APPLYABILITY OF IPSAS STANDARDS

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Presentation transcript:

APPLYABILITY OF IPSAS STANDARDS Luxembourg, 5-6 July 2012

APPLYABILITY OF IPSAS STANDARDS CBI AN PB Preface to IPSAS X IPSAS 1 – Financial Statement IPSAS 2 – Cash Flow Statement IPSAS 3 – Net Surplus or Deficit for the Period, Fundamtental Errors and Changes in Accounting Policies IPSAS 5 – Borrowing Costs IPSAS 6 – Consolidated Financial Statements and Accounting IPSAS 7 – Accounting for Investments in Associates IPSAS 8 – Financial Reporting of Interests in Joint Ventures IPSAS 9 – Revenue from Exchange Transactions IPSAS 10 – Financial Reporting in Hyperinflationary Economies IPSAS 11 – Construction Contracts IPSAS 12 – Inventories IPSAS 13 – Leases IPSAS 14 – Events after Reporting Date IPSAS 15 – Financial Instruments: Disclosure and Presentation IPSAS 16 – Investment Property IPSAS 17 – Property, Plant and Equipment IPSAS 18 – Segment Reporting IPSAS 19 – Provisions, Contingent Liabilities and Contingent Assets title/author/place/date

APPLYABILITY OF IPSAS STANDARDS CBI AN PB IPSAS 20 – Related Party Disclosures X IPSAS 21 – Impairment of Non-Cash Generating Assets IPSAS 22 – Disclosure of Financial Information about the General Government Sector IPSAS 23 – Revenue from Non-Exchange Transactions (Taxes and Transfers) IPSAS 24 – Presentation of Budget Information in Financial Statements IPSAS 25 – Employee Benefits IPSAS 26 – Impairment of Cash Generating Assets IPSAS 27 – Agriculture IPSAS 28 – Financial Instruments: Presentations IPSAS 29 – Financial Instruments: Recognition and Measurement IPSAS 30 – Financial Instruments: Disclosure IPSAS 31 – Intangible Assets IPSAS 32 – Service Concession Arrangements: Grantor

Conclusions BUT reasonable time for implementation (depending on state of play of national systems) Consideration at first time adpotion for members states being in “business” for a long, long time (own standard for opening balance sheets and first accrual accounting period) STRONGER recognition of public services e.g. social benefits, asset valuation (more an instrument for citizens, than for investors)