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2.1. Practice Questions To Introduction To Ipsas

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Abuu Juda
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82 views1 page

2.1. Practice Questions To Introduction To Ipsas

Questions

Uploaded by

Abuu Juda
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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Download as DOCX, PDF, TXT or read online on Scribd
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THE INSTITUTE OF FINANCE MANAGEMENT

PUBLIC SECTOR REPORTING (ACU07423)

TUTORIAL QUESTIONS TO INTRODUCTION TO IPSAS


1. A prominent Politician has raised a motion that the Government should not succumb to
conditionalities from the development Partners that Developing countries should adopt
accrual-based accounting. He has maintained that the Legislature has a much more
stringent control under cash-based accounting system through budgetary process. Do
you agree with the Politician and why?
2. Why do you consider the harmonization of public sector accounting standards to be
important for any jurisdiction in the world?
3. Compare and contrast the roles of International Federation of Accountants (IFAC) and
International Public Sector Accounting Standards Board (IPSASB).
4. What would you consider to be the challenges for the adoption of accrual based public
sector accounting standard?
5. Why do you think has IPSASB come up with a Cash based IPSAS standard?
6. You have been assigned to a district authority which has been preparing receipts and
payment statement as its financial statements. The Accountant General has appointed
you to set up an accrual system for the District Council. Explain how you will go about in
establishing an accrual based public sector accounting system.
7. How does IPASB ensure that international public sector accounting standards which are
set by them are robust enough and command the highest respect worldwide.
8. Do you agree with the statement that, “All International public sector accounting
Standards (IPSAS) are mere replication of the international financial reporting
standards”? Why?

TUTORIAL QUESTIONS TO THE CONCEPTUAL FRAMEWORK FOR GENERAL PURPOSE


FINANCIAL REPORTING

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