CFC7001: Training on IPSAS: Transition from Cash Basis to Accrual Basis Accounting.

Module 1: Introduction to IPSAS and the Transition to Accrual Basis

• Overview of IPSAS
• Understanding the Cash Basis and Accrual Basis IPSAS
  • Cash Basis IPSAS: Principles and Application
  • Accrual Basis IPSAS: Core Concepts and Principles
  • Benefits and Challenges of Transitioning to Accrual Basis
  • Steps Involved in the Transition Process

Module 2: IPSAS Standards Related to Accrual Accounting

• Revenue Recognition (IPSAS 9, 23)
  • Accounting for Revenue from Exchange and Non-Exchange Transactions
  • Identifying and Measuring Revenue
  • Accounting for Grants and Contributions
• Expenses Recognition (IPSAS 1, 19, 25)
  • Recognition and Measurement of Expenses
  • Employee Benefits and Provisions
  • Accounting for Contingent Liabilities and Assets
• Financial Reporting under Accrual Basis (IPSAS 1, 24)
  • Preparation of Financial Statements
  • Presentation of Budget Information in Financial Statements
  • Compliance with IPSAS Financial Reporting Requirements
• Assets and Liabilities (IPSAS 13, 17, 21, 31)
  • Recognition and Measurement of Assets (Property, Plant, and Equipment)
  • Intangible Assets and Heritage Assets
  • Accounting for Leases and Public Sector Infrastructure
  • Managing Impairment and Revaluation of Assets

Module 3: Transition Strategy and Implementation

• Planning the Transition
  • Developing a Comprehensive Transition Plan
  • Establishing a Transition Team and Governance Structure
  • Identifying Key Stakeholders and Communication Strategies
• Data Migration and System Adaptation
  • Data Requirements for Accrual-Based Reporting
  • Data Cleansing and Migration from Cash Basis to Accrual Basis
  • Adapting IT Systems and Software for Accrual Accounting
  • Ensuring Data Integrity and Accuracy during Transition
• Capacity Building and Training
  • Training Finance Personnel on Accrual-Based IPSAS
  • Continuous Professional Development and Knowledge Sharing
  • Managing Resistance to Change and Building Buy-In
  • Tools and Resources for Effective Transition

Module 4: Practical Implementation Challenges and Solutions

• Challenges in Asset and Liability Recognition
  • Identifying and Valuing Public Sector Assets and Liabilities
  • Managing Complexities in Infrastructure and Heritage Assets
  • Handling Contingent Liabilities and Provisions
• Budgeting and Performance Management under Accrual Basis
  • Adjusting Public Sector Budgeting to Accrual Basis
  • Linking Accrual Accounting with Performance Measurement
  • Ensuring Fiscal Sustainability and Accountability
• Audit and Compliance under Accrual IPSAS
  • Understanding the Role of External and Internal Audits
  • Ensuring Compliance with IPSAS Standards
  • Preparing for IPSAS-Based Audits
  • Reporting and Disclosure Requirements

Module 5: Post-Implementation Review and Continuous Improvement

• Post-Implementation Review
  • Conducting a Post-Implementation Review of the Transition
  • Identifying Successes and Areas for Improvement
  • Benchmarking Against Global Best Practices
• Continuous Improvement and IPSAS Updates
• Future Trends in Public Sector Accounting