Handbooks, Standards, and Pronouncements
Published: Jan 29, 2015
All available Translations
IPSAS 33, First-time Adoption of Accrual Basis IPSASs
International Public Sector Accounting Standard (IPSAS) 33 grants transitional exemptions to entities adopting accrual basis IPSASs for the first time, providing a major tool to help entities along their journey to implement IPSASs. It allows first-time adopters three years to recognize specified assets and liabilities. This provision allows sufficient time to develop reliable models for recognizing and measuring assets and liabilities during the transition period.
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