Background:

Hetta Institute for International Development (HIID) is a USA-based professional educational corporation specializing in human capacity building. The Institute specializes in helping the mid and senior-level executives, particularly those from the developing countries, to upgrade their skills. HIID was founded in 2001 and registered with Arizona Corporation Commission, Phoenix, Arizona, USA.  Hetta Institute for International Development is also registered with the New Jersey Department of the Treasury Division of Revenue and Enterprise Services. HIID also partners with the Center for Executive Training and International Development (CETID), a professional training provider in sustainable development, registered and based in Manhattan, New York City, USA.  Since 2001, HIID has provided short term training courses to hundreds of high-ranking government and corporate officials.

Description:

Lack of global uniformity in the practice of public sector accounting is a major factor impeding the reduction of bureaucracy and the creation of comparable standards in terms of accountability and transparency. The IPSAs, developed by IPSAs Board, are designed to set up high-quality accounting standards and guidance for use by public sector entities and agencies all over the world in preparation of general purpose financial reports. The IPSAs practice continues to help in the process of harmonizing public sector accounting. In this course, participants will be provided with an in-depth review and analysis of the most relevant requirements for preparing financial statements and disclosures under the accrual-based IPSAs.

Course Learning Objectives:

In this course, participants will be trained on the most important requirements for preparing financial statements and disclosures under the accrual basis of IPSASs. At the end of the course, delegates will be able to adopt IPSAs goals to improve the quality and high standard of the financial reporting system in their institutions. This will lead to improved informed assessments of the resource allocation choice made by governments, leading to increased transparency and accountability.

Course Content:

The “International Public Sector Accounting Standards (IPSAs)” course has some of the following key areas of learning for 2 weeks organized into the following modules:

Definition and analysis of Key Concepts in financial accounting and reporting:

  • Financial Reporting System
  • Financial Statements
  • Budgeting and control
  • Scope of IPSAs
  • International Public Sector Accounting standards (IPSAs)
  • International Financial Reporting System Standards (IFRS)

Background and overview of IPSAs:

  • What are the International Public Sector Accounting Standards?
  • Updated general information about IPSASs and the IPSAS

What is IFRS?

  • IPSAs vs IFRS comparison
  • Objectives of IPSAs
  • The Conceptual Framework of IPSAs
  • The general purpose of the Financial Statement
  • Procedure for developing accounting standards
  • Fundamentals concepts of accrual accounting

Overview of Accruals Basis IPSAS

  • Overview of Cash Basis IPSAS
  • Presentations of financial statements and disclosures
  • Cash flow statement, accounting policies, Performance and service reporting.
  • Non-current assets – property, plants, equipment, borrowing costs, investment property, intangible assets

Revenues and related costs

  • Revenues from non-exchange transactions, revenue from exchange transactions, inventories, construction contracts
  • Liabilities and expenses – contingent liabilities and contingent assets, employee benefits
  • Financing and financial instruments – leases, service concession Assets, financial instruments
  • Consolidation and interests on other entities – Consolidated Financial Statements, public sector combinations

Other presentations and disclosures standards

  • Segment reporting, presentation of budget information in financial statements
  • Short case studies to illustrate real examples of IPSAS best practices all over the world.
  • Course delegates will also learn more about up-to-date information on the IPSASB’s Work Plan
  • What are the recent changes in the IPSAs?
  • Impact of the global financial crisis and sovereign debt crisis on public sector accounting
  • Accounting issues relating to public sector intervention
  • What practical issues commonly arise when implementing IPSASs?

Public Financial Management (PFM)

  • Overview of Public Financial Management (PFM)
  • IPSAs vs PFM comparison
  • Public Sector Risk Management and Internal Audit
  • Detecting and Investigating Public Sector Accounting Frauds
  • Combating Corruption in Government Procurement, Welfare and Tax Programs
  • Detecting and Investigating Public Sector Accounting Frauds

Course Outcome

  • View all IPSAS & PFM courses
  • At the end of the course, Participants are expected to:
  • Understand clearly the accrual-based IPSAS requirements, including accounting policies and disclosures
  • Be able to prepare IPSAS-compliant financial statements
  • Be able to comply with IPSAS disclosure requirements, including accounting policies
  • Be able to implement IPSAS measurement rules for assets, liabilities, revenues and expenses
  • Prepare ahead for issues that arise when transitioning from the cash basis to the accrual basis of accounting
  • Increase their planning opportunities through awareness of likely future IPSAS changes.

Learning Methodology:

The course is delivered in a workshop setting facilitated by seasoned professional facilitators with practical experience. Active participation is required and key to the success of the workshops. Other methods used in this course include case studies and problem-solving exercises. Assessment of participant’s performance will be measured through effective class participation, group presentation, group project, and class attendance. This course combines presentations, lectures, class discussions, group presentation, and problem-solving exercises.

Who should attend?

The course should prove valuable to all directors and managers who manage funds in their department or organization – financial managers, controllers, auditors, bankers, department heads, and managers.

Course Duration:

2 weeks

Training Locations and Scheduled Dates:

Phoenix, Arizona, USA; Jersey City, New Jersey, USA: June 17-28; October 14-25, 2019; Washington DC, USA: Feb 11-22, 2019

Course Materials:

Include PowerPoint presentation slides, carefully selected reading materials, exercises, case studies, reading references, and a brand new laptop computer.

Course Fees:

The course fee is $5,500 for 2 weeks. The course fee covers the following: instruction, course materials, administration expenses, field trips, cultural programs, and miscellaneous program-related expenses.

How to Register:

To receive a letter of invitation and supporting documents, you must complete and forward the registration form to the training director as soon as possible. To participate in this course, the applicant must:
  • 1. Send a completed application form
  • 2. Have a bachelor’s degree/or have relevant work experience at senior management level
  • 3. Be nominated by the head of his/her department
  • 4. Be a senior member of the department/organization
  • 5. Demonstrate a devoted interest in the course
  • 6. Have proof of English proficiency
  • 7. Demonstrate proof of financial sponsorship of the course.