Project Status

An Exposure Draft (ED 47), Financial Statement Discussion and Analysis, was approved in March 2012 with a response date of July 31, 2012. 

Objective

The objective of the project is to develop financial reporting guidance on financial statement discussion and analysis.

Scope

The project applies to all public sector entities, other than Government Business Enterprises (GBEs), preparing and presenting financial statements under the accrual basis of accounting.

To use a principles-based approach to develop a consistent framework for reporting service performance information of public sector programs and services that focuses on meeting the needs of users.

Scope

The project applies to a number of IPSASs.

Background

The IASB issued improvements to 12 IFRSs/IFRICs in April 2009. There are 4 IPSASs that need to be updated.

There are also 4 IPSASs which are the subject of general improvements.

To prescribe the accounting treatment for public sector combinations.

To update various IPSASs affected by the IASBs Annual Improvements project issued in May 2008.

Scope

The project applies to a number of IPSASs primarily drawn from IFRS.

Background

The IASB issued improvements to 19 IFRSs in May 2008. There are 13 IPSAS equivalents of the IFRSs improved in May 2008.

Issues

Identifying whether there are any public sector issues related to the improvements adopted by the IASB which relate to IFRSs from which current IPSASs have been primarily drawn.

The objective of the project will be to develop financial reporting guidance on intangible assets converged with IAS 38 and SIC-32.

To develop an IPSAS that converges with IAS 41 Agriculture.

Scope

The project applies to the agricultural activity of all public sector entities, other than Government Business Enterprises (GBEs), preparing and presenting financial statements under the accrual basis of accounting.

GBEs are required to apply International Financial Reporting Standards (IFRSs) which are issued by the International Accounting Standards Board (IASB).

Project Status

The IPSASB approved the Project Brief in 2010.

Objective

The primary objective of the project is to identify any major difficulties that public sector entities have encountered in implementing the Cash Basis IPSAS Financial Reporting under the Cash Basis of Accounting and determine whether the IPSAS should be modified, or if further guidance should be provided, in light of these difficulties.

Further objectives of the project include:

To produce a framework for the reporting and disclosure of information related to the long-term fiscal sustainability of governmental programs.

Project Status

Disclosure Requirements for Recipients of External Assistance published (within the Cash Basis IPSAS - Financial Reporting Under the Cash Basis of Accounting).

Objective

Develop requirements for the disclosure of information about external assistance when the cash basis of financial reporting is adopted.