications.
In gaining a perspective of the origins of IFRS and IPSAS, the accomplishments, to date, in the development and acceptance of global accounting standards and insights into the foreseeable future, participants will gain a valuable understanding of this critical field of knowledge and be capable of contributing meaningful assistance to their respective organizations with respect to the adoption and utilization of these accounting standards.
- Unique learning and assessment programme tailored for the private and public sector
- High quality and practical programme developed by public sector financial reporting experts
- Learning that will help guide your organisation throughout the transition and embedding period
- Supports both direct IPSAS adoption and implementation of IFRS modified for the public sector
- Achieve a shared level of understanding of the standards across your organisation
TRAINING OUTLINE
Module 1: International Financial Reporting Standards (IFRS)
Day 1 : Evolution of International Accounting Standards
- Introduction to IFRS
- History, Overview, and Future Standards
- Roles of Key Accounting Standards-Setting Bodies
- Objectives and Structure of the IASB
- Framework, Demand, and Adoption of IFRS
- Convergence
- Historical Context
- Benefits, Challenges, and Issues
- IASB/FASB Projects
- U.S. SEC Adoption Timeline and Activities
Day 2 : Structural Framework for Financial Statement Preparation and Presentation
- Objectives and Impact on Financial Statement Audits
- Scope, Structure, and Content of IFRS Financial Statements
- Accounting Policies and Underlying Assumptions
- Components and Qualitative Characteristics of Financial Statements
- Measurement and Recognition of Financial Statement Elements
- Transition Concerns and Planning
Day 3 : Preparation and Presentation of IFRS Financial Statements
- General and Specific Financial Statement Structures
- IAS 1 Overview
- Balance Sheet
- Income Statement
- Statement of Changes in Equity or Statement of Recognized Income and Expense (SORIE)
- Statement of Cash Flows
- Consolidation Criteria and Requirements
- Notes to Financial Statements and Related Disclosures
- Revenue Recognition and Reporting Standards
Day 4 : Conversion Preparation to IFRS
- Accounting Treatment Differences
- Inventory
- Fixed Assets
- Valuation and Revaluation
- Depreciation
- Deferred Taxes
- Contingencies
- Comprehensive Assessments
- Accounting and Tax Implications
- Process and Infrastructure Considerations
- Implementation Planning
- Conversion Challenges
- Technical Accounting and Tax Issues
- Supporting Infrastructure and Organizational Changes
- Developing Strategic Change Management Plans
- Post-Conversion Maintenance
- Supporting Processes
- Execution Strategies
- Comparative Analyses of Adopters vs. Non-Adopters
Day 5 : Impact of IFRS on Financial Statement Interpretations
- International Accounting Diversity Considerations
- Financial Analysis Techniques
- Common Size Statements
- Trend and Ratio Analysis
- DuPont Analysis
- Z-Scores and Investment Ratios
- Cash Flow Ratios
- Peer Group and Industry Comparisons
- Corporate Governance and IFRS Best Practices
- Integration of ESG (Environmental, Social, and Governance) Reporting with IFRS Standards.
- Future Trends and Developments in IFRS
Module 2: International Public Sector Accounting Standards (IPSAS)
Day 1 : Introduction to IPSAS
- Conceptual Basis of Government Accounting
- Reporting on the Full Cash Basis (IPSAS: Financial Reporting under the Cash Basis of Accounting)
- Progress Towards Accrual Accounting
- Role of IFAC in Public Sector Reporting
- Financial Reporting and Auditing Updates
Day 2 : The Need for IPSAS
- Importance of IPSAS for Public Sector Stewardship
- Differences Between Public Sector and Private Sector Accounting
- Overview of IPSAS Standards
- Accrual vs. Cash Accounting with updated guidance.
Day 3 : United Nations Case Study
- IPSAS and Public Sector Accounting Rules
- Key Concepts of IPSAS
- Adoption of IPSAS at UNDP: A Case Study
- Comparisons between UNSAS and IPSAS adoption processes
- Progress Reports on IPSAS Implementation at UNDP, UNFPA, and UNOPS
Day 4 : Implementation of IPSAS
- Transition from Cash to Accrual Accounting
- Key Issues and Impacts of IPSAS Implementation
- Updated Standards Overview
- Developing Unified Chart of Accounts
- Budgeting with IPSAS guidelines.
- Financial Statements and Compliance (IPSAS 1)
- Revenues, Receivables, and PP&E Reporting
Day 5 : Specific IPSAS Rules
- Reporting Payables and Expenses
- Managing Inventories and Intangible Assets
- IPSAS Guidance on Leases and Provisions
- Addressing Contingent Liabilities and Contingent Assets
- Pre-Financing and Budgeting
- GPFS: Cash Basis vs. Accrual Basis
- Impacts of IPSAS on Auditors and Internal Control Systems.
- Role of ICT in Supporting IPSAS Implementation
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ACCREDITATION
EuroMaTech is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.NASBARegistry.org.
Euromatech is a Knowledge & Human Development Authority (KHDA) approved training institute in Dubai, licensed and approved to deliver training courses in the UAE.
