Accounting for Revenue and Non-Exchange Expenses
Consultation Paper
IPSASB
Aug 22, 2017 | Exposure Drafts and Consultation Papers
English
Comments due by: Jan 15, 2018
This Consultation Paper discusses two potential approaches for recognition of revenue for transactions that have performance obligations or stipulations:
- The Exchange/Non-Exchange Approach – which maintains the principles within IPSAS 23, Revenue from Non-Exchange Transactions (Taxes and Transfers)but identifies five options for updating that Standard; and
- The Public Sector Performance Obligation Approach for Revenue - where revenue is recognized when identified performance obligations have been met
It also discusses two potential approaches for recognition of non-exchange expenses:
- The Extended Obligating Event Approach - relies on the IPSASB’s Conceptual Framework to determine when a resource provider has a liability and an expense; and
- The Public Sector Performance Obligation Approach for Expenses – mirrors the equivalent revenue approach but adapted for non-exchange expenses.
The Consultation Paper also discusses:
- Implementation issues regarding recognition of revenue from capital grants and services in-kind;
- Initial and subsequent measurement of non-contractual receivables; and
- Subsequent measurement of non-contractual payables.
Copyright © 2022 The International Federation of Accountants (IFAC). All rights reserved.
Submitted Comment Letters
1. Broadcasting Commission - NZ On Air (New Zealand)
November 16, 2017
2. Susan Chisnall (New Zealand)
November 19, 2017
3. New Zealand Film Commission (New Zealand)
November 19, 2017
4. Te Mangai Paho (Maori Broadcasting Funding Agency) (New Zealand)
November 23, 2017
5. International Consortium of Government Financial Management (ICGFM)
November 28, 2017
6. Whanganui District Health Board
December 11, 2017
7. Accountancy Europe
December 15, 2017
8. Accounting Standards Board (South Africa)
December 19, 2017
9. ITER Organization
December 20, 2017
10. New Zealand Accounting Standards Board
January 11, 2018
11. Chartered Accountants Australia and New Zealand
January 11, 2018
12. HoTARAC
January 11, 2018
13. Swiss Public Sector Financial Reporting Advisory Committee (Switzerland)
January 12, 2018
14. Task Force IRSPM A&A SIG, CIGAR Network and EGPA PSG XII
January 15, 2018
15. The Japanese Institute of Certified Public Accountants (Japan)
January 15, 2018
16. Institute of Chartered Accountants of Nigeria (Nigeria)
January 15, 2018
17. Korea Institue of Public Finance
January 15, 2018
18. Kalar Consulting Ltd (United Kingdom)
January 15, 2018
19. KPMG Services Proprietary Limited (South Africa)
January 15, 2018
20. Institut der Wirtschaftspruefer in Deutschland e.V. (IDW) (Germany)
January 15, 2018
21. CIPFA (United Kingdom)
January 15, 2018
22. Conselho Federal de Contabilidade (CFC) (Brazil)
January 15, 2018
23. Ichabod's Industries Limited
January 15, 2018
24. PUBLIC SECTOR ACCOUNTING STANDARDS BOARD KENYA (Kenya)
January 15, 2018
25. Audit New Zealand (New Zealand)
January 15, 2018
26. PwC
January 15, 2018
27. ICAEW (United Kingdom)
January 15, 2018
28. Austrian Ministry of Finance
January 16, 2018
29. The Institute of Chartered Accountants of India (India)
January 16, 2018
30. Cour des comptes (France)
January 17, 2018
31. Conseil de normalisation des comptes publics (France)
January 22, 2018
32. Australasian Council of Auditors-General (Australia)
January 23, 2018
33. EY
January 23, 2018
34. European Commission
January 24, 2018
35. Malaysian Institute of Accountants
January 30, 2018
36. Public Sector Accounting Board (Canada)
January 31, 2018
37. DGFiP (France)
February 5, 2018
38. US Government Accountability Office
February 9, 2018
Related Resources
- 2016 Handbook of International Public Sector Accounting Pronouncements
- 2022 Handbook of International Public Sector Accounting Pronouncements
- Exposure Draft (ED) 80, Improvements to IPSAS, 2021
- Exposure Draft (ED) 82, Retirement Benefit Plans
- Improvements to IPSAS, 2021