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2010 handbook of pronouncements.

The International Public Sector Accounting Standards Board (IPSASB) recently published its 2010 Handbook of International Public Sector Accounting Pronouncements. In two volumes, the handbook contains all current IPSASB pronouncements, including 31 accrual-based standards and the IPSASB's cash basis standard. Five of these standards were approved by the IPSASB in 2009, including requirements and guidance for all aspects of accounting for financial instruments, as well as intangible assets and agriculture.

"It provides the only global and comprehensive set of accounting requirements and guidance developed specifically for preparers of public sector financial statements," Andreas Bergmann, chair, IPSASB, says. "It is also a strong foundation for the next phase of the IPSASB's work, including developing the IPSASB's conceptual framework--a set of principles that, following completion, will underpin the IPSASB's standard-setting activities for the long-term--and maintaining alignment with the International Accounting Standards Board's International Financial Reporting Standards (IFRS)."

Under the convergence program, the IPSASB achieved substantial convergence with the IFRS requirements as of Dec. 31, 2008, that are relevant for the public sector.

The handbook can be downloaded free of charge in PDF format or ordered in print from IFAC's publications and resources site; web.ifac.org/publications.
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Title Annotation:News and views
Publication:CMA Management
Date:Jun 1, 2010
Words:194
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