Public sector accounting is, at present, practiced in diverse ways globally, at odds with the tenets of New Public Management to reduce bureaucracy, and to achieve comparable standards in terms of accountability, transparency and competition. The International Public Sector Accounting Standards Board (IPSASB) is engaged in the ongoing process of harmonizing public sector accounting with their International Public Sector Accounting Standards (IPSAS). This updated second edition includes newly approved standards of the Board (IPSAS 27 to IPSAS 32), and gives a detailed update on the Conceptual Framework Project and other projects related to IPSAS and IFRS. The book provides decision-makers in the public sector with an overview of the IPSAS and the International Public Sector Accounting Standards Board. Opening with an examination of the objectives of the standards, the book goes on to give an overview of the principles relevant to key topics such as the accrual basis of accounting as against cash basis, fair value, present value, cost, and measurement bases. Each IPSAS is distilled into a useful and accessible summary.
Book Details:
- Author: Thomas Muller-Marques Berger
- ISBN: 9781118400128
- Year Published: 2012
- Pages: 240
- BISAC: BUS001050, BUSINESS & ECONOMICS/Accounting / Standards (GAAP, IFRS, etc.)
About the Book and Topic:
Public sector accounting is, at present, practiced in diverse ways globally, at odds with the tenets of New Public Management to reduce bureaucracy, and to achieve comparable standards in terms of accountability, transparency and competition. The International Public Sector Accounting Standards Board (IPSASB) is engaged in the ongoing process of harmonizing public sector accounting with their International Public Sector Accounting Standards (IPSAS). This updated second edition includes newly approved standards of the Board (IPSAS 27 to IPSAS 32), and gives a detailed update on the Conceptual Framework Project and other projects related to IPSAS and IFRS. The book provides decision-makers in the public sector with an overview of the IPSAS and the International Public Sector Accounting Standards Board. Opening with an examination of the objectives of the standards, the book goes on to give an overview of the principles relevant to key topics such as the accrual basis of accounting as against cash basis, fair value, present value, cost, and measurement bases. Each IPSAS is distilled into a useful and accessible summary.
Global public sector accounting is highly diversified, resulting in ongoing moves to harmonize standards worldwide. The International Public Sector Accounting Standards Board (IPSASB) is responsible for the creation of international standards, which largely follow the IFRS model. Where an IFRS exists, which is suitable for the public sector, the IPSASB simply adopts it. Where an existing IFRS need to be changed/expanded, or where no relevant IFRS exists, the IPSASB issues an IPSAS. The Standards are intended to be followed by all public sector entities, including national and regional governments and local authorities. They have been adopted by UN, NATO, and the European Commission, among others. Countries which are or will be following IPSAS include South Africa, China, Switzerland and Russia. The IPSASB has found that public sector accounting practice in Australia, Canada, New Zealand, the UK and the US is already largely compliant with IPSASs.
ERNST & YOUNG SUPPORT: written by the Global head of IPSAS and supported by a 650 copy buyback. IMPORTANT UPDATES TO A KEY SUBJECT AREA: covers standards which have been approved and released since publication of the first edition and provides updates on the Conceptual Framework Project PRACTICAL GUIDANCE: distills each standard into a useful and accessible summary. Provides useful overview of the basic principles behind the standards
About the Author
Thomas Muller-Marques Berger (Stuttgart, Germany) is a partner at Ernst & Young GmbH, in Germany, and serves as the firm’s Global head of IPSAS. He is also Director of the Center of Competence for New Local Government Accounting for all of Germany and Director of Public Services in southwest Germany. He became a member of the International Public Sector Accounting Standards Board (IPSASB) in January 2009, and has been a member of the IFAC Public Sector Steering Committee on social policy obligations since 2003. Again since 2003, he has also been a member of the FEE Public Sector Committee (European Federation of Chartered Accountants), and of the German Public Sector Committee in the Institut der Wirtschaftsprüfer in Deutschland (IDW). Jens Heiling (Stuttgart, Germany) is affiliated to Ernst & Young GmbH and the International Federations of Accountants (IFAC) Ernst & Young is a global leader in assurance, tax, transaction and advisory services, employing over 135,000 people worldwide.