Exposure Draft (ED) 77, Measurement
The International Public Sector Accounting Standards Board® (IPSASB®) has issued Exposure Draft (ED) 77, Measurement.
ED 77 proposes new guidance in a single standard which addresses how commonly used measurement bases are applied in practice. The ED brings in generic guidance on fair value for the first time, and it proposes a public sector specific current value measurement basis to respond to stakeholder views that a new measurement basis is required as an alternative to fair value for assets held for their operational capacity.
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 76, Conceptual Framework Update: Chapter 7, Measurement of Assets and Liabilities in Financial Statements
- 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.