Study 5 - Definition and Recognition of Assets

    Filter By


    Surveys & Reports


    Published: Aug 01, 1995
    64 Pages



    Find more publications & resources related to:
    public sector, IPSASB

    Study 5 - Definition and Recognition of Assets

    This Study identifies and describes the variety of views which exist about whether, when and how specific assets should be measured and reported in the public sector. It considers and explores:

    • the definition and recognition of assets;
    • the effect of different bases of accounting on the definition and recognition of assets; and
    • the issues associated with certain types of assets.

    The Study acknowledges that the demand for government services has increased. This growth in demand has meant increasing competition for government services, stimulated by education standards, communication and community interest in government actions.

    Consequently, governments are under pressure to manage their assets efficiently and effectively. Accountability for efficiency and effectiveness of public sector asset management can be shown through better financial reporting. Better reporting provides a basis of understanding by the public, elected decision makers and by management. This, in turn, supports better decision making and asset allocation.

    Copyright © 2014 The International Federation of Accountants (IFAC). All rights reserved.

    Study 5 - Definition and Recognition of Assets (PDF | 3.4 MB)
    Date: Aug 01, 1995
    Author: IPSASB


    Related Resources


Important Note: Please read our website Terms of Use.

ALL RIGHTS ARE RESERVED. You may not reproduce, store or transmit in any form or by any means, electronic or otherwise, including photocopying, recording, or storage in any type of reference or information retrieval system, nor may you translate, modify or create derivative works or adaptations based on the text of any file, or any part thereof, without the prior written permission of the International Federation of Accountants (IFAC). Please direct permission requests to See also Permissions Information.