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NOTE: This course description has been revised and reflects updates for 2022. If you have any questions, please contact firstname.lastname@example.org
As the Public Sector Accounting (PSA) Handbook continues to evolve at a rapid pace, users of public sector accounting standards may find it difficult to keep up. This course provides a review of sections in the PSA Handbook that have recently undergone addition or will soon come into effect. Furthermore, this seminar examines pending sections along with ongoing key projects and activities of the PSA Board. In order to relate the course to real life, the session will provide background information and examples to assist participants understand these changes.
This course is being offered to:
- Improve general awareness of the changes to the PSA Handbook allowing participants to better position themselves to plan for the changes and to advise others.
- Provide real life examples and scenarios that will allow participants to engage in meaningful discussions to help clarify concepts with the assistance of others.
Topics covered in this course include:
- PS 3280 – Asset Retirement Obligations
- PS 3160 – Public Private Partnership
- PS 3400 – Revenue
- PS 3450, PS 2601, PS 3041, PS 1201 - Financial Instruments Narrow Scope Amendments and related sections, including the use of the Statement of Re-measurement Gains and Losses and explanations.
- Update on current projects underway:
- A review and udpate of the conceptual framework and new reporting model
- Employee future benefits
- Governent not-for-profit strategy
- Annual Improvements update for most recent updates (if applicable)
- Review of other projects in progress and how the impact may play out
- Potential PSA projects & emerging public sector issues
- Summary of recent PSADG meetings since 2021
This is an online, on demand session that is available 24 hours a day, seven days a week. Once registered, you can access the course material for a 30-day period.
By the end of this course, participants should be able to:
- Describe an overview of the new and pending PSAS sections with an understanding of how such standards relate to existing PSAS Handbook sections.
- Understand the current PSAB projects so partipants can decide what projects they may want to provide stakeholder feedback on to the PSAB and staff.
- Apply the standards in practice.
Professionals working in or serving local governments, senior governments, crown corporations and agencies or other public sector entities
Participants should have either taken PSAS – Review of the Standards or have a general working knowledge of existing Public Sector Accounting Standards (PSAS).