Exposure Draft (ED) 76, Conceptual Framework Update: Chapter 7, Measurement of Assets and Liabilities in Financial Statements

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.

 

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