The International Public Sector Accounting Standards Board® (IPSASB®) has issued Exposure Draft (ED) 78, Property, Plant, and Equipment.

ED 78 updates IPSAS 17, Property, Plant, and Equipment by adding general measurement guidance and measurement options when accounting for assets within its scope, identifying the characteristics of heritage and infrastructure assets, and proposing new guidance on how these important types of public sector assets should be recognized and measured.

ED 77, Measurement proposes new guidance in a single standard which addresses how commonly used measurement bases are applied in practice. The ED brings in generic guidance on fair value for the first time, and it proposes a public sector specific current value measurement basis to respond to stakeholder views that a new measurement basis is required as an alternative to fair value for assets held for their operational capacity.

The International Public Sector Accounting Standards Board® (IPSASB®) has issued Exposure Draft (ED) 76, Conceptual Framework Update: Chapter 7, Measurement of Assets and Liabilities in Financial Statements.

ED 76 proposes a measurement hierarchy to steer the IPSASB in developing standard-level measurement guidance and to help stakeholders apply the principles in practice.