Printer Friendly

IFAC public sector exposure draft.

The International Public Sector Accounting Standards Board (IPSASB) of the International Federation of Accountants (IFAC) is working to improve both the quality and uniformity of financial information reported by public sector entities around the world. In pursuit of this objective, the IPSASB has issued an exposure draft (ED) of a proposed International Public Sector Accounting Standard (IPSAS), ED 30, Impairment of Cash-Generating Assets.

The majority of public sector entities globally operate for the purposes of delivering services to citizens. The IPSASB has already addressed assets that are held and operated primarily for the purposes of service delivery when it issued IPSAS 21, Impairment of Non-Cash-Generating Assets, in December 2004. ED 30 deals with cash-generating assets held and operated by public sector entities, which are not government business enterprises.

[ILLUSTRATION OMITTED]

"IPSAS 21 deals with the impairment of non-cash-generating assets and directed readers to International Accounting Standard 36 for guidance on the impairment of cash-generating assets. However, our constituents indicated that it would be useful if IPSASs included further guidance dealing with the impairment of cash-generating assets. The issuance of this proposed standard responds to that view," says IPSASB Chair Philippe Adhemar.

Comments on the ED are requested by February 28, 2007. It may be viewed by going to www.ifac.org/EDs. Comments may be submitted by email to publicsectorpubs@ifac.org. For more information visit www.ifac.org.
COPYRIGHT 2006 Society of Management Accountants of Canada
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 2006 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Title Annotation:New and noteworthy information you can use
Publication:CMA Management
Date:Dec 1, 2006
Words:229
Previous Article:IFAC tables guidance on codes of conduct.
Next Article:Directors limiting board appointments--good news?
Topics:


Related Articles
International programs spearhead CMA global recognition: a diversity of international programs are building the worldwide reputation of CMA Canada...
IFAC Board holds historic meeting in China, furthers several initiatives.
IFAC issues proposal to revise independence standards; CPAs encouraged to comment.
IFAC tables guidance on codes of conduct.
IFAC makes key leadership appointments.
Fermin del Valle new IFAC president.
New international public sector accounting standards.
IFAC's International Public Sector.

Terms of use | Privacy policy | Copyright © 2020 Farlex, Inc. | Feedback | For webmasters