Public Sector Accounting Immersion Workshop | 3-Day Progam | GID 22006 | Cape Town

Instructor Bio

Our trainers have specialist knowledge and first-hand experience in implementing the International Financial Reporting Standards (IFRS), International Public Sector Accounting Standards (IPSAS), Generally Accepted Accounting Principles (USGAAP), UK GAAP, Risk management strategies, Valuations, Mergers & Acquisitions, Corporate Governance, Environmental, social, and corporate governance (ESG) reporting, Supply Chain Management, Prudential regulations, Compliance matters (such as Basel regulations, Solvency II, Anti Money Laundering regulations and a number of other evolving regulatory matters) and a whole range of professional development programs (e.g., Negotiations Skills, Presentation Skills, Data Management, Python, Block-Chain, Digital Assets, Becker CPA etc.)

This ensures an engaging and stimulating learning experience for professionals and senior executives, helping to ensure knowledge is retained. They understand the accounting and regulatory requirements, risk environment, industry issues and challenges, risk management strategies, financial reporting & disclosure requirements, and compliance environment. They impart their knowledge using real-life industry examples, simple and user-friendly presentations of important concepts/approaches and case studies.

Instructor for this course

Shasat Faculty

Our Partners

Our Partners in Learning

Course Description

Introduction to Public Sector Accounting Developments and Conceptual Framework

• Overview of the Public Sector Accounting Requirements
• Structure of the Public Sector Accounting Requirements and Standard-Setting Process
• Current Stage of Accrual/Modified Cash Basis Accounting Implementation Across the Globe (Link with PwC Global Survey on Government Accounting and Reporting)
• Overview of the Conceptual Framework and Key Accounting Principles
• Differences and Similarities with IFRS
• Discussion of the Recognized Benefits of Accrual Accounting
• Accounting Policies, Changes in Accounting Estimates, and Errors
• Presentation of Financial Statements and Specific Disclosure Requirements
• The Statement of Financial Position
• The Statement of Financial Performance
• The Statement of Changes in Net Assets/Equity
• The Statement of Cash Flows
• Events After Reporting Date
• Segment Reporting
• Related Party Disclosures
• Presentation of Budget Information
• Case Study: Analysis of Public Sector Financial Statements of a Government and an International Organization

Implementing Accrual/Modified Cash Basis Accounting in Practice – The Transition Step by Step

• Public Sector Accounting Conversion Methodology
• Gap Analysis and Roadmap – Understanding the Main Challenges and Developing the Detailed Project Plan
• Conversion – Implementing the Change at All Levels and Preparing the First Compliant Financial Statements
• Embedding – Ensuring Changes Last, Adapting Systems, Processes, Information Flows to Accounting Requirements and Making Sure That Public Sector Accounting Knowledge Is Spread Across the Organization
• Project Planning and Resources
• Impact on IT Systems and Budgets
• Discussion of Implementation Challenges
• Q&A Session

IPSAS Standards in Practice: Implementing Existing and New Accounting Standards

• Property, Plant, and Equipment
  • Discussion of Main Items of PP&E
  • Analysis of PP&E Life Cycle
  • Recognition of PP&E – Elements to Be Included in the Acquisition Cost, Use of Materiality Thresholds, Borrowing Costs, Self-Constructed Assets
  • Initial Measurement and Measurement Subsequent to Recognition – Cost Model versus Revaluation Model
  • Depreciation, Applying the Components Approach
  • Impairment of Cash-Generating Assets and Non-Cash-Generating Assets: How to Distinguish Them, How to Apply the Principles
  • De-recognition of Items of PP&E
  • Case Studies: Identification and Measurement of PP&E
  • Key Disclosure Requirements
  • Discussion on Practical Implementation Challenges (Focusing on Key Issues for Governments and Other Public Sector Entities: Infrastructure and Military Assets, Heritage Assets, Land and Buildings, Project Assets, Opening Balance Sheet Preparation and Availability of Historical Data, etc.)
• Investment Property
  • Scope and Definition, Identification of Investment Property
  • Recognition and Measurement
  • Case Study: Identification of Investment Property
  • Key Disclosures Requirements
  • Discussion on Practical Implementation Challenges
• Intangible Assets
  • Key Items of Intangible Assets in the Public Sector (Concessions, Development Costs, etc.)
  • Recognition and Measurement of Intangible Assets
  • Case Study: Accounting for Internally Developed Software
  • Key Disclosure Requirements
  • Discussion on Practical Implementation Challenges
• Financial Instruments: Presentation and Disclosure
  • Overview of IPSAS 41 and its key requirements Classification of financial instruments Measurement of financial instruments Disclosures
• IPSAS 42 – Social Benefits
  • • Overview of IPSAS 42 and its key requirements Recognition and measurement of social
• Leases
  • Classification of Operating and Finance Leases
  • Accounting for Operating Leases:
    • Lessee Accounting
    • Lessor Accounting
  • Accounting for Finance Leases:
    • Lessee Accounting
    • Lessor Accounting
  • Case Study:
    • Lease Classification
  • Finance Lease Accounting and Effective Interest Rate
• IPSAS 43, Leases
  • Operating and finance lease classification, lessee and lessor accounting
• IPSAS 44, Non-Current Assets Held for Sale and Discontinued Operations:
  • Recognition, measurement, and disclosures
• IPSAS 45, Property, Plant, and Equipment:
  • Recognition, initial and subsequent measurement, depreciation, impairment, and derecognition
• IPSAS 46, Measurement:
  • Overview of measurement bases, including current operational value
• IPSAS 47, Revenue:
  • Key principles aligned with IFRS 15, recognition, and measurement of revenue from exchange and non-exchange transactions
• IPSAS 48, Transfer Expenses:
  • Accounting for grants and other non-reciprocal transfers
• IPSAS 49, Retirement Benefit Plans:
  • Accounting and reporting requirements for retirement benefit plans
• RPG 1 and RPG 3 on Sustainability:
  • Introduction to sustainability reporting guidelines for long-term financial sustainability and service performance
• Latest Amendments and Exposure drafts
• Real Life Examples
• Group Case Studies
• Q&A

The course agenda provided herein is the proprietary intellectual property of Shasat. It is intended solely for the use of participants enrolled in the respective course. Any reproduction, distribution, or unauthorized use of this course agenda, in whole or in part, without the explicit written consent of Shasat, is strictly prohibited and may result in legal action.

All rights reserved. ©2024, Shasat

Why you must attend?

Are you interested in enhancing your knowledge and skills in the field of public sector accounting? Then the Public Sector Accounting Immersion Workshop is the perfect opportunity for you! This workshop is specifically designed to provide comprehensive and practical training on the latest developments and concepts in public sector accounting.  Led by expert trainers with extensive experience in the field, the workshop will cover a range of topics, including the structure of public sector accounting requirements and the standard-setting process, the implementation of accrual/modified cash basis accounting, property, plant, and equipment, investment property, intangible assets, and leases, and many more.

One of the highlights of this workshop is its emphasis on practical implementation challenges. Through interactive case studies and group discussions, you will have the opportunity to apply the concepts you learn in real-world scenarios and gain valuable insights into the challenges faced by public sector entities in implementing these standards.  Attending this workshop will provide you with a deep understanding of the key principles and concepts of public sector accounting, and equip you with the tools and knowledge necessary to implement these standards in your organization. This knowledge will not only enhance your professional expertise, but also add value to your organization by improving financial reporting and decision-making.

Don’t miss out on this unique opportunity to advance your career in public sector accounting. Join us for the Public Sector Accounting Immersion Workshop and take your knowledge and skills to the next level!
 

Key learning objectives

By attending the Public Sector Accounting Immersion Workshop, you will:

• Gain a comprehensive understanding of accrual accounting concepts, recognition, measurement, presentation and disclosure requirements.
• Analyze real-life accrual/cash basis accounting financial statements to enhance your practical understanding of accounting standards.
• Grasp the strategic implications of accrual accounting adoption and identify the key benefits for your organization.
• Evaluate the impact of the application of accrual accounting on your organization, including the effects on financial performance, reporting and budgeting.
• Develop insights into the practical implications and challenges of an accounting conversion project.
• Acquire best implementation practices and strategies for successful implementation of accrual accounting.
• Learn how to apply accrual accounting in practice, with hands-on training exercises and case studies.
• Identify new career opportunities in relation to public sector accounting, and increase your value as a financial professional.

Teaching methodology

The training program will employ a comprehensive and engaging approach to learning, designed to deliver maximum impact and retention. The methodology includes:

• A user-friendly slide deck that presents the concepts, methodologies, and principles in a clear and concise manner, making the material easily accessible to all attendees.
• Interactive sessions featuring real-life case studies to provide hands-on experience and bring the material to life.
• Explanations of concepts and methodologies through the use of examples and distinct scenarios, allow attendees to understand the material in context.
• Group exercises designed to illustrate accounting principles, encouraging collaboration, and fostering a deeper understanding of the material.
• Discussions on GAAP differences, industry issues, and diversity in practices provide attendees with a well-rounded understanding of the subject matter.
• Access to additional course material and handouts, ensuring attendees have a comprehensive reference resource to support their learning.
• An open and inclusive atmosphere that encourages attendees to ask questions and engage in discussion, ensuring a thorough understanding of the material.

The combination of these elements creates a dynamic and engaging learning experience that will support the professional development of all attendees.

Who should attend?

This course is designed for:

• Public sector senior executives: Chief Financial Officers, Finance Directors, Accountant General, Auditors General, etc.
• Practitioners involved in public sector accounting: accountants, auditors, finance and non-finance staff, budget officers, controllers, treasurers, etc.
• Public Sector accounting conversion project managers and experts, etc.
• Academics, accountancy students, etc. and any person who wants to develop a good understanding and working knowledge of the public sector accounting requirements and its challenges.

No matter your background or experience level, this workshop provides valuable knowledge and skills that will help you stay ahead in today’s global reporting environment. Join us today and gain the competitive edge you need to succeed.

Feedback

Upon completion of the course, all delegates will receive an evaluation questionnaire aimed at gathering valuable feedback. This feedback is crucial to Shasat’s ongoing commitment to improving the quality of its learning solutions. By analyzing the trends in the responses, we are able to continuously enhance and refine our offerings to meet the evolving needs of our clients.

Venue & other info

Our training programs take place at the most prestigious professional training facilities in the city. Our venues have been meticulously chosen and expertly crafted to deliver an unparalleled and sophisticated learning experience. To further elevate your training journey, we will offer an array of refreshments including gourmet tea/coffee, delectable snacks, and a sumptuous lunch to sustain you throughout the course. Your comfort and satisfaction are of the utmost importance to us.  One week before the program begins, you will receive comprehensive joining instructions that include the exact venue details.

Please note that accommodation arrangements are the responsibility of the attendee.

Workshop Delivery (Online Programs)

The workshop will be delivered via the WebEx platform. Upon registration, all participants will receive comprehensive joining instructions for the live workshop. This fully virtual event will encompass a live-streamed presentation, personalized networking opportunities, interactive Q&A sessions, engaging polls, and post-event consultation to address specific concerns and support your continued growth.
 

In-Person Workshop

Please be advised that for all in-person training programs, joining instructions will be sent via email to registered participants one week prior to the program’s commencement. These instructions will provide comprehensive information regarding the venue location, date, and time, as well as other important details such as parking arrangements, dress code, and any necessary equipment or materials. Kindly ensure that you carefully review the joining instructions and follow the guidelines provided to ensure a smooth and well-organized experience during the program.
 

Changes to the conference

Shasat reserves the right, at its sole discretion, to make modifications to the format, speakers, participants, content, venue location, program, or any other aspect of the conference, at any time and for any reason, without incurring any liability. This policy has been implemented due to recent events such as the Covid-19 pandemic and other jurisdictional restrictions. These modifications may include but are not limited to, changes necessitated by a Force Majeure Event
 

Sponsorship

We are pleased to offer sponsorship opportunities for our training programs, providing companies with a unique platform to showcase their brand and services to a highly engaged and relevant audience. By becoming a sponsor, your organization will have the opportunity to build brand awareness, demonstrate thought leadership, and cultivate valuable relationships with industry professionals. Our programs offer a platform to reach a targeted audience and generate new business leads while showcasing your expertise. The benefits of sponsorship include increased brand exposure, opportunities to connect with key decision-makers, and a platform to promote your products and services. We invite you to take advantage of this prime opportunity and partner with us to enhance your visibility and impact within the industry.
 

Terms and Conditions

We kindly request that you carefully review all of the terms and conditions outlined on our website. This information is critical in ensuring a clear understanding of our policies and procedures. Please follow the link provided to access this information.

About shasat

Discover more about Shasat by exploring our “About Us” page, where you can gain insights into our company’s mission, values, and history, and learn how we can help you achieve your goals.

Payment

Enroll in our program with ease by choosing from our secure online payment options. You can make a payment through our website using PayPal or Stripe, or opt for a bank transfer, demand draft, or cheque payment. Our payment page will provide all necessary options during checkout. If you encounter any issues, our customer service team is here to assist you. Simply reach out to us with your selected course, and we’ll guide you through the payment process.

We kindly request that you take into consideration any associated bank fees when making your course fee payment. To ensure your participation in the program, payment must be received before the course date. Once we have received both payment and a completed registration form, we will confirm your enrollment in the program. Thank you for your understanding and cooperation.

Group discount

Our company is proud to offer a group discount of 15% for organizations or individuals who book a course for 5 or more participants. To take advantage of this offer and receive a personalized group discount code, please reach out to our customer service desk at info@shasat.com. Our team will be delighted to assist you with the booking process and answer any questions you may have. With this group discount, you can invest in the professional development of your team and drive success for your organization. Don’t hesitate to contact us today to learn more.

CPD hours

Upon successful completion of the training course, each participant will receive a certificate of completion that attests to the number of hours spent in training and serves as a valuable representation of their dedication to professional development. The certificate is not only a symbol of their achievement but also serves as proof of continuous professional development (CPD) and demonstrates their commitment to staying current in their field. We believe that CPD is a crucial aspect of career advancement and personal growth, and are proud to provide our participants with this important document.

Enquiries

For further assistance, we invite you to contact our dedicated customer service team. Our experienced and knowledgeable representatives are available to answer any questions you may have and provide the support you need to make informed decisions. We are committed to ensuring that you have a positive experience and are here to help in any way we can. Please don’t hesitate to reach out to us at your convenience.

In-House Training

Enhance your team’s skills and drive success for your business with our custom In-house training program. Our tailored approach aligns with your specific business needs, offering a cost and time-efficient solution for upskilling your employees. This not only improves their productivity but also positions your company as a competitive force in the market. Transform your investment in employee development into tangible results by choosing our In-house training option. To discuss and learn more about our services, please don’t hesitate to contact our training desk. We’re ready to help you create a bespoke program that’s just right for you.