ACCA certificate in international public sector Accounting standards
ACCA certificate in international public sector Accounting standards: IPSAS® have been developed to enhance the quality, consistency and transparency of public sector financial reporting worldwide. Issued by the International Public Sector Accounting Standards Board (IPSASB), they are cash-based standards and accruals standards used for the preparation of general purpose financial statements by governments and other public sector entities around the world.
The ACCA Certificate in International Public Sector Accounting Standards – known as Cert IPSAS – has been specifically developed to help you meet the challenges of implementing IPSAS by:
- examining the fundamental requirements of accrual-based IPSAS on a standard-by-standard basis, for the benefit of preparers, auditors and users of financial statements
- providing guidance on how to use IPSAS in practice, with the aid of cases, interactive exercises and formative questions
- explaining the difference between the cash basis IPSAS and accrual-based IPSAS
- providing an overview of how IPSAS are used around the world
- explaining the workings of the IPSASB and how these are developing.
Who is it for?
Cert IPSAS will be relevant to your finance professionals if your organisation is using or about to implement IPSAS ®, or if your employees are working with clients who are using or about to use IPSAS ® . It’s perfect for helping employees with a background in financial reporting to meet the challenges of implementing IPSAS ®, providing a practical and introductory knowledge of these standards and how they are interpreted and applied. It’s been prepared for:
- public sector employers and employees globally
- accountants working or wishing to work in the public sector
- learning providers
- national and local governments
- policy makers specialising in the public sector
- international donors.
If your employees already have a professional accountancy qualification, this qualification can be a valuable source of CPD – offering an opportunity to top up existing competencies with specific technical knowledge and skills around IPSAS ® . If your employees do not hold a professional accountancy qualification, it offers them the opportunity to gain formal recognition of their IPSAS ® knowledge and skills. It is recommended that an educational or vocational background in financial reporting is gained before starting on Cert IPSAS.
How does it work?
The Cert IPSAS includes both an online course and a test. The online course includes all the study materials your employees will need, although candidates will benefit from having a copy of the International Public Sector Accounting Standards Board (IPSASB) 2016 Handbook of International Public Sector Accounting Pronouncements. You can find the handbook at www.ifac.org
If your employees already using IPSAS ® at work and want formal recognition of their skills, they can apply to only take the online Cert IPSAS assessment. If they don’t need certification, but want extra knowledge in the field, they can choose the course only. You can apply online at any time. When you pay by credit card, you’ll get access to the online course and assessment for twelve months.
Typically, a candidate should take 20 hours to work through the course. Studying for another qualification as an ACCA member can count towards their continuing professional development (CPD). The certificate is assessed by a one hour exam with multiple-choice questions. There are 25 multiple-choice questions based on the syllabus. The candidate is required to answer 13 questions correctly.
The fee covers three attempts to take the assessment. But they must be taken within three months of accessing the online course. If candidates don’t pass after three attempts, another registration fee needs to be paid to attempt the assessment again, which gives a further three attempts to pass.
ACCA certificate in international public sector Accounting standards : About ACCA
Founded in 1904, the Association of Chartered Certified Accountants (ACCA) is the global professional accounting body offering the Chartered Certified Accountant qualification (ACCA or FCCA). From June 2016, ACCA recorded that it has 188,000 members and 480,000 students in 178 countries. ACCA’s headquarters are in London with principal administrative office in Glasgow. ACCA works through a network of 100 offices and centres and more than 7,100 Approved Employers worldwide, who provide employee development.
The term ‘Chartered’ in ACCA qualification refers to the Royal Charter granted in 1974.
Chartered Certified Accountant is a legally protected term. Individuals who describe themselves as Chartered Certified Accountants must be members of ACCA and if they carry out public practice engagements, must comply with additional regulations such as holding a practising certificate, carrying liability insurance and submitting to inspections.
The Association of Authorised Public Accountants (AAPA), one of the British professional bodies for public accountants, has been a subsidiary of ACCA since 1996.
ACCA works in the public interest, assuring that its members are appropriately regulated. It promotes principles-based regulation. ACCA actively seeks to enhance the value of accounting in society through international research. It takes progressive stances on global issues to ensure accountancy as a profession continues to grow in reputation and influence.
ACCA certificate in international public sector Accounting standards : HISTORY ABOUT ACCA
Key dates in ACCA history include:
- 1930: London Association of Accountants successfully campaigns for the right to audit companies.
- 1933: London Association of Accountants renamed London Association of Certified Accountants.
- 1939: Corporation of Accountants (Scottish body, founded 1891) merges with London Association of Certified Accountants to become the Association of Certified and Corporate Accountants.
- 1941: Institution of Certified Public Accountants (founded 1903, and incorporating the Central Association of Accountants from 1933) merges with Association of Certified and Corporate Accountants.
- 1971: Association of Certified and Corporate Accountants renamed Association of Certified Accountants.
- 1974: Royal Charter Queen Elizabeth II.
- 1974: ACCA becomes one of six founding members of the Consultative Committee of Accountancy Bodies (CCAB).
- 1977: ACCA becomes a founding member of the International Federation of Accountants (IFAC).
- 1984: Association of Certified Accountants renamed Chartered Association of Certified Accountants.
- 1995: ACCA members vote at an extraordinary general meeting to rename itself Association of Chartered Public Accountants and to introduce the designation Chartered Public Accountant. The Privy Council subsequently rejected this proposal over concerns about the term “public”. It did however agree that any accountancy body bearing a royal charter could use “chartered” as part of its designation.
- 1996: Chartered Association of Certified Accountants renamed Association of Chartered Certified Accountants. Members become entitled to use the title Chartered Certified Accountant (Designatory letters ACCA or FCCA). The Association of Authorised Public Accountants became a subsidiary of ACCA. The group earned its first Queen’s Award, for Export Achievement
- 1998: ACCA’s syllabus formed the basis of the United Nations’ global accountancy curriculum titled Guideline on National Requirements for the Qualification of Professional Accountants, published in 1999. ACCA was a participant in the consultative group that devised this global Benchmark.
- 2001: ACCA received a Queen’s Award for Enterprise in International Trade, recognising ACCA’s growth and its role in 160 countries worldwide.
- 2002: ACCA received its second Queen’s Award for Enterprise in the space of 12 months, in the Sustainable Development category. The award recognized ACCA’s continuing work on social and environmental issues.
- 2009: ACCA members allowed to provide probate services as of 1 August under Probate Services (Approved Bodies) Order 2009 Number 1588.
- 2011 to 2012: ACCA is the first accountancy body to publish an integrated report
- 2014: ACCA members and student numbers reach 600,000 worldwide.
- 2015: ACCA launches M.Sc. in Professional Accountancy with the University of London (UCL)
ACCA certificate in international public sector Accounting standards
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