Exposure Draft (ED) 76, Conceptual Framework Update: Chapter 7, Measurement of Assets and Liabilities in Financial Statements
Apr 22, 2021 | Exposure Drafts and Consultation Papers
Comments due by: Oct 25, 2021
The International Public Sector Accounting Standards Board® (IPSASB®) has issued Exposure Draft (ED) 76, Conceptual Framework Update: Chapter 7, Measurement of Assets and Liabilities in Financial Statements.
ED 76 proposes a measurement hierarchy to steer the IPSASB in developing standard-level measurement guidance and to help stakeholders apply the principles in practice.
The ED streamlines the measurement guidance in the Conceptual Framework by eliminating measurement bases that have not been used in the development of standards, inserts new or revised measurement bases, and focuses on those bases that are commonly used. It therefore aligns measurement concepts with the guidance in IPSAS.
This ED is part of a suite of four EDs that address how to measure assets and liabilities in the public sector, and should be read in conjunction with:
- ED 77, Measurement
- ED 78, Property, Plant, and Equipment
- ED 79, Non-Current Assets Held for Sale and Discontinued Operations
Supporting Resources have been developed to support constituents respond to this suite of EDs.
Copyright © 2021 The International Federation of Accountants (IFAC). All rights reserved.
You must be signed in to the IFAC website in order to submit a comment. If you do not have an account, please register below. IFAC respects your privacy and will not send you unsolicited email or spam. You can subscribe to IFAC publications, change your subscription preferences, or manage your user profile at any time.