Ipsasb conceptual framework pdf files

This conceptual framework exposure draft 4 cfed4, conceptual framework for general purpose financial reporting by public sector entities. Ifass ipsasb update first time adoption of accrual basis ipsass. Conceptual framework for general purpose financial. Conceptual framework for private sector business entities that is being closely monitored by the ipsasb. The conceptual framework concept s guide how the ipsasb addresses finan cial reporting issues. International public sector accounting standards board. The conceptual framework for general purpose financial. The jicpa submitted comments on the consultation paper of conceptual framework for general purpose financial reporting by public sector entities. Ipsasb s projects, including views on key technical issues or matters that may impede the adoption or effective implementation of ipsas. Pdf international public sector accounting standards ipsas.

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. 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. The objective of the project is to develop a public sector conceptual framework which is applicable to the preparation and presentation of general purpose financial reports of public sector entities. The ipsasb already has a heavy work program and additional projects are being considered for inclusion on the active work program from 2007.

The conceptual framework for general purpose financial reporting by public sector entities. The conceptual framework provides the ipsasb with the concepts that will underpin the development of international public sector accounting standards ipsas. The ipsasbs conceptual framework seeks to consider the specific features of public sector entities, but it presents several contradictions in its attempt to get closer to the iasb approach manes. Role and authority of the conceptual framework role concepts underpinning general purpose financial reporting accrual basis. 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. For for example, when considering whether an event or transaction results in an asset that should be. The ipsasb conceptual framework project is also likely to be resource intensive, in terms of both ipsasb meeting time and member and staff resources. In this video, the conceptual framework of ipsas was revised. The following sections highlight characteristics of the public sector that the ipsasb has considered in the development of the conceptual framework. In a nonexchange transaction, an entity receives value from another party without directly giving. The ipsasb is monitoring progress on that project and lead authors of ipsasb project components liaise with their iasbfasb counterparts.