Event Date: 
Monday, March 16, 2020 to Friday, March 20, 2020

Auditax International IPSASs course is a 5 days course and equips participants with an overview of the most important requirements for preparing financial statements and disclosures under accrual based IPSAS and cover the latest standards issued.

IPSAS standards are covered by experienced trainers in a clear, simple language and combined with model financial statements and practical examples. The course is also delivered through live group interaction. Case studies are also used. Certificate and training materials are issued at the end of the course.

On attending this course, participants will be able to:

  • Know the current requirements for presentation of accrual-based IPSASs financial statements and related disclosures.
  • Differentiate Accrual based IPSASs from IFRSs and cash basis frameworks.
  • Ability to manage transition from IFRS or cash basis IPSASs to IPSASs accrual basis.
  • Be able to comfortably prepare accrual based IPSASs financial statements.
  • Address the practical issues arising when implementing accrual based IPSASs.
  • Understand the recent changes in IPSASs
  • IPSAS recognition and measurement of asset, liabilities, revenues and expenses.
  • Be able to develop accounting policies for presentation of IPSAS financial statement and disclosures.

Topics to be covered

1. Introduction to IPSAS

  • Brief history
  • Scope of IPSAS
  • Sources of guidance
  • The IPSASB Conceptual Framework
  • Identifying entities which might apply IPSAS

2. Reporting & Disclosure

  • IPSAS 1 Presentation of Financial Statements
  • Required financial statements
  • Structure & Content

           (i) IPSAS 2 Cash Flow Statements

  • Cash and cash equivalents
  • Operating, investing and financing activities

           (i) IPSAS 3 Net Surplus or Deficit for the Period - Fundamental Errors and Changes in Accounting Policies

  • Changes in accounting estimates
  • Changes in accounting policies
  • Correction of fundamental errors

3.  Non-current Assets

  • IPSAS 17 Property, Plant and Equipment
  • Initial recognition
  • Subsequent valuation
  • Depreciation
  • Treatment of infrastructure and heritage assets

              (i) IPSAS 16 Investment Property

  • Initial recognition
  • Subsequent valuation
  • Transitional provisions for initial adoption

           (i) IPSAS 31 Intangible Assets

  • Identifying relevant intangible assets and their initial recognition
  • Measurement

          (i) IPSAS 21 & 26 Impairment of Non-Cash-Generating Assets & Impairment of Cash-Generating Assets

  • Impairment identification
  • Recognition and measurement
  •  Impairment reversals
  • Disclosure requirements

4.  Revenues & Related Costs

  • IPSAS 23 Revenue from Non-Exchange Transactions (Taxes and Transfers)
  •  Recognition and measurement of tax revenue
  • Recognition of revenue from transfers
  •  Reflecting conditions and restrictions in the financial statements

(i) IPSAS 9 Revenue from Exchange Transactions

  •   Accounting treatment for exchange transactions

(i) IPSAS 12 Inventories

  •   Public sector entity inventories
  • Inventories held for distribution at no or nominal charge

5. Liabilities and Expenses

  • General expense recognition principles and application to donations given
  • IPSAS 19 Provisions, Contingent Liabilities and Contingent Assets
  •  Definitions
  • Recognition and measurement
  •  Disclosures

(i) IPSAS 25 Employee Benefits

  • Short and long-term benefits
  • Recognition, measurement of pension obligations

  6. Financing

  • IPSAS 13 Leases
  •  Lessee and lasso financial reporting requirements
  • Sale and leaseback transactions

           (i) IPSAS 32 Service Concession Arrangements

           (ii) IPSAS 4 The Effect of Changes in Foreign Exchange Rates

  • Foreign currency transactions
  • Foreign operations

7. Consolidations and Interests in Other Entities

  • IPSAS 34 Separate Financial Statements
  • IPSAS 35 Consolidated Financial Statements - Accounting for Controlled Entities
  •  Consolidation boundaries under IPSAS and concepts of public sector control
  • Consolidation requirements
  • Determining whether control exists

(i) IPSAS 36 Accounting for Investments in Associates and Joint Ventures

  •   Equity method of accounting
  • Cost method requirements

(i) IPSAS 37 Accounting for Joint Arrangements

  •  Distinguishing joint ventures from joint operations
  • Equity and proportional accounting method

(i) IPSAS 38 Disclosure of Interest in Other Entities

(ii) IPSAS 39 Employee Benefits

(iii) IPSAS 40 Public Sector Combinations

8. Other Presentation and Disclosure Standards

  • IPSAS 18 Segment Reporting
  • Distinguishable activities

(i) IPSAS 20 Related Party Disclosures

  •  Identification of related parties
  • Disclosure requirements

(i) IPSAS 24 Presentation of Budget Information in Financial Statements

  •  Required disclosures
  • Comparison of budget and actual amounts
  •  Material differences


9. IPSAS Updates


TZS 690,000 per person (VAT inclusive)-including lunch to be made payable through bank deposits to Account no: 0150303162800CRDB BankAccount Name: Auditax International. Cheques to be written in the name of Auditax International and delivered to our offices: Dar es Salaam: PPF Tower, 7th Floor, Ohio Street / Garden Avenue. Confirmation: If you are planning to attend kindly confirm by calling +255 719 878490 or +255 652864952

Kindly remember to deduct 5% Withholding tax on the amount exclusive of VAT and present the payment evidence and withholding tax certificate and at the venue.