IPSASB publishes guidance on financial instruments
17 Aug 2018
The International Public Sector Accounting Standards Board (IPSASB) has released IPSAS 41 'Financial Instruments'.
IPSAS 41 replaces IPSAS 29 Financial Instruments: Recognition and Measurement, and introduces:
- Simplified classification and measurement requirements for financial assets;
- A forward-looking impairment model; and
- A flexible hedge accounting model.
IPSAS 41 includes public sector-specific guidance and illustrative examples on: (1) financial guarantees issued through non-exchange transactions; (2) concessionary loans; (3) equity instruments arising from non-exchange transactions; and (4) fair value measurement.
For more information, see the press release, IPSAS 41, and At-a-Glance summary on the IPSASB website.