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What’s Different About Public Sector Accounting

  • Accountant
  • CPA (CA)
  • CFE
  • CGAP
  • CIA
  • CPA (US)
  • CA - ICAEW
  • IAP
  • QIAL
  • ACCA
  • CA - Ireland
  • CA - Scotland
  • CPA - Ireland
  • CFIRS
  • CWS

Published: September, 2021

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Before starting this self study program, please go through the instructional document.

  • Course Description
  • Course Qualification
  • Presenter
  • FAQ

Course Description

Overview

  • What do these standards apply to?
    23 mins
  • Objectives of government financial statements
    36 mins
  • Financial statements presentation
    47 mins
  • Learning about Non-financial assets
    63 mins
  • Reporting cash flow Indirect method
    80 mins

Course Description

The Public Sector Accounting Board of Canada (PSAB) issued standards and guidance with respect to matters of accounting in the public sector. The PSAB issues standards and guidance to serve the public interest by strengthening accountability in the public sector through developing, recommending, and gaining acceptance of accounting and financial reporting standards of good practice.

“Public Sector” refers to governments, government components, government organizations, and government partnerships. Each of these entities is a “public-sector entity”. 

PSAB standards apply to all public sector entities that issue general purpose financial statements. Such financial statements are designed to meet the common information needs of external users of financial information about a government.

This online CPE webinar provides the information needed to aid understanding and assessments of government financial operations and to promote accountability that extends beyond reporting surpluses and deficits. 

The government financial statements must provide information that describes:

  • Liabilities and financial assets, 
  • It’s nonfinancial assets that are available for use in providing future services, the cost of using its economic resources in the delivery of services, 
  • Information about investing and financing activities and potential assets and liabilities.


Come and find out what’s different about public-sector accounting. 

This online Accounting CPE webinar covers the following key topics:

  • What is different about financial reporting?
  • Specific financial statement items such as restricted assets and revenues, long-term debt, asset retirement obligations, etc.
  • Special reporting for government not-for-profit organizations.
  • Guidelines for government tangible capital assets.
  • Disclosure requirements.
  • Financial statement presentation.

Learning Objectives

  • To learn techniques and improvements in public-sector financial statement reporting.
  • To discuss the differences in accounting rules for public-sector entities.
  • To analyze the important steps in preparing a public-sector financial statement.
  • To develop strategies for dealing with unique public-sector accounting requirements.
  • To discuss best practices in public-sector disclosures and presentation.

Recommended For

  • This webinar is recommended for any Professional or Staff Interested in learning more about Government Accounting and Related Issues.

Who Should Attend?

  • Accountant
  • Accounting Firm
  • Accounting Practice Owners
  • Bookkeepers & Accountants & Tax Preparers
  • Certified Fraud Examiner
  • Certified Public Accountant (CPA)
  • CPA (Industry)
  • CPA - Mid Size Firm
  • CPA - Small Firm
  • Staff of Accounting Firm

Course Qualification

Webinar Qualifies For

  • 2 CPE Credit for Internal Audit Practitioner (IAP)
  • 2 CPD Credit for Chartered Professional Accountant (CPA Canada)
  • 2 CPE Credit for Certified Public Accountants (CPA-US)
  • 2 CPE Credit for Certified Internal Auditors (CIA)
  • 2 CPE Credit for Certified Government Auditing Professional (CGAP)
  • 2 CPE Credit for Certified Fraud Examiner (CFE)
  • 2 CPE Credit for Qualification in Internal Audit Leadership (QIAL)
  • 2 CE Credit for Certified Fiduciary & Investment Risk Specialist (CFIRS)
  • 2 CE Credit for Certified Wealth Strategist (CWS)
  • 2 General Credit for Accountant/Bookeeper
  • 2 CPD Credit for Chartered Accountants - Ireland (CAI)
  • 2 CPD Credit for CPA - Ireland
  • 2 CPD Credit for Chartered Accountants - Scotland
  • 2 CPD Credit for CA - ICAEW
  • 2 CPD Credit for Chartered Certified Accountants (ACCA)

Additional details

  • Course Level :
    Basic
  • Credits :
    2
  • Instructional Method :
    QAS Self Study
  • Pre-requisites :
    None
  • Advance Preparation :
    None

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MY-CPE LLC (Sponsor Id#: 143597) is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.NASBARegistry.org.

Presenter

About Presenter

Michel Morley

Founder, Mike Morley

Mike Morley is a Certified Public Accountant and a recognized authority in the field of finance with more than 25 years experience in finance, including SOX and IFRS implementation.

An entertaining and informative speaker and trainer, Mike is the author of:

“IFRS Simplified” which provides a jump start for accountants and finance executives who want to quickly and easily get up to date on IFRS.

 “Sarbanes-Oxley Simplified” which is an easy-to-read explanation of the requirements of the U.S. legislation that makes CEO's & CFO's personally responsible for the accuracy of their company's financial statements.

“Financial Statement Analysis Simplified” which translates the accounting language of financial statements into clear, easy-to-understand terms that anyone who needs to make well-informed financial decisions quickly will appreciate.

Faq

FAQs content

  • To receive Continuing Education credit for the event, you must register for the webcast prior to the start of each program.
  • Continuing Education Credit Certificate is available to all eligible participants within 24 hours of each webinar.
  • You must attend complete live webinar and respond to all polling questions asked during the webinar. Credits would be issued on 50 minute credit hour basis.
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  • This event may be a recorded rebroadcast of a live event done in past and the instructor will be available to answer your questions during/after the webinar.
  • If you still face the polling problem please don’t panic and provide your response in the chat and we shall consider the same for processing for credits. You can download Zoom by clicking on the mentioned link : https://zoom.us/download
  • Our courses meet the global Continuing Professional Development (CPD-IES7) Standard for Chartered Accountants with International Education Standard 7 (IES 7) set by The International Federation of Accountants (IFAC), the International Accounting Education Standards Board (IAESB) and the Association of Chartered Certified Accountants (ACCA). Based on our accreditation by existing IFAC members and affiliates, we believe learners can count their professionally relevant, verifiable learning activities on myCPE, including taking on demand courses and attending live webinars, toward fulfillment of their verifiable CPD-IES7 requirements. However, if there is any question, we recommend that the individual learner confirm with his/her professional licensing organization before taking myCPE courses for CPD-IES7 credit.
  • You can manage your continuing education certificates and credits through your certificate dashboard which is available when you are logged in to your account (LOGIN)
  • As an accredited provider of Continuing Professional Education in the United States, myCPE online learning platform, courses, and webinars meet the requirements set forth by the Institute of Management Accountants (IMA), an IFAC Member Organization, as well as the National State Boards of Accountancy (NASBA) and the Institute of Internal Auditors (IIA), both IFAC Affiliates. As well as it has been approved by NASBA, Internal Revenue Service (IRS), Certified Financial Planner Board (CFP Board), California Tax Education Council (CTEC), Society of Human Resource Professional (SHRM), Human Resource Certification Institute (HRCI) and many more.Therefore, we believe learners can count their professionally relevant, verifiable learning activities on myCPE, including taking on demand courses and attending live webinars, toward fulfillment of their verifiable continuing education requirement as CPD-IES7 requirements. However, if there is any question, we recommend that the individual learner confirm with his/her professional licensing organization before taking myCPE courses for CPD-IES7 credit.
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