Global diversity in the practice of public sector accounting continues to impede the reduction of bureaucracy and the creation of comparable standards in terms of accountability and transparency. The International Public Sector Accounting Standards Board (IPSASB) continues to engage in the ongoing process of harmonizing public sector accounting with their International Public Sector Accounting Standards (IPSASs). IPSAS Explained: A Summary of International Public Sector Accounting Standards, Second Edition provides up to date information on the Conceptual Framework Project and other projects related to IPSASs, along with details of all the current IPSASs, including newly approved standards of the Board, especially those relating to financial instruments, intangible assets and service concession arrangements from a grantor perspective. Each IPSAS is distilled into a useful and accessible summary, and illustrated with graphs, figures and tables. Beyond that the book focuses on the current sovereign debt crisis and discusses possible implications for public sector financial management. Through an examination of the objectives of the standards and an overview of the principles relevant to key topics such as the accrual basis of accounting as against cash basis, fair value, present value, cost, and measurement bases, IPSAS Explained provides decision-makers in the public sector with a thorough grounding on the IPSASs and the operations of the IPSASB. Thomas Müller-Marqués Berger (Stuttgart, Germany) is a partner at Ernst & Young GmbH and currently serves as the firm's Global Leader of International Public Sector Accounting. Thomas has been a member of the International Public Sector Accounting Standards Board (IPSASB) since January 2009, with his term recently being renewed until the end of 2014. Before joining the IPSASB, he was a member of the IFAC Public Sector Steering Committee on Social Policy Obligations, a subgroup of the IPSASB, during 2003 and 2004. He has also been a member of the FEE Public Sector Committee (European Federation of Chartered Accountants) since 2003, and was appointed Chair in January 2012. At a national level, he has been a member of the German Public Sector Committee at the German Institute of Chartered Accountants (Institut der Wirtschaftsprüfer in Deutschland (IDW)) for almost 10 years.
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