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IPSASB publishes four interrelated EDs on measurement

  • IPSASB (International Public Sector Accounting Standards Board) (mid gray) Image

23 Apr 2021

The International Public Sector Accounting Standards Board (IPSASB) has released four exposure drafts (EDs) proposing changes in the measurement of assets and liabilities in financial statements, measurement, property, plant and equipment, as well as non-current assets held for sale and discontinued operations.

The four EDs are published together to highlight the common measurement principles proposed and the ways these are applied consistently throughout the draft guidance. The four EDs are listed below (all links to the IPSASB website). Comments on all EDs are requested by 25 October 2021.

  • ED 76 Conceptual Framework Update: Chapter 7, Measurement of Assets and Liabilities in Financial Statements streamlines the measurement principles in the Conceptual Framework by eliminating unused measurement bases and enhancing focus on those that are commonly used.
  • ED 77 Measurement proposes new guidance in a single standard which addresses how commonly used measurement bases are applied in practice.
  • ED 78 Property, Plant, and Equipment updates IPSAS 17 Property, Plant, and Equipment by adding general measurement guidance and measurement options when accounting for assets within its scope.
  • ED 79 Non-Current Assets Held for Sale and Discontinued Operations is aligned with IFRS 5 Non-Current Assets Held for Sale and Discontinued Operations and proposes new guidance how to account for non-current assets that are classified as held for sale.

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