This comprehensive five-day training course is meticulously designed to equip participants with a thorough understanding of public sector accounting principles and the International Public Sector Accounting Standards (IPSAS). Participants will gain essential knowledge and practical skills in applying IPSAS to financial reporting in the public sector, ensuring transparency, accountability, and effective financial management in line with international best practices and the specific context of public finance in Kenya.
The course will cover a range of critical topics, including the conceptual framework of IPSAS, the application of specific IPSAS standards to key financial statement elements such as property, plant, and equipment, inventories, revenue, and financial instruments, as well as the preparation and presentation of financial statements under IPSAS, and the implications of IPSAS adoption for public sector entities in Kenya. Through interactive sessions and practical exercises, participants will develop the competencies required for accurate and compliant public sector financial reporting.
Who should attend the training
· Accountants in the public sector
· Finance officers
· Budget officers
· Internal auditors
· External auditors of public sector entities
· Government officials involved in financial management
· Finance professionals transitioning to the public sector
· Consultants working with public sector organizations
· Academics and researchers in public finance
Objectives of the training
· Understand the conceptual framework and objectives of IPSAS.
· Gain a comprehensive knowledge of key IPSAS standards and their application in the public sector.
· Develop skills in recognizing, measuring, and reporting assets, liabilities, revenue, and expenses in accordance with IPSAS.
· Learn how to prepare and present complete sets of financial statements under IPSAS.
· Understand the differences between cash-based and accrual-based accounting and the transition to IPSAS accrual accounting.
· Analyze the impact of IPSAS adoption on financial management and reporting in the Kenyan public sector.
· Learn about current developments and interpretations of IPSAS.
· Develop practical skills through case studies and exercises relevant to the public sector.
· Enhance understanding of the link between IPSAS and public sector budgeting and planning.
· Improve the quality and transparency of public sector financial reporting.
Personal benefits
· Enhanced knowledge and skills in public sector accounting and IPSAS.
· Increased competence in preparing and interpreting IPSAS-compliant financial statements.
· Improved understanding of international best practices in public financial management.
· Enhanced career opportunities in the public sector and related organizations.
· Greater confidence in handling public sector financial reporting responsibilities.
Organizational benefits
· Improved transparency and accountability in public sector financial reporting.
· Enhanced comparability of financial statements across different public sector entities.
· Increased credibility and trust in public finances.
· Facilitation of better financial management and decision-making.
· Compliance with international accounting standards for the public sector.
· Strengthened capacity of finance personnel in public sector organizations.
Training methodology
· Interactive lectures and presentations with Kenyan public sector examples
· Group discussions and experience sharing on challenges and solutions in IPSAS implementation
· Case studies based on real-world public sector scenarios in Kenya
· Practical session: Applying the IPSAS framework to classify public sector transactions.
· Hands-on exercises in preparing financial statement components under specific IPSAS standards
· Practical session: Accounting for property, plant, and equipment (PPE) under IPSAS 17.
· Analysis of published IPSAS financial statements of public sector entities
· Practical session: Analyzing the statement of financial performance and financial position.
· Group work on addressing practical implementation issues of IPSAS
· Practical session: Identifying the implications of IPSAS on revenue recognition in the public sector.
· Question and answer sessions and knowledge sharing
· Practical session: Preparing a cash flow statement using the direct and indirect methods under IPSAS 2.
Trainer Experience:
Our trainers are highly experienced public sector accounting professionals with in-depth knowledge of IPSAS and its application within the Kenyan public finance context. They possess advanced accounting qualifications (e.g., CPA, ACCA) and have extensive experience in implementing IPSAS, auditing public sector entities, and providing financial management consultancy to government institutions and parastatals in Kenya. Their expertise combines a strong theoretical foundation with practical insights into the challenges and opportunities of public sector accounting and IPSAS adoption in the region.
Quality statement:
Armstrong Global Institute is committed to providing high-quality and relevant training in public sector accounting and IPSAS. Our courses are developed and delivered by experienced professionals who are experts in the field and have a thorough understanding of the Kenyan public sector financial environment. We utilize interactive methodologies and practical examples to ensure participants gain the skills and knowledge necessary for effective application of IPSAS in their workplaces, contributing to improved financial management and reporting in the public sector.
Tailor-made courses:
Armstrong Global Institute understands that different public sector organizations may have specific training needs related to their unique functions and stages of IPSAS adoption. We offer tailor-made versions of this training course that can be customized to address the specific IPSAS standards relevant to your entity, the level of expertise of your staff, and the particular challenges you are facing in implementing or applying IPSAS in the Kenyan context. Contact us to discuss your specific training requirements and how we can develop a targeted and impactful program for your organization.
Course duration: 5 days
Training fee: USD 1300
Module 1: Introduction to Public Sector Accounting and IPSAS
· Overview of public sector accounting principles and objectives
· The need for international public sector accounting standards (IPSAS)
· The conceptual framework of IPSAS
· Objectives and scope of IPSAS
· The IPSASB and the standard-setting process
· Practical session: Analyzing the key differences between public and private sector accounting.
Module 2: Core IPSAS Standards - Presentation of Financial Statements
· IPSAS 1: Presentation of Financial Statements
· IPSAS 2: Cash Flow Statements
· IPSAS 18: Segment Reporting
· IPSAS 20: Related Party Disclosures
· IPSAS 29: Financial Instruments: Recognition and Measurement (Overview)
· Practical session: Identifying the required components of a complete set of IPSAS financial statements.
