Public sector financial reporting and accounting course

Focus on the practical application of PSAB standards in real-life government situations.

Event Details

Location and date:
Edmonton October 31 - November 2, 2016

Each module in this two-and-half-day course consists of a technical lecture followed by either case studies or short exercises and an opportunity for smaller group discussions. Case studies are designed to illustrate the application of concepts and information learned in the lecture.

View the agenda

Additional options and pricing may be available. See pricing and registration for more details.



$995.00 (2 days) or $1,395.00 (3 days)

Up to 18 CPD hour(s)
Pricing & registration

You will learn about:

Days one and two:

  • financial statement presentation (net-debt model)
  • revenues
  • capital assets and related topics
  • government transfers
  • comprehensive integrated case study
  • liability for contaminated sites 
  • foreign currency translation 
  • emerging issues

Day three (optional additional half-day):

  • consolidations
  • financial instruments
  • employee future benefits

Who should attend?

This is for accounting professionals in organizations that use standards issued by the Public Sector Accounting Board (PSAB).

More Details:

Session Descriptions

Registration and Continental breakfast

Module I: Introduction
This module provides an overview of the CPA Canada Public Sector Accounting (PSA) Handbook standards, describes PSA concepts and principles and summarizes the application of PSA standards. The module includes discussions of the definitions of the components of a financial statement in accordance with PSA standards.

Module II: Financial statement presentation (net-debt model)
This module addresses the requirements for financial statement presentation under the PSA Handbook. Differences from financial statement presentation under the CPA Canada Handbook -Accounting will be highlighted.

Coffee break

Module III: Revenues (lecture)
This lecture covers the PSA Handbook guidance on Revenue (such as PS 1000 - Financial Statement Concepts, PS 1201 - Financial Statement Presentation) and the application of principles outside primary sources of GAAP to transactions, providing an understanding of basic revenue recognition criteria. PS 3100 - Restricted Assets and Revenues is also addressed in this module.

Buffet lunch

Module III: Revenues (case studies)
Case studies: focusing on revenue versus cost recovery and one that addresses revenue recognition.

Module IV: Capital assets and related topics (lecture)
This module focuses on measurement issues related to tangible capital assets in accordance with PS 3150 - Tangible Capital Assets and PSG 2 - Leased Tangible Capital Assets. It addresses why tangible capital assets are recorded and how, including what disclosures are important.

Coffee break

Module IV: Capital assets and related topics (case studies)
Case studies: focusing on the identification of eligibility for capitalization, amortization application, the treatment of subsequent valuations, impairment and disposals.

Continental breakfast

Module V: Government transfers (lecture)
This module addresses the revised PS 3410 – Government Transfers and focuses on when to recognize a transfer, how to distinguish the main types of transfers and how to account for them. The perspective of both the transferring government and the recipient are considered along with capital contributions.

Break

Module V: Government transfers (case studies)
Case study 1: Identification of transfer type; recognition; accounting versus appropriation
Case study 2: Transfer to industry
Case study 3: Conditional and unconditional repayments

Buffet lunch

Module VI: Liability for contaminated sites (lecture and case study)
This module covers the new standard on Liability for Contaminated Sites (PS 3260) and scope considerations. Also addressed in this module are the recognition, measurement and disclosure requirements under PS 3260.

Case study 1: Recognition and measurement of liability for contaminated sites

Break

Module VII: Emerging issues
This module addresses new or revised standards such as PS 2601 – Foreign Currency Translation and also covers projects underway with the Public Sector Accounting Board.

Continental breakfast

Module VIII: Consolidation
This module addresses when to consolidate under the PSA Handbook using the indicators of control. Although, definitions of “control” between the PSA Handbook and the CPA Canada Handbook - Accounting are similar, this module provides an understanding of why differences occur upon application of the principles within the underlying standards.

Module IX: Financial instruments
This module addresses the categories, the measurement and the presentation requirements for financial instruments under the PSA Handbook. The significant differences between the reporting of financial instruments under the CPA Canada Handbook - Accounting and the public sector requirements will be highlighted.

Coffee break

Module X: Employee future benefits
This module presents the types of retirement benefit plans, measurement and recognition under the PSA standards, focusing on differences from the CPA Canada Handbook - Accounting requirements. It will also cover key aspects of post-employment benefits and compensated absences, and highlight additional liabilities recognized under the PSA Handbook.

Buffet lunch and course conclusion

Venue[s] and Accommodation[s]

Venue[s]:

Coast Edmonton Plaza Hotel
10155 105 St., Edmonton, AB T5J 1E2
t.:780-423-4811


Contacts

Please contact:

Member Development and Support
Tel: 1-888-337-3242
Email: pld@cpacanada.ca

Brittany King, program coordinator
Tel: 416-204-3306
Email: bking@cpacanada.ca