IPSAS is an accounting standard that places ground rules on how organisations record economic transactions in their financial statements
IPSAS is replacing a 'modified cash' type of accounting
IPSAS will have a significant impact on how information is collected and reported in an organisation.
IPSAS will only have an affect upon the work of Finance and HQ personnel
A and B only
C and D only
None of the above - they all relate to 'modified cash' accounting instead.
All of the above
Reporting on an annual basis
Dual recording - reconciliation between the budget and the financial accounts
Later reporting of expenses in the purchase cycle
All personnel to assist with the collection of information and recording of transactions.
All of the above
Inventory (e.g. fuel, vaccines, food) will not need to be shown on the statement of financial position.
Project managers will need to revise their cash plans more often than under UNSAS.
All assets and liabilities are recognised.
Expenses and revenue are recognised on the basis of receipts.
Project managers will advise their staff to take their annual leave in the year it is accrued.
Project managers will re-budget their personnel using a new UNOPS pro-forma.
Projects will include advance payments in their client reporting.
UNOPS fees will remain the same.
Multi-year budget amounts must be split into annual amounts.
Variance analysis and an explanation of changes from the original to the final budget must be issue prior to, or at the same time as, the financial statements.
Reconciliation of the budget basis and the financial basis.
Changes to the budget basis and budget formulation.