Measurement

The objectives include to (a) issue amended IPSASs with revised requirements for measurement at initial recognition, subsequent measurement and measurement-related disclosure; (b) provide more detailed guidance on the implementation of replacement cost and cost of fulfillment and the circumstances under which these measurement bases will be used; and (c) address transaction costs, including the specific issue of the capitalizing or expensing of borrowing costs. 

Current Status of the Project

The IