Conceptual Framework for General Purpose Financial Reporting by Public Sector Entities: Measurement of Assets and Liabilities in Financial Statements
Exposure Draft

Conceptual Framework Exposure Draft (ED) 3, Measurement of Assets and Liabilities in Financial Statements, identifies the measurement concepts that should guide the IPSASB in the selection of measurement bases for International Public Sector Accounting Standards. The ED stresses the importance of selecting measurement bases that meet the objectives of financial reporting-decision making and accountability.

Many assets in the public sector are held for their operational capacity and, therefore, entry values that reflect the cost of purchase are likely to be adopted in many situations.

An At a Glance Publication provides an overview of Conceptual Framework Exposure Draft (ED) 3.

Conceptual Framework for General Purpose Financial Reporting by Public Sector Entities: Measurement of Assets and Liabilities in Financial Statements (PDF | 534K)

Related Resources

• Conceptual Framework for General Purpose Financial Reporting by Public Sector Entities: Elements and Recognition in Financial Statements
• IPSASB Consultation Paper on 2013-2014 Work Program
• IPSASB Exposure Draft 47 - Financial Statement Discussion and Analysis
• IPSASs and Government Finance Statistics Reporting Guidelines
• Public Sector Combinations