Measurement
Objective
The objectives include to (a) issue amended IPSASs with revised requirements for measurement at initial recognition, subsequent measurement and measurement-related disclosure; (b) provide more detailed guidance on the implementation of replacement cost and cost of fulfillment and the circumstances under which these measurement bases will be used; and (c) address transaction costs, including the specific issue of the capitalizing or expensing of borrowing costs.
PROJECT CONTACT
TASK FORCE
- David Watkins (Chair)
- Francesco Capalbo
- Takeo Fukiya
- David Tretton
Project Stages
Board Papers
- March
- June 23 - ED 74 & ED 75, Measurement — Coordination of Cross Cutting Issues
- June 24 - Measurement
- June 24 - ED 76, IPSAS 17 Update—Coordination of Cross Cutting Issues
- July 28 - ED 78, Property, Plant and Equipment
- September
Other
CAG Papers
Summary
March:
The IPSASB reviewed the responses to the Measurement Consultation Paper. The IPSASB agreed that the existing accounting policy choice in IPSAS 5, Borrowing Costs, which allows borrowing costs that are directly attributed to qualifying assets to be either expensed as incurred or capitalized, should be retained. Additional guidance will be developed for the IPSASB’s consideration at its June meeting.
The IPSASB identified several themes in its review of the responses and will further address these during its June and September meetings.
June:
The IPSASB considered issues raised by constituents related to measurement bases identified in the Measurement Consultation Paper (CP). These foundational discussions, along with those in the related Conceptual Framework project, will shape the draft Measurement Exposure Draft (ED) that will be reviewed in September.
The IPSASB also discussed the impact of applying the CP Measurement definition of fair value across IPSAS and concluded that no change in terminology is required for the majority of IPSAS where the term fair value is currently applied.
