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.

Submitted Comment Letters

1. Association of Government Accountants (United States)
January 23, 2013

2. Wellington City Council (New Zealand)
March 10, 2013

3. School of Accounting and Commercial Law, Victoria University of Wellington (New Zealand)
March 18, 2013

4. The Institute of Chartered Accountants of Nigeria (ICAN) (Nigeria)
March 20, 2013

5. Swiss Public Sector Financial Reporting Advisory Committee (Switzerland)
March 28, 2013

6. APV Valuers & Asset Management (Australia)
April 2, 2013

7. Public Sector Accounting Board (Canada)
April 10, 2013

8. Conseil de normalisation des comptes publics (CNOCP) (France)
April 15, 2013

9. Federation of European Accountants (FEE) (Belgium)
April 16, 2013

10. Accounting Standards Board (ASB) (South Africa)
April 19, 2013

11. New Zealand Accounting Standards Board (New Zealand)
April 21, 2013

12. Association of Chartered Certified Accountants (ACCA) (United Kingdom)
April 22, 2013

13. KPMG IFRG Limited (United Kingdom)
April 22, 2013

14. Australasian Council of Auditors-General  (Australia)
April 28, 2013

15. Instituut van de Bedrijfsrevisoren/Institut des Réviseurs d'Entreprises (Belgium)
April 29, 2013

16. Swedish National Financial Management Authority (ESV) (Sweden)
April 29, 2013

17. Chartered Institute of Public Finance and Accountancy (CIPFA) (United Kingdom)
April 30, 2013

18. Cour des comptes (France)
April 30, 2013

19. Government of Manitoba (Canada)
April 30, 2013

20. Institut der Wirtschaftspruefer in Deutschland e.V. (IDW) (Germany)
April 30, 2013

21. Institute of Certified Public Accountants of Kenya (ICPAK) (Kenya)
April 30, 2013

22. The Institute of Chartered Accountants of Jamaica (ICAJ) (Jamaica)
April 30, 2013

23. The Japanese Institute of Certified Public Accountants (Japan)
April 30, 2013

24. University of Tampere, School of Management (Finland)
April 30, 2013

25. Wales Audit Office (United Kingdom)
April 30, 2013

26. Zambia Institute of Chartered Accountants (ZICA) (Zambia)
April 30, 2013

27. United Nations system Task Force on Accounting Standards (United States)
May 1, 2013

28. Heads of Treasuries Accounting and Reporting Advisory Committee (HoTARAC) (Australia)
May 3, 2013

29. Denise Silva Ferreira Juvenal (Brazil)
May 4, 2013

30. Province of Ontario - Office of the Provincial Controller (Canada)
May 5, 2013

31. Abu Dhabi Accountability Athority (ADAA) (United Arab Emirates)
May 6, 2013

32. Direction Générale des Finances Publiques (DGFiP) (France)
May 7, 2013

33. Malaysian Institute of Accountants (Malaysia)
May 7, 2013

34. European Commission (Belgium)
May 8, 2013

35. Joint Accounting Bodies (Australia)
May 9, 2013

36. Ernst & Young (United Kingdom)
May 13, 2013

37. CAPE for UK FRC (United Kingdom)
May 15, 2013

38. Governmental Accounting Standards Board (GASB) (United States)
May 31, 2013

39. Australian Accounting Standards Board (AASB) (Australia)
June 3, 2013

Related Resources

• 2013 Handbook of International Public Sector Accounting Pronouncements
• Conceptual Framework for General Purpose Financial Reporting by Public Sector Entities: Elements and Recognition in Financial Statements
• Conceptual Framework for General Purpose Financial Reporting by Public Sector Entities: Presentation in General Purpose Financial Reports
• IPSASB Consultation Paper on 2013-2014 Work Program
• IPSASs and Government Finance Statistics Reporting Guidelines