The KHDA is the regulatory authority in the UAE, that oversees administering, approving, supervising, and controlling the activities of various education providers in the UAE. We are proud of our commitment to ensuring quality training courses and status as a KHDA-approved training provider.
FAQ
What makes EuroMaTech a leader in professional training?
EuroMaTech stands out as a leader in training and professional development due to:
- 30+ years of experience delivering high-impact training courses across industries.
- Accreditations from leading institutions, ensuring top-tier course quality and recognition.
- A portfolio of thousands of training courses, serving professionals at every level.
- A focus on innovation and future-ready learning models, including blended and digital training.
- Long-term partnerships with organizations globally, ensuring sustained success through talent development.
How can I register for a EuroMaTech training course?
To register for a training course, you can:
- Visit the EuroMaTech website, browse the available courses, and follow the online registration process.
- Contact EuroMaTech’s support team for assistance with course selection or inquiries about corporate training solutions.
Does EuroMaTech offer international training courses?
Yes, EuroMaTech delivers training courses in major cities worldwide, including locations across Europe, Asia, Africa, and the Middle East, in addition to its extensive presence in Dubai.
Where are EuroMaTech’s training courses held?
EuroMaTech conducts its training courses at prestigious venues across Dubai and other major international cities. Additionally, virtual training options are available, allowing participants to join courses remotely from anywhere in the world.
What ISO training courses does EuroMaTech offer?
EuroMaTech provides a range of ISO certification and compliance training courses, including:
- ISO 9001 – Quality Management Systems Training
- ISO 45001 – Occupational Health & Safety Management Training
- ISO 14001 – Environmental Management Systems Training
These courses help organizations adopt internationally recognized standards and improve their overall performance.
How does EuroMaTech ensure the quality of its training courses?
EuroMaTech ensures the highest standards by:
- Partnering with globally recognized accrediting bodies such as ILM, CPD, PMI, NEBOSH, and HRCI.
- Designing training courses with a focus on practical, real-world applications.
- Using experienced instructors with industry expertise.
- Continuously updating course content to reflect current trends and best practices.
Does EuroMaTech provide customized corporate training courses?
Yes, EuroMaTech specializes in tailored corporate training courses designed to meet the unique needs of organizations. These customized courses are ideal for businesses seeking to upskill teams across different departments or regions.
How many professionals have attended EuroMaTech’s training courses?
EuroMaTech has successfully delivered thousands of training courses, with thousands of professionals from over 50 countries attending annually.
What industries does EuroMaTech serve through its training courses?
EuroMaTech provides specialized training courses for a wide range of industries, including:
- Oil & Gas
- Energy & Power
- Construction & Infrastructure
- Banking & Finance
- Healthcare
- Telecommunications
- Logistics & Supply Chain
- Aviation & Aerospace
- Government & Public Sector
- Hospitality & Tourism
- Information Technology & Cybersecurity
- Human Resources & Talent Management
Are EuroMaTech’s training courses accredited?
Yes, EuroMaTech’s training courses are accredited by globally recognized institutions, ensuring high-quality, internationally respected certifications. Key accreditations include:
- ILM (Institute of Leadership & Management)
- CPD (Continuing Professional Development Certification Service)
- PMI (Project Management Institute)
- NEBOSH (National Examination Board in Occupational Safety and Health)
- HRCI (Human Resource Certification Institute)
What types of training courses does EuroMaTech offer?
EuroMaTech offers a diverse portfolio of training courses designed to meet the needs of professionals at all levels. These include:
- Leadership & Management Development Training
- Technical & Engineering Training Courses
- Project & Risk Management Training
- Health, Safety & Environmental (HSE) Training
- Finance & Accounting Training Courses
- ISO Compliance & Certification Training
- Human Resources & Talent Management Training
- Soft Skills & Communication Training Courses
Do you provide assistance with hotel accommodation?
Yes, we can assist you with the following:
- Corporate Discount: If available, we can extend our corporate discount for your stay at selected hotels.
- Hotel Suggestions: We can provide recommendations for nearby hotels based on your preferences and budget.
Feel free to explore online booking platforms for the most cost-effective options.
Do you offer customized training for organizations?
Yes, we provide tailored training solutions designed to meet the specific needs of your organization. Customized courses can be delivered either in-person or online, and you can select the dates and duration that best fit your schedule. For more details, please contact us at inhouse@euromatech.com
What types of training formats do you offer?
We provide two flexible training formats to suit your preferences:
- Classroom Training: Experience in-person learning with expert instructors. Engage in interactive discussions, hands-on activities, and benefit from face-to-face networking.
- Online Training: Join live online sessions from anywhere, offering flexibility for those with busy schedules or who prefer remote learning.
- In-House Training: We can bring our training directly to your organization, allowing for tailored sessions that address your specific needs and objectives.
Can you assist with visa arrangements?
Yes, we can help by issuing an official Letter of Invitation once you’ve confirmed your training registration, which can assist in your visa application process.
Who will be the senior consultant leading the training?
We are happy to share the profiles of our expert instructors. To learn more about their qualifications and experience, please contact us info@euromatech.com
