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Interpretation and Application of IPSAS von Aggestam-Pontoppidan, Caroline (eBook)

  • Erscheinungsdatum: 30.11.2015
  • Verlag: Wiley
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Interpretation and Application of IPSAS

Clear, practical IPSAS guidance, explanation, and examples
Interpretation and Application of IPSAS provides practical guidance on the implementation and application of the International Public Sector Accounting Standards. This book brings readers up to date on the standards, and describes their proper interpretation and real-world application. Examples and mini-case studies clarify the standards' roles throughout, giving readers a better understanding of complex processes, especially where the IPSAS deviate from IFRS. Readers also gain insight into smoothly navigating the transition for a public sector entity, which is moving to either IPSAS under accrual basis of accounting or to cash accounting IPSAS, plus an overview of IPSAS adoption status and methods around the world.

Global public sector accounting is highly diversified, resulting in ongoing moves to harmonise standards worldwide. The IPSAS are international standards that largely follow the IFRS model, but differ in some key areas and include standards in places where IFRS has none. This book provides complete guidance to IPSAS, with clear explanation and expert insight.

Understand the meaning and role of each standard
Apply the standards to real-world scenarios
Manage the process of transition to IPSAS
These standards are meant to be followed by all public sector entities, including national and regional governments and local authorities. They've been adopted by the UN, NATO, the European Commission, and others, and either have been or soon will be adopted in Malaysia, Switzerland, Spain, and more.

Produktinformationen

    Format: ePUB
    Kopierschutz: AdobeDRM
    Seitenzahl: 464
    Erscheinungsdatum: 30.11.2015
    Sprache: Englisch
    ISBN: 9781119010302
    Verlag: Wiley
    Größe: 4089 kBytes
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Interpretation and Application of IPSAS

1 Introduction

International Public Sector Accounting Standards (IPSAS) are gaining increasing acceptance globally (see Table 1.1 for a full listing of all IPSAS). Public administrators are today encountering important challenges in reducing the distance between accounting systems within countries as well as across borders. This entails a move towards harmonization 1 of accounting practices in the public sector and thus requires choosing an appropriate set of accounting and financial reporting standards (see also Caperchione, 2015).

Table 1.1 Full listing of all IPSAS and IFRS "equivalent" as at 1 March 2015
IPSAS IFRS "equivalent" (if applicable) IPSAS 1-Presentation of Financial Statements IAS 1 IPSAS 2-Cash Flow Statements IAS 7 IPSAS 3-Accounting Policies, Changes in Accounting Estimates and Errors IAS 8 IPSAS 4-The Effects of Changes in Foreign Exchange Rates IAS 21 IPSAS 5-Borrowing Costs IAS 23 IPSAS 6-Consolidated and Separate Financial Statements 6 IAS 27 (replaced) IPSAS 7-Investments in Associates 7 IAS 28 (replaced) IPSAS 8-Interests in Joint Ventures 8 IAS 31 (replaced) IPSAS 9-Revenue from Exchange Transactions IAS 18 IPSAS 10-Financial Reporting in Hyperinflationary Economies IAS 29 IPSAS 11-Construction Contracts IAS 11 IPSAS 12-Inventories IAS 2 IPSAS 13-Leases IAS 17 IPSAS 14-Events after the Reporting Date IAS 10 IPSAS 15- (withdrawn) 9 IPSAS 16-Investment Property IAS 40 IPSAS 17-Property, Plant, and Equipment IAS 16 IPSAS 18-Segment Reporting IAS 14 (replaced) IPSAS 19-Provisions, Contingent Liabilities and Contingent Assets IAS 37 IPSAS 20-Related Party Disclosures IAS 24 IPSAS 21-Impairment of Non-Cash-Generating Assets N/A 10 IPSAS 22-Disclosure of Information about the General Government Sector N/A IPSAS 23-Revenue from Non-Exchange Transactions (Taxes and Transfers) N/A IPSAS 24-Presentation of Budget Information in Financial Statements N/A IPSAS 25-Employee Benefits IAS 19 IPSAS 26-Impairment of Cash-Generating Assets IAS 36 IPSAS 27-Agriculture IAS 41 IPSAS 28-Financial Instruments: Presentation IAS 32 IPSAS 29-Financial Instruments: Recognition and Measurement IAS 39 IPSAS 30-Financial Instruments: Disclosures IFRS 7 IPSAS 31-Intangible Assets IAS 38 IPSAS 32-Service Concession Arrangements: grantor N/A IPSAS 33-First-Time Adoption of Accrual Basis

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