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IPSASB updates revenue transaction and transfer expense standards

Steph Brown
Jun 05, 2023 · 1 min read

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The International Public Sector Accounting Standards Board (IPSASB) has issued three pronouncements that update and simplify existing principles, according to a news release. Informed by stakeholder feedback and refinement over the course of several years, the pronouncements introduce:

  • A single, up-to-date source of guidance applicable to all revenue transactions across the public sector; and

  • A new straightforward accounting model for the recognition and measurement of transfer expenses in the public sector.

IPSAS 47 replaces IPSAS 9, Revenue from Exchange Transactions

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Topics

Accounting & Financial Reporting

Subtopics

International Financial Reporting Standards
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