PSAS Update: 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. Finally, there is a look at emerging issues in public sector accounting and potential future projects. 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.

LEARNING OUTCOMES

• Provide participants with an overview of the new and pending PSAS sections with an understanding of how such standards relate to existing PSAS Handbook sections.
• Create awareness surround the current PSAB projects so partipants can decide what projects they may want to provide stakeholder feedback on to the PSAB and staff.
• Walkthrough examples and exercises with the participants so the material can be used as future resource when applying the standards in practice.
• Make participants aware of emerging issues in public sector accounting and reporting, so that they can understand the impact to them, and provide feedback to PSAB on areas of interest.

CONTENT

Overview of recently issued or new standards:

• 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.
• The new conceptual framework.

Update on current projects underway:

• A review of the new reporting model and related changes.
• Employee future benefits.
• Government not-for-profit strategy.

• Annual Improvements update for most recent updates 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 20211. 

PREREQUISITES 

• PSAS – Review of the Standards, or
• General working knowledge of existing PSA standards.

WHO WILL BENEFIT 

Professionals working in or serving local governments, senior governments, crown corporations and agencies, first nations or other public sector entities or auditors of these entities.

Instructor: Justin Melnyk & Dana Jasper

Register here.