PSAS - Update

Overview:

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 been implemented or will soon come into effect. Furthermore, this course 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 course will provide background information and examples to assist you to understand these changes.

This course is being offered to: 

• Improve general awareness of the changes to the PSA Handbook allowing you to better position yourself to plan for the changes and to advise others. 
• Provide real life examples and scenarios that will allow you to engage in meaningful discussions to help clarify concepts with the assistance of others.

Course Content:

In this course, you will gain knowledge about the following topics: 

• Overview of Upcoming Standards
  • The new Conceptual Framework
  • PS 1202 – Financial Statement Presentation
  • Employee benefits
• Update on current projects underway: 
  • Government not-for-profit strategy 
  • Intangibles and Cloud Computing Costs
• Overview of recently implemented standards
  • PS 3280 – Asset Retirement Obligations
  • PS 3160 – Public Private Partnership
  • PS 3400 – Revenue
• Other upcoming plans and emerging issues
  • PSAB’s 5-year plan, and current workplan
  • Potential PSA projects & emerging public sector issues including sustainability reporting
  • Summary of recent PSADG meetings since 2024 

Learning Objectives:

Upon completing this course, you should be able to: 

• Gain an overview of the new and pending PSAS sections with an understanding of how such standards relate to existing PSA Handbook sections
• Have greater awareness surrounding the current PSAB projects so you can decide what projects you may want to provide stakeholder feedback on to the PSAB and staff
• Walkthrough examples and exercises so the material can be used as a future resource when applying the standards in practice
• Be aware of emerging issues in public sector accounting and reporting, so that you can understand the impact to you, and provide feedback to PSAB on areas of interest

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.