Module 3: Core IPSAS Standards - Assets
· IPSAS 16: Property, Plant and Equipment
· IPSAS 17: Property, Plant and Equipment
· IPSAS 12: Inventories
· IPSAS 13: Leases
· IPSAS 31: Intangible Assets
· Practical session: Accounting for the acquisition and depreciation of a public sector asset under IPSAS 17.
Module 4: Core IPSAS Standards - Liabilities and Equity
· IPSAS 19: Provisions, Contingent Liabilities and Contingent Assets
· IPSAS 23: Revenue from Non-Exchange Transactions (Taxes and Transfers)1
· IPSAS 9: Revenue from Exchange Transactions
· IPSAS 39: Employee Benefits
· IPSAS 24: Presentation of Budget Information in Financial Statements
· Practical session: Recognizing and measuring a provision for a contingent liability in the public sector.
Module 5: Core IPSAS Standards - Financial Instruments
· IPSAS 29: Financial Instruments: Recognition and Measurement (Detailed)
· IPSAS 30: Financial Instruments: Disclosures
· IPSAS 40: Financial Instruments: Hedge Accounting
· Understanding the classification and measurement of financial assets and liabilities
· Accounting for impairment of financial assets
· Practical session: Classifying different types of public sector financial instruments under IPSAS 29.
Module 6: Specific Public Sector Issues under IPSAS
· IPSAS 21: Impairment of Non-Cash-Generating Assets
· IPSAS 26: Impairment of Cash-Generating Assets
· IPSAS 22: Disclosure of Information about the General Government Sector
· IPSAS 32: Service Concession Arrangements: Grantor
· IPSAS 35: Consolidated Financial Statements
· Practical session: Determining whether a public sector asset is cash-generating or non-cash-generating.
Module 7: Transition to IPSAS Accrual Accounting
· Understanding the differences between cash and accrual accounting
· Challenges and benefits of transitioning to IPSAS accrual accounting in Kenya
· Developing a transition plan and strategy
· First-time adoption of IPSAS (IPSAS 33)
· Practical considerations for the transition process
· Practical session: Identifying the key adjustments required when transitioning from cash to accrual accounting.
Module 8: Budgeting and Financial Reporting under IPSAS
· The relationship between IPSAS and public sector budgeting processes in Kenya
· Presentation of budget information in IPSAS financial statements (IPSAS 24)
· Variance analysis and reporting
· Integrating budget and actual financial performance
· The role of IPSAS in enhancing budget credibility
· Practical session: Analyzing the presentation of budget information in IPSAS-compliant financial statements.
Module 9: Current Developments and Interpretations of IPSAS
· Recent pronouncements and amendments to IPSAS
· Exposure drafts and ongoing projects of the IPSASB
· Interpretations issued by the IPSASB
· Implications of current developments for the Kenyan public sector
· Keeping up-to-date with IPSAS requirements
· Practical session: Discussing the potential impact of a recent IPSAS amendment on public sector reporting.
Module 10: Practical Application and Case Studies in the Kenyan Public Sector
· Comprehensive case studies illustrating the application of various IPSAS standards in Kenyan public sector entities
· Addressing common challenges in IPSAS implementation
· Best practices in public sector financial reporting under IPSAS in Kenya
· The role of technology in IPSAS compliance
· Future trends in public sector accounting and reporting
· Practical session: Working through a comprehensive case study on preparing IPSAS financial statements for a Kenyan government entity.
Requirements
· Participants should be reasonably proficient in English.
· Applicants must live up to Armstrong Global Institute admission criteria.
Terms and Conditions
1. Discounts: Organizations sponsoring Four Participants will have the 5th attend Free
2. What is catered for by the Course Fees: Fees cater for all requirements for the training – Learning materials, Lunches, Teas, Snacks and Certification. All participants will additionally cater for their travel and accommodation expenses, visa application, insurance, and other personal expenses.
3. Certificate Awarded: Participants are awarded Certificates of Participation at the end of the training.
4. The program content shown here is for guidance purposes only. Our continuous course improvement process may lead to changes in topics and course structure.
5. Approval of Course: Our Programs are NITA Approved. Participating organizations can therefore claim reimbursement on fees paid in accordance with NITA Rules.
Booking for Training
Simply send an email to the Training Officer on training@armstrongglobalinstitute.com and we will send you a registration form. We advise you to book early to avoid missing a seat to this training.
Or call us on +254720272325 / +254725012095 / +254724452588
Payment Options
We provide 3 payment options, choose one for your convenience, and kindly make payments at least 5 days before the Training start date to reserve your seat:
1. Groups of 5 People and Above – Cheque Payments to: Armstrong Global Training & Development Center Limited should be paid in advance, 5 days to the training.
2. Invoice: We can send a bill directly to you or your company.
3. Deposit directly into Bank Account (Account details provided upon request)
Cancellation Policy
1. Payment for all courses includes a registration fee, which is non-refundable, and equals 15% of the total sum of the course fee.
2. Participants may cancel attendance 14 days or more prior to the training commencement date.
3. No refunds will be made 14 days or less before the training commencement date. However, participants who are unable to attend may opt to attend a similar training course at a later date or send a substitute participant provided the participation criteria have been met.
Tailor Made Courses
This training course can also be customized for your institution upon request for a minimum of 5 participants. You can have it conducted at our Training Centre or at a convenient location. For further inquiries, please contact us on Tel: +254720272325 / +254725012095 / +254724452588 or Email training@armstrongglobalinstitute.com
Accommodation and Airport Transfer
Accommodation and Airport Transfer is arranged upon request and at extra cost. For reservations contact the Training Officer on Email: training@armstrongglobalinstitute.com or on Tel: +254720272325 / +254725012095 / +254724452588
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Armstrong Global Institute
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