Overview of IPSAS on public sector specific topics

Abstract

This chapter sets forth the IPSAS content by reviewing relevant norms. The hierarchy of IPSASB announcements and the set of IPSAS financial statements are briefly explained. Still, the focus of this chapter is on selected IPSAS referring to specific balance sheet items, namely property, plant and equipment (IPSAS 17, 21, 26), revenues and expenses from non-exchange transactions (IPSAS 23, 42, ED 72) and service concessions and the related assets and liabilities (IPSAS 32). Each standard is summarized in brief and for each accounting field, the definition, initial recognition and subsequent measurement is introduced.