IPSAS Explained: A Summary of International Public Sector Accounting Standards

A practical guide to international public sector accounting standards. Opening with a thorough description of the structure and organization of the IPSASB, the book goes on to give an overview of the principles of key topics such as the accrual basis and the cash basis of accounting, the history, scope and authority of IPSASs, the strategy of the IPSASB as well as the standard-setting procedures. Additionally the various measurement bases (cost, present value, fair value) are introduced. A special focus of the book is on the implications of the current financial crisis on public sector accounting. In the main sector of the book each IPSAS (including the recently published exposure draft) is presented in brief, focusing on the core content of the relevant standard.