International Public Sector Accounting Standards
The International Public Sector Accounting Standards (IPSAS) are accounting standards which, in accordance with the recommendations of the IPSAS Board, are to be applied by public entities, with the exception of publicly active companies. For public management operators (often referred to simply as a public company) shall apply to the private companies that adopted by the IASB IFRS .
In the relevant literature, the IPSAS are often translated as International Accounting Standards for the Public Sector or International Accounting Standards for Public Administration .
The IPSAS are based on the IFRS (formerly called IAS) and are adapted to the specific needs of organizational units in the public sector. They are issued in English and are also available as official translations in Spanish, French and German.
The IPSAS board
The IPSAS are developed by the IPSAS board of IFAC (short: IPSASB). This board is a body whose task it is to develop and publish accounting standards for the public sector (IPSAS) under its own responsibility. The objectives of the IPSASB are to develop high-quality accounting standards for the public sector in the public interest, to enable compliance with international and national standards and thereby increase the quality and uniformity of global financial reporting.
The IPSASB develops IPSAS for financial statements based on the accrual concept as well as for financial statements based on the payment principle . The IPSAS regulate the recording, evaluation, presentation and disclosure requirements with regard to business transactions and events in general financial statements (so-called General Purpose Financial Statements). The distinguishing feature of such financial statements is that they are published to users of financial statements who are not in a position to request financial information for their specific needs.
Since January 1, 2009, Thomas Müller-Marqués Berger has been a member of the International Public Sector Accounting Standards Board (IPSASB) of the International Federation of Accountants (IFAC) as a representative of the German professional organizations - Chamber of Public Accountants (WPK) and Institute of Public Accountants (IDW).
Overview of the standards
Currently (June 2014) there are 32 standards for double accounting as well as one standard for accounting based on the payment principle (cameralistics) :
| IPSAS | designation | content | reference |
|---|---|---|---|
| IPSAS 1 | Presentation of financial statements | Presentation of the conclusion | IAS 1 |
| IPSAS 2 | Cash flow statements | Financial accounting (cash flow statement) | IAS 7 |
| IPSAS 3 | Accounting Policies, Changes in Accounting Estimates and Errors | Accounting and valuation methods, changes in estimates and errors | IAS 8 |
| IPSAS 4 | The Effects of Changes in Foreign Exchange Rates | Effects of Changes in Exchange Rates | IAS 21 |
| IPSAS 5 | Borrowing Costs | Borrowing costs | IAS 23 |
| IPSAS 6 | Consolidated and Separate Financial Statements | Consolidated and separate financial statements | IAS 27 |
| IPSAS 7 | Investments in Associates | Shares in associated units | IAS 28 |
| IPSAS 8 | Interests in joint ventures | Shares in joint ventures | IAS 31 |
| IPSAS 9 | Revenue from Exchange Transactions | Income from transactions with a reciprocal service relationship | IAS 18 |
| IPSAS 10 | Financial Reporting in Hyperinflationary Economies | Accounting in hyperinflationary countries | IAS 29 |
| IPSAS 11 | Construction Contracts | Production orders | IAS 11 |
| IPSAS 12 | Inventories | Stocks | IAS 2 |
| IPSAS 13 | Leases | Leases | IAS 17 |
| IPSAS 14 | Events after the reporting date | Events after the balance sheet date | IAS 10 |
| IPSAS 15 | Financial Instruments: Disclosure and Presentation | Financial instruments: information and presentation | IAS 32 |
| IPSAS 16 | Investment property | Investment property | IAS 40 |
| IPSAS 17 | Property, Plant and Equipment | Property, plant and equipment | IAS 16 |
| IPSAS 18 | Segment reporting | Segment reporting | IAS 14 |
| IPSAS 19 | Provisions, Contingent Liabilities, Contingent Assets | Provisions, Contingent Liabilities and Contingent Assets | IAS 37 |
| IPSAS 20 | Related Party Disclosures | Information on relationships with related units and persons | IAS 24 |
| IPSAS 21 | Impairment of non-cash generating assets | Impairment of non-cash generating assets | no directly corresponding IAS / IFRS |
| IPSAS 22 | Disclosure of Financial Information about the General Government Sector | Disclosures of financial information about the general government sector | no directly corresponding IAS / IFRS |
| IPSAS 23 | Revenue from Non-Exchange Transactions (Taxes and Transfers) | Income from transactions without a reciprocal service relationship (taxes and transfer payments) | no directly corresponding IAS / IFRS |
| IPSAS 24 | Presentation of Budget Information in Financial Statements | Presentation of household information in annual financial statements | no directly corresponding IAS / IFRS |
| IPSAS 25 | Employee benefits | Employee benefits | IAS 19 |
| IPSAS 26 | Impairment of cash-generating assets | Impairment of cash generating assets | IAS 36 |
| IPSAS 27 | Agriculture | Agriculture | IAS 41 |
| IPSAS 28 | Financial Instruments: Presentation | Financial instruments: presentation | IAS 32 |
| IPSAS 29 | Financial Instruments: Recognition and Measurement | Financial instruments: recording and valuation | IAS 39 |
| IPSAS 30 | Financial Instruments: Disclosures | Financial instruments: disclosure | IFRS 7 |
| IPSAS 31 | Intangible assets | Intangible assets | IAS 38 |
| IPSAS 32 | Service Concession Arrangements: Grantor | Service concessions: grantor |
Application of the IPSAS
IPSAS are used today in many countries in Central and Eastern Europe, Asia, Africa and Latin America as well as in numerous international organizations (OECD, NATO, from 2010 the UN). In Europe, the EU Commission calculates according to IPSAS, as do some member states and Switzerland.
literature
- Berit Adam: International Accounting Standards for Public Administration (IPSAS) - A critical analysis with special consideration of their applicability in Germany . Frankfurt am Main 2004, also dissertation, German University of Administrative Sciences Speyer 2003, ISBN
- Oliver Bachmann, Johannes Fark (Ed. KPMG AG Switzerland): IPSAS Authorized Translation of the IPSAS Standards Edition 2011. Schulthess Legal Media, Zurich 2012, ISBN 978-3-7255-6501-6
- Andreas Bergmann, Andreas Gamper: Accounting standards for cantons and municipalities within the framework of IPSAS (International Public Sector Accounting Standards) . Zurich 2004, ISBN 3-9523712-0-3 .
- Heinz Bolsenkötter (Ed.): The future of public accounting: Reform tendencies and international developments . Baden-Baden 2007, ISBN 978-3-8329-2899-5
- Andreas Glöckner: The application of international accounting standards (IPSAS / IFRS) to selected accounting problems of double municipal accounting . uni-mannheim.de
- Thomas Müller-Marqués Berger (Ed.): International Accounting for the Public Sector (IPSAS): Basics and individual presentations . Stuttgart 2008, ISBN 978-3-7910-2440-0
- Holger Wirtz: Principles of proper public accounting . Berlin 2008, ISBN 978-3-503-11024-7
Web links
- PublicSector www.ifac.org (English)
- www.ipsas.de (German; not authorized by IFAC)
- www.ipsas.be IPSAS summaries (English; not authorized by IFAC)
Individual evidence
- ↑ Thomas Müller-Marqués Berger appointed to the IPSAS Board. (PDF) (No longer available online.) Institut der Wirtschaftsprüfer , January 2, 2009, formerly in the original ; accessed on August 1, 2012 (press release). ( Page no longer available , search in web archives ) Info: The link was automatically marked as defective. Please check the link according to the instructions and then remove this notice.
