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IPSAS Explained: A Summary of International Public Sector Accounting Standards, 2nd Edition

Book Description

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.

Table of Contents

  1. Title
  2. Copyright
  3. Foreword
  4. Abbreviation
  5. Chapter 1: Introduction: General information about IPSASs and the IPSASB1
    1. 1 The International Public Sector Accounting Standards Board
    2. 2 International accounting standards for the public sector
    3. 3 Measurement bases in accordance with IPSASs
  6. Chapter 2: Impact of the global financial crisis and the sovereign debt crisis on public sector accounting
    1. 1 Context of the global financial crisis 2008—2009
    2. 2 Accounting issues relating to public sector interventions
    3. 3 The sovereign debt crisis
  7. Chapter 3: Overview of accrual basis IPSASs
    1. IPSAS 1: Presentation of Financial Statements
    2. IPSAS 2: Cash Flow Statement
    3. IPSAS 3: Accounting Policies, Changes in Accounting Estimates and Errors
    4. IPSAS 4: The Effects of Changes in Foreign Exchange Rates
    5. IPSAS 5: Borrowing Costs
    6. IPSAS 6: Consolidated and Separate Financial Statements
    7. IPSAS 7: Investments in Associates
    8. IPSAS 8: Interests in Joint Ventures
    9. IPSAS 9: Revenue from Exchange Transactions
    10. IPSAS 10: Financial Reporting in Hyperinflationary Economies
    11. IPSAS 11: Construction Contracts
    12. IPSAS 12: Inventories
    13. IPSAS 13: Leases
    14. IPSAS 14: Events after the Reporting Date
    15. IPSAS 15: Financial Instruments: Disclosure and Presentation
    16. IPSAS 16: Investment Property
    17. IPSAS 17: Property, Plant and Equipment
    18. IPSAS 18: Segment Reporting
    19. IPSAS 19: Provisions, Contingent Liabilities and Contingent Assets
    20. IPSAS 20: Related Party Disclosures
    21. IPSAS 21: Impairment of Non-Cash-Generating Assets
    22. IPSAS 22: Disclosure of Information About the General Government Sector
    23. IPSAS 23: Revenue from Non-Exchange Transactions (Taxes and Transfers)
    24. IPSAS 24: Presentation of Budget Information in Financial Statements
    25. IPSAS 25: Employee Benefits
    26. IPSAS 26: Impairment of Cash-Generating Assets
    27. IPSAS 27: Agriculture
    28. IPSAS 28: Financial Instruments: Presentation
    29. IPSAS 29: Financial Instruments: Recognition and Measurement
    30. IPSAS 30: Financial Instruments: Disclosures
    31. IPSAS 31: Intangible Assets
    32. IPSAS 32: Service Concession Arrangements: Grantor
  8. Chapter 4: Overview of current Exposure Drafts
    1. IPSAS ED 46: Recommended Practice Guideline: Reporting on the Long-Term Sustainability of a Public Sector Entity's Finances
    2. IPSAS ED 47: Financial Statement Discussion and Analysis
  9. Chapter 5: Cash Basis IPSAS
    1. Cash Basis IPSAS: Financial Reporting Under the Cash Basis of Accounting
  10. Further Reading