Public Sector - IFRS in the Public Sector – NEW

What will I get out of it?
• an appreciation of the background to the change to IFRS in Central Government
• identification of the key standards that need to be considered in the changeover
• understanding of the key differences in these standards compared to previous UK GAAP
• examples of practical problems and solutions that have arisen so far.

Key features
• the nature of IFRS and their application to Central Government
• the timetable for changeoverincluding the impact of the deferral to 2009/10
• the IFRS shadow accounts to be prepared for 2008/9
• the IFRS based Financial Instruments Standards being implemented under UK GAAP for 2008/9
• the key Standards, including
– non current assets (IAS 16, 36, 38, IFRS 5 and SIC–32)
– leasing (IAS 17, SIC 15 and IFRIC 4)
– service concessions/PFI (IFRIC 12)
– financial instruments (IAS 32, 39 and IFRS 7)
– employee benefits (IAS 19)
– disclosures (IAS 24, IFRS 8)
- the changeover (IFRS 1)
• the changes to resource accounts (department yellow) and equivalent changes for agencies and NDPBs
• practical examples of how the various issues have been resolved.

Who should attend?
Those involved in the preparation of Central Government Accounts, including Agencies, Trading Funds and NDPB’s

Lecturer
Charles Gubbins BSc CA, Associate, Kaplan Financial