Ipsasb conceptual framework pdf files

Ipsasb overview of the conceptual framework youtube. The jicpa submitted comments on the consultation paper of conceptual framework for general purpose financial reporting by public sector entities. Pdf international public sector accounting standards ipsas. International public sector accounting standards board.

The ipsasb is monitoring progress on that project and lead authors of ipsasb project components liaise with their iasbfasb counterparts. The conceptual framework for general purpose financial reporting by public sector entities. Role and authority of the conceptual framework role concepts underpinning general purpose financial reporting accrual basis. Ipsasb s projects, including views on key technical issues or matters that may impede the adoption or effective implementation of ipsas. The ipsasb already has a heavy work program and additional projects are being considered for inclusion on the active work program from 2007. Ifass ipsasb update first time adoption of accrual basis ipsass. The conceptual framework provides the ipsasb with the concepts that will underpin the development of international public sector accounting standards ipsas. Conceptual framework for private sector business entities that is being closely monitored by the ipsasb.

The conceptual framework for general purpose financial. The conceptual framework concept s guide how the ipsasb addresses finan cial reporting issues. The ipsasb s conceptual framework is not an ifrs convergence project, and the purpose of the ipsasb s project is not to interpret the application of the iasb framework to the public sector. The following sections highlight characteristics of the public sector that the ipsasb has considered in the development of the conceptual framework. In this video, the conceptual framework of ipsas was revised. This conceptual framework exposure draft 4 cfed4, conceptual framework for general purpose financial reporting by public sector entities. For for example, when considering whether an event or transaction results in an asset that should be. The conceptual framework for general purpose financial reporting by public sector entities the conceptual framework provides the international public sector accounting standards board ipsasb with the concepts that will underpin the development of international public sector accounting standards ipsass and recommended practice guidelines rpgs in the coming years.

Conceptual framework for general purpose financial. In a nonexchange transaction, an entity receives value from another party without directly giving. The volume and financial significance of nonexchange transactions 5. The ipsasb considered that the word compulsory should be used rather than involuntary in the context of taxes and transfers in the section on non exchange transactions. Presentation in general purpose financial reports, was developed and approved by the international public sector accounting standards board ipsasb.