Chapter 6 Section 6 5 First time adoption of accrual IPSAS PSAR 2

CPFM PSAR 2 (Public Sector Accounting and Reporting), Chapter 6, section 6.5: first-time adoption of accrual IPSAS under IPSAS 33. The four matters every entity works through, the reliefs (up to three years, deemed cost), Kenya's phased move to accrual, then four exam questions worked step by step. The four matters in order: the date of adoption, the opening statement of financial position, the reliefs, the transition disclosures; transition adjustments go to opening net assets IPSAS 33 reliefs: up to three years to recognise and measure, deemed cost where there is no cost record, and no claim of full compliance until a relief ends; Kenya's roadmap from 2024/25 to 2026/27 August 2026 Q5(d), April 2026 Q5(d), December 2025 Q4(a) and an applied question on a 960 million building and land with no cost records Timestamps 0:00 Welcome 0:41 From counting cash to owning and owing 1:37 Matter one: the date and the opening statement 2:21 Matter two: policies, recognition and measurement 3:17 Matter three: the reliefs, three years and deemed cost 4:46 Matter four: the transition disclosures 5:32 Kenya's move to accrual, 2024 to 2027 6:22 Four matters, one after the other 6:49 Three slips first-time adopters make 7:21 Question 1: August 2026, Q5(d), 2 marks 7:54 Question 1: two matters 8:30 Question 2: April 2026, Q5(d), 4 marks 8:57 Question 2: the four matters 9:42 Question 3: December 2025, Q4(a), 4 marks 10:07 Question 3: two challenges, a strategy each 10:59 Question 4: a state agency's land and building 11:30 Question 4: deemed cost and the three-year relief 12:31 The whole transition in three lines More at https://learnipsas.com If this helped you, please subscribe and share it with your colleagues and classmates. #IPSAS #PublicSectorAccounting #CPAYussuf