Overview
The ACCA Certificate in International Public Sector Accounting Standards (Cert IPSAS) provides a comprehensive overview of the fundamental requirements of accrual-based IPSAS. The course covers key areas of public sector financial reporting, from the functions of the IPSAS Board to the practical application of specific standards. It is highly relevant for accountants, auditors, and policymakers working with or within government and other public sector entities globally.
Key Learning Outcomes
This certification helps professionals understand the fundamental requirements of accrual-based IPSAS, distinguish between cash and accrual-based IPSAS, apply these standards in practice, and recognize their global use in preparing and interpreting financial statements.
Who is it for?
The Cert IPSAS is suitable for public sector employers and employees worldwide, as well as accountants, auditors, and policymakers.
Exam/ Assessment
The qualification is assessed by a one-hour online exam with 25 multiple-choice questions. A pass requires correctly answering 13 questions, a 50% pass mark.
International Public Sector Accounting Standards (IPSAS) are issued by the International Public Sector Accounting Standards Board (IPSASB).
Cert IPSAS course contents
The syllabus contains the following topics:
An overview of the work of the Board (IPSASB), including its organisation, the characteristics of public sector entities, the relationship between IPSAS and the International Accounting Standards (IAS) / International Financial Reporting Standards (IFRS), the purpose of financial statements and any ongoing projects.
Develops an overview of:
financial statements (IPSAS® 1)
cash flow statements (IPSAS® 2)
accounting policies, changes in accounting estimates, and errors (IPSAS® 3)
Provides an understanding of:
non-exchange revenue (IPSAS® 23)
exchange revenue (IPSAS® 9)
construction contracts (IPSAS® 11)
Delivers teaching around a wide range of topics including:
property plant and equipment (IPSAS® 17)
intangible assets (IPSAS® 31)
investment property (IPSAS® 16)
impairment of cash generating assets (IPSAS® 26)
impairment of non-cash generating assets (IPSAS® 21)
borrowing costs (IPSAS® 5)
inventories (IPSAS® 12)
leases (IPSAS® 13)
financial instruments (IPSAS® 28, 29, 30)
provisions
contingent liabilities and contingent assets (IPSAS® 19)
events after the reporting date (IPSAS® 14)
employee benefits (IPSAS® 25)
agriculture (IPSAS® 27)
Delivers training around:
consolidated and separate financial statements (IPSAS® 6)
interests in joint ventures (IPSAS® 8)
investments in associates (IPSAS® 7)
translation of financial statements of foreign operations (IPSAS® 4)
financial reporting in hyperinflationary economies (IPSAS® 10)
disclosure standards and other topics, presentation of budget information (IPSAS® 24)
segment reporting (IPSAS® 18)
related party disclosures (IPSAS® 20)
disclosure of financial information about the general government sector (IPSAS® 22)
service concessions (IPSAS® 32)
Teaches students about Part 1 of the cash basis IPSAS®, covering required information in:
the statement of cash receipts and payments
disclosures
consolidation under the cash basis
presentation of budget information in the financial statements
the additional (non-mandatory) disclosures encouraged in Part 2 of the cash basis IPSAS®
Delivers training cover the following areas:
migrating from cash to accrual basis
first time adoption of IPSAS® (IPSAS® 33)
change management and the adoption of IPSAS®
Teaches students about Public sector financial crisis and IPSAS®, IPSASB’s strategic direction and forthcoming proposals from the IPSASB.