Non-Authoritative Amendments to IPSAS 41, Financial Instruments
Dec 10, 2020 | Handbooks, Standards, and Pronouncements
The IPSASB has issued Non-Authoritative Amendments to IPSAS 41, Financial Instruments.
This pronouncement provides additional non-authoritative guidance in IPSAS 41, Financial Instruments, to clarify the requirements for classifying, recognizing, and measuring public sector specific financial instruments.
Additional guidance underlines that public sector items that meet the definition of a financial instrument should be accounted for by applying existing IPSAS principles, and clarifies the principles themselves to help improve financial information. This guidance relates to the following monetary items unique to the public sector:
- Monetary gold;
- Currency in circulation;
- IMF quota subscriptions; and
- IMF Special Drawing Rights (SDRs).
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.