IPSAS Explained

Global diversity in the practice of public sector accounting still impedes the reduction of bureaucracy as well as the creation and application of comparable standards in terms of accountability and transparency. The International Public Sector Accounting Standards Board (IPSASB) continues its efforts in harmonizing public sector accounting with their International Public Sector Accounting Standards (IPSASs). IPSAS Explained: A Summary of International Public Sector Accounting Standards, Third Edition provides an update of existing standards, including a summary of the standards issued since the second edition of IPSAS Explained such as the standard on first-time adoption of accrual basis IPSASs or the consolidation standards. In addition, the book describes the new oversight and governance structure of the IPSASB. The book covers all pronouncements of the IPSASB as of 31 August 2017. The IPSASB's Conceptual Framework is now covered in a separate chapter. Furthermore, the book covers recently published Exposure Drafts and Consultation Papers, including the Consultation Paper, Accounting for Revenue and Non-Exchange Expenses , as well as an outlook on the IPSASB's current work plan. Each IPSAS is distilled into a useful and accessible summary, and illustrated with graphs, figures and tables. Beyond that, the book focuses on current status and recent developments of public sector accounting in three regions of the world, namely Africa, Europe and Latin America. In addition, an outlook on recent reform initiatives in these regions is provided. IPSAS Explained aims to provide senior executives and decision-makers in the public sector with a thorough grounding on the IPSASs and the operations of the IPSASB.``