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IPSAS 24 - Presentation of budget information in the financial statements

Enrollment in this course is by invitation only

About This Course

IPSAS 24 applies to government entities that are required to present budget information in their financial statements. The standard requires to make a comparison and to provide explanations for material differences between approved budget and actual information. Compliance with the requirements of the standard ensures that public sector entities discharge their accountability obligations and enhance the transparency of their financial statements by demonstrating compliance with the approved budget for which they are held publicly accountable and, where the budget and the financial statements are prepared on the same basis, their financial performance in achieving the budgeted results.

This module aims to provide participants with a thorough understanding of the requirements of IPSAS 24, including the following areas:

- Defining the terminology relating to budgets e.g. the original, approved and final budgets.

- Comparing the budgeted and actual amounts.

- Dealing with changes between the original and final budgets.

- The disclosure requirements relating to budgets, including the budgetary basis, period and scope.

- Reconciliation of actual amounts on a comparable basis with actuals in the financial statements.

Who should enrol for this course

It is recommended for those individuals who require a high level overview and awareness of the core IPSAS accruals based standards including:

- finance and accounting managers of public sector entities that have adopted IPSASs or are in the process of doing so

- accounting practitioners, consultants and external auditors, analysts of public sector entities

- accountants and finance staff of public sector entities and similar agencies (e.g. the World Health Organisations, the World Bank, the UN) that have adopted IPSASs or are in the process of doing so

- accountants and finance staff moving from private to public sector environments

- government officials and project managers responsible for IPSAS transition

- operations managers of public entities needing an awareness of public sector financial reporting

- internal auditors of entities that have adopted IPSAS or are in the process of doing so.

Course Staff

Course Staff Image #1

George Ducharme (CA) SA

George was previously an academic, teaching financial accounting to students at a post graduate level in preparation for the qualifying exam for South African chartered accountants for a period of eleven years. His last position was Professor and subject head of Financial Accounting at the University of the Western Cape (UWC). He became a Professor at the age of 30. During his tenure at the UWC his students obtained a pass rate better than those of their peers studying at other universities, in the qualifying exam for chartered accountants. He left the university to start Ducharme Consulting at the end of 2002 and has been consulting to the Public Sector on a full time basis since 2002. George sits on the South African Accounting Standards Board Public Sector Technical Forum, a body which meets on a monthly basis to discuss the latest Public Sector accrual accounting implementation issues. The other members of this forum are representatives from SAICA, the office of the Accountant General of the National Treasury, the Auditor General SA, the Accounting Standards Board, Institute for Municipal Finance Officers (IMFO) and the big 4 Audit Firms. He has extensive experience in the preparation of implementation plans to implement GRAP, IPSAS and GAMAP,compilation and reviewing of public sector annual financial statements, first time IPSAS and GRAP adoption support, technical accounting support to public sector entities and the provision of technical opinions on IPSAS and GRAP accounting implementation.

You can contact George on: gducharme@ducharmeconsulting.co.za

Course Staff Image #2

Margott Terblanche (CA) SA

Margott provides advisory and training support through delivery and facilitation of training courses for various reporting frameworks, including Accrual Accounting, First-time adoption of IPSASs, Modified Cash Accounting, GRAP and IFRSs as well as practical solutions through assisting clients with applying the theoretical concepts to their financial reporting processes. She has been involved in developing training material for and presenting training on Reporting frameworks (IFRS, GRAP, IPSAS and Modified Cash Standards). She has over 10 years training experience to both private and public sector learners in the UK and South Africa, including delivering training to learners of professional accounting bodies such as the Institute of Chartered Accountants of England and Wales (ICAEW), the Institute of Chartered Accountants of Scotland (ICAS), the Association of Certified Chartered Accountants (ACCA), the Chartered Institute of Management Accountants (CIMA) and the Association of Accounting Technicians (AAT).

You can contact Margott on: mterblanche@ducharmeconsulting.co.za

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Christoph Braxton (CA) SA

Christoph has extensive experience in the provision of accounting technical support to clients including the provision of technical guidance on the transition from SA GAAP to Generally Recognised Accounting Practice (GRAP) and the application of GRAP; the technical preparation or review of the annual financial statements in accordance with GRAP; and the development of standard templates and frameworks for compliance. He has also performed reviews of and provided guidance on the application International Financial Reporting Standards (IFRS) at Universities as well as the Modified Cash Standard (MCS) at departments. Due to his exposure to GRAP, he is also proficient in the application of International Public Sector Accounting Standards (IPSAS).

You can contact Christoph on: cbraxton@ducharmeconsulting.co.za

Course Staff Image #2

Anton Slabbert (CA) SA

Anton has also been involved extensively in developing training material for and presenting training on SA GAAP, GRAP, IPSAS, IFRS, IAS, Budgeting, Auditing, Asset Management, Modified Cash Accounting, Risk Management and Financial Management since 2006. This includes GRAP/ GAMAP training for IMFO (Institute of Municipal Finance Officers), Provincial Treasury WC and MP, National Treasury, Auditor General (SA), Municipalities, Government Departments, Public Entities and the University of Stellenbosch (USB-ED and for the School of Public Leadership). He sits on the South African Accounting Standards Board (ASB) Public Sector Technical Forum, a body which meets on a regular basis to discuss the latest Public Sector accrual accounting implementation issues. The other members of this forum include representatives from amongst others, SAICA, the office of the Accountant General of the National Treasury, the Auditor General SA, the ASB, the Institute for Municipal Finance Officers (IMFO). Anton is also one of only a few people who is involved with the Sout African Institute of Government Auditors, providing training to SAIGA students, setting and marking the qualifying exams for qualifying as Registered Government Auditors (RGA's).

You can contact Anton on: aslabbert@ducharmeconsulting.co.za

  1. Course Number

    IPSAS24
  2. Classes Start

    Dec 01, 2017
  3. Classes End

    Dec 31, 2018