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What you'll learn
Leases: Understand the definition, recognition criteria, and measurement (right-of-use model) of leases with practical examples for lessees and lessors.
Agriculture: Learn the definition, recognition criteria, and fair value measurement of biological assets and agricultural produce through practical examples.
Intangible Assets: Master the definition, recognition criteria, and measurement of intangible assets, including practical examples.
PPE: Gain knowledge of the definition, recognition criteria, and measurement (historical cost or current value model) of PPE, including depreciation and impairment, with practical examples.
Financial Assets: Understand the examples of the financial assets common in the public sector
Gratuity: Learn the recognition, measurement, and accounting treatment of gratuity obligations as employee benefits with practical examples.
Statement of Financial Position: Prepare and analyse a comprehensive statement of financial position incorporating all assets, liabilities, and net assets/equity in line with IPSAS requirements.
Course Description
- IPSAS 43 - Leases: This section covers the key principles of lease accounting under IPSAS, including the definition of a lease, recognition criteria for lessees and lessors, and the right-of-use measurement model, supported by practical public sector examples.
- IPSAS 27 - Agriculture: This section explains the accounting treatment for agricultural activities, focusing on the definition and recognition of biological assets and agricultural produce, together with their fair value measurement requirements.
- IPSAS 31 - Intangible Assets: This section addresses the recognition and measurement of intangible assets, including internally generated assets, under the cost and revaluation models, with practical illustrations of amortization and impairment.
- IPSAS 45 - Property, Plant, and Equipment: This section explores the accounting for property, plant, and equipment, covering definitions, recognition criteria, historical cost and current value measurement models, depreciation, and impairment through practical examples.
- Financial Assets: This section provides a clear understanding of the various types of financial assets found within the public sector.
- Gratuity: This section examines the accounting treatment of gratuity as an employee benefit, including recognition of the obligation, measurement of the liability, and presentation in the financial statements with practical scenarios.
- Statement of Financial Position: This section focuses on the preparation and analysis of a comprehensive statement of financial position, integrating various assets, liabilities, and net assets/equity in compliance with IPSAS requirements through detailed practical illustrations.
Course Content
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