Introduction

Accrual basis accounting plays a crucial role in enhancing the transparency, accountability, and efficiency of public and private sector financial reporting. Many organizations worldwide are shifting from cash-based accounting to accrual-based systems to better align with international standards such as IPSAS. This transition, however, involves a comprehensive understanding of new concepts, processes, and reporting structures.

This 5-day workshop offers participants a guided path toward understanding and applying accrual basis accounting. By learning how to recognize revenues and expenses when they are earned or incurred—rather than when cash is received or paid—participants will gain the ability to present a more accurate picture of an organization's financial performance and position.

The course is designed to deliver practical, real-world tools and methodologies that support a smooth transition. Through clear instruction, applied learning, and discussion of case studies, attendees will explore the critical changes in policies, systems, and procedures needed for successful implementation.

Workshop in Transition to Accrual Basis Accounting Course Objectives

• Understand the fundamental principles of accrual basis accounting.
• Learn how to assess current cash-based systems and prepare for transition.
• Explore the International Public Sector Accounting Standards (IPSAS) and their relevance.
• Develop strategies for effective change management during the transition.
• Acquire practical knowledge to revise chart of accounts, financial statements, and reporting structures.
• Analyze case studies of successful transitions from public and private sectors.

Course Methodology

The course combines instructor-led presentations, interactive discussions, case studies, and hands-on exercises to promote a practical understanding of accrual accounting.

Who Should Take This Course

• Finance and accounting professionals
• Internal and external auditors
• Public sector accountants and policymakers
• Professionals responsible for financial reporting
• Managers involved in accounting system reforms

Workshop in Transition to Accrual Basis Accounting Course Outlines

Day 1: Understanding Accrual Accounting Fundamentals

• Key differences between accrual and cash accounting
• Importance and benefits of accrual basis accounting
• Core concepts: revenues, expenses, assets, and liabilities
• Recognizing the financial position vs financial performance

Day 2: Preparing for the Transition

• Assessing the current accounting framework
• Identifying gaps and challenges in cash-based systems
• Planning the roadmap for transition
• Organizational readiness and stakeholder engagement

Day 3: IPSAS and International Frameworks

• Overview of IPSAS and their global adoption
• Core IPSAS standards relevant to accrual accounting
• Implementing IPSAS-compliant financial statements
• Integration of IPSAS with existing national standards

Day 4: System and Policy Adjustments

• Updating chart of accounts to support accrual-based reporting
• Designing new accounting policies and procedures
• Software and systems: choosing and customizing ERP solutions
• Budgeting and forecasting under accrual systems

Day 5: Implementation Strategies and Case Studies

• Step-by-step approach for implementation
• Risk mitigation and managing resistance to change
• Monitoring and evaluation tools
• Real-life examples and case studies of successful transitions

Conclusion

By successfully completing the "Workshop in Transition to Accrual Basis Accounting" with Gentex Training Center, participants will acquire the skills and knowledge to understand, plan, and implement accrual-based accounting systems effectively. The course ensures that professionals are better equipped to support financial transparency, enhance reporting standards, and align with international accounting practices in their organizations.