Public Sector Accounting Immersion Workshop

These public sector accounting standards set out recognition, measurement, presentation and disclosure requirements dealing with transactions and events in the general-purpose financial statements of all public sector entities.

The accrual and cash basis accounting requirements are inspired by the International Financial Reporting Standards (IFRS) issued by the IASB but also deal with accounting issues that are specific to the public sector.

This ensures that organisations in the public sector that adopt accrual/cash basis accounting have financial reports that are consistent and comparable with the private-sector entities and at the same time also benefiting from guidance and interpretation for specific public-sector issues such as revenue from non-exchange transactions, presentation of budget information in the financial statements etc.

Lessons learned from the sovereign debt crisis and the increasing pressure on governments and public sector organisations to better manage public resources, have made a global case for action, highlighting the need for more transparent, consistent and globally comparable financial reporting in the public sector.  

Accrual accounting is now being adopted by a large number of public sector entities all over the world. International organisations have been at the forefront of the move towards accrual accounting, but the trend is also clear for governments, with an increasing number of them adopting accrual accounting practices with public sector accounting serving as a reference point.

In Europe, the European Commission is conducting a project to develop European Public Sector Accounting Standards (EPSAS) with Public Sector accounting requirements as a reference point.

Key Features Of The Workshop:

• Hands-on approach to learning, with real-life case studies, illustrative examples taken from the instructors’ practical experience in implementing and applying accrual/cash basis accounting requirements, and group exercises.
• Highly experienced Public Sector accounting instructors, which bring a wealth of practical experience to the course.
• An optimal balance between theory and practice.
• Interactive training: participants are encouraged to participate through group discussions, question sessions and group exercises.
• Top quality training material, hand-outs, examples and real-life case studies.