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IPSASB ED on non-exchange revenue including taxes

  • IFAC (International Federation of Accountants) (lt gray) Image

02 Feb 2006

The International Public Sector Accounting Standards Board (IPSASB) has proposed a new accounting standard for non-exchange revenue, including taxes and transfers.

The exposure draft, Revenue from Non-Exchange Transactions (Including Taxes and Transfers) deals with the basis on which different kinds of taxes should be recognised and how they should be measured. The ED also addresses accounting for other major sources of non-exchange revenue for public sector entities, including transfers from other governments and international organisations, and gifts and donations. The ED also provides guidance on how conditions and restrictions on the use of transferred resources are to be reflected in the financial statements. The IPSASB requests comments on the ED by 30 June 2006. The ED may be viewed by going to IPSASB's Website. Click for the Press Release (PDF 80k).

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