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Measurement – Application of Current Operational Value


The objective of this phase of the measurement project to evaluate the applicability of current operational value in IPSAS that permit the use of current value at initial recognition and subsequent measurement, which were not explicitly considered in the first phase of the project.

Current Status of the Project

The IPSASB continued its discussion on the applicability of Current Operational Value (COV) to various IPSAS. The IPSASB decided to amend IPSAS 3, Accounting Policies, Changes in Accounting Estimates and Errors to clarify that a change in the measurement model is a change in accounting policy. The IPSASB also considered COV examples related IPSAS 21, Impairment of Non-Cash-Generating Assets to better understand how adding it might work when undertaking impairment testing. The IPSASB decided that the components of recoverable service amount should be current operational value and fair value less costs to sell.

Due Process Checklist

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Project Stages