This project is funded by the European Union

This project is funded by the European Union Ukraine 4 th Steering Committee Meeting Presentation of the 4 th interim report and action plan for the next reporting period Component 1 Nataliia Sushko, Public Finance Management and Accounting Expert Kyiv, 23 January 2020

This project is funded by the European Union Ukraine Component 1: Improving the Budgeting and Accounting Process at Local Government Sub-component 1. 2: Upgrading the Public Sector Accounting System

This project is funded by the European Union Ukraine Component 1, Sub-component 1. 2: Performance results Ø Documents prepared include: § Analytics on Deviations from Public Sector Accounting Standards and Recommendations for Improvement (Technical Annex 11) § Draft Budget Spending Guidelines (Technical Annex 12) Unit Income Accounting § Draft Budget Spending Unit Cost Accounting Guidelines (Technical Annex 13) The Guidelines were prepared as part of the Public Sector Accounting Modernization Strategy (Activity 4, Objective 1) and Public Finance System Reform Strategy (Activity 1, Objective 8)

This project is funded by the European Union Ukraine Component 1, Sub-component 1. 2: Performance results Ø Summary on property accounting and management at local government authorities, land record-keeping, stock-taking and transfer-making drawn up, and amendments to some public sector accounting regulations proposed (Technical Annex 14) Ø Preparation of the practical accounting and reporting guide for local budget spending units continued

This project is funded by the European Union Ukraine Component 1, Sub-component 1. 2: Performance results Ø Documents translated include: § Glossary of Defined Terms Used in IPSAS § Conceptual Framework for General Purpose Financial Reporting for Public Sector Entities § Eight IPSAS standards: IPSAS 1: Presentation of Financial Statements IPSAS 2: Cash Flow Statements IPSAS 14: Events After the Reporting Date IPSAS 18: Segment Reporting IPSAS 20: Related Party Disclosures IPSAS 22: Disclosure of Financial Information About the General Government Sector IPSAS 23: Revenue from Non-Exchange Transactions (Taxes and Transfers) IPSAS 24: Presentation of Budget Information in Financial Statements Implemented as part of the Public Sector Accounting Modernization Strategy (Activity 1, Objective 1)

This project is funded by the European Union Ukraine Component 1, Sub-component 1. 2: Performance results Ø Proposed amendments to National Public Sector Accounting Standards of Ukraine (based on IPSAS translation) prepared (Technical Annex 15) Ø Two accounting seminars arranged for local budget spending units by the Kyiv City Center for Retraining and Advanced Training of Civil Servants attended as part of cooperation with the partners

This project is funded by the European Union Ukraine Component 1, Sub-component 1. 2: Performance results Ø A two-day training course delivered for ATCs accounting office staff in Kyiv (Technical Annex 16) Ø Agreement reached with the ATC Association to place the training materials on the Association’s online platform to provide for online learning

This project is funded by the European Union Ukraine Component 1, Sub-component 1. 2: Plans Ø Preparation of analytical report on existing organizational structures of accounting services of public sector entities at different levels of local budgets and proposals for their improvement (А. 1. 2. 2, April 2020) Ø Completing the preparation of the practical accounting and reporting guide for local budget spending units (А. 1. 2. 3, May 2020)

This project is funded by the European Union Ukraine Component 1, Sub-component 1. 2: Plans ØCompleting the translation of IPSAS and other documents obtained from the Ministry of Finance of Ukraine as part of the Handbook of International Public Sector Accounting Pronouncements (Volume I-ІІІ) (А. 1. 2. 2, May 2020) Ø Preparation of transposition (comparative) tables on the compliance of national accounting provisions (standards) in the public sector with international standards, in particular IPSAS 18— Segment Reporting, IPSAS 12—Inventories, IPSAS 17 —Property, Plant, and Equipment, IPSAS 31 — Intangible Assets (А. 1. 2. 4, May 2020)

This project is funded by the European Union Ukraine Component 1, Sub-component 1. 2: Plans Ø Arranging and delivering accounting training courses for accounting officers of local budget spending units including those with the use of the online platform (А. 1. 2. 5, March 2020)

This project is funded by the European Union Ukraine THANK YOU FOR YOUR ATTENTION!