This specialized course equips students with essential knowledge and skills for financial reporting within the Canadian public sector. Delve into the intricacies of the financial framework that governs public sector organizations across Canada and master the art of preparing and understanding financial statements, including consolidated financial statements, in line with Canadian Public Sector Accounting Standards (PSAS). Explore the diverse financial accounting landscapes of municipal, provincial, and federal governments, as well as hospitals, colleges, and universities.

The course is open to those who have completed CIPFA’s Financial Accounting 101 and Business Reporting courses, hold a CPA or have 10 years of experience in accounting.

Embrace the challenge and elevate your Canadian financial reporting expertise with the Public Sector Financial Reporting module, the only one of its kind in Canada. Join us and become a proficient public financial professional ready to navigate the complexities of the Canadian public sector finance and accounting.

Through this comprehensive course, students will:

• Gain deep insights into why PSAS stands out among accounting standards and frameworks

• Discover how these standards are used nationwide and what they mean for your role as a public service finance professional

• Explore the nuances that set PSAS apart from other standards, including key similarities and differences with IFRS and IPSAS

• Master the most misunderstood and challenging PSAS standards

• Stay ahead with the latest standards updates and their impact on financial reporting

• Understand the complexities of public accounts and consolidation in various jurisdictions

48 hours of live virtual training with a PSAS Expert (3-hours twice per week for 8 weeks from September 9 to October 31)

Access to class recordings after each class

Office hours with access to the instructor to work through examples and exercises and ask questions

Learning material, including practice exercises and examples, recordings and examination available in both official languages

A full day revision course (November 8, 2024)

With the examination option*, you’ll be eligible to sit the proctored 3-hour final exam on December 2, 2024 (virtually - morning) and earn your certificate, CPD and credit towards the Canadian Public Finance Accreditation (CPFA).

*The final exam is sat globally on the same day on CIPFA’s ROGO examination platform and is made up of Objective Questions and preparation of financial accounts. One (1) exam sitting and one (1) exam re-sit are included in the price. Additional exam sitting will be at the additional cost of $210.00. Exams can be sat on set dates in June, September, December and March. 50% is required to pass the exam.

Classes

• September 9 to October 31, 2024

• Mondays & Thursdays, 10:00am - 1:00pm ET

• Full day revision class on November 8, 2024

Examination

• Proctored 3-hour exam on December 2, 2024

With Examination: $4,210 CAD + tax

Without Examination: $4,000 CAD + tax

Completed CIPFA’s Financial Accounting 101 course and CIPFA Business Reporting Course

OR

Hold a CPA designation

OR

Have 10 years of experience in accounting (not finance)

The course will support your ability to:

Apply the external financial reporting framework for public sector organizations in Canada, including the requirements for preparation of consolidated financial statements.

o   Critically evaluate the main characteristics of public sector organizations and the influences on their financial reporting

• Apply the requirements for consolidated financial statements in the Canadian government and broader public sectors

Understand the financial statements prepared by organizations in senior governments, local governments, and broader public sector entities in Canada

o   Discuss the role of accounting standards, legislation, regulations, and guidance in financial reporting for Canadian public sector organizations

o   Evaluate the financial statements that Canadian public sector organizations are required to prepare and publish

o   Evaluate the needs of the users of financial statements of Canadian public sector organizations

o   Analyze financial statements and other information aimed at assessing the performance of Canadian public sector organizations

Prepare financial statements for single-entity public sector organizations in Canada which includes the requirements of examinable PSAS and other sectoral regulations

o   Apply relevant standards to transactions and events including the information to be disclosed in financial statements

o   Apply examinable standards and other sectoral regulations to prepare financial statements

This course covers the following topics:

• Public Sector Accounting in Canada                  

• Public Sector Financial Statements                   

• Senior Governments                 

• Assets in the Public Sector                    

• Liabilities in the Public Sector               

• Revenue in the Public Sector                 

• Analyzing Public Sector Financial Statements

Course CPD Credits:

• Students are eligible to earn a minimum of 48 CPD credits for completing the course

• Students are also eligible to earn additional CPD and credit towards the Canadian Public Finance Accreditation (CPFA) upon successful completion of the course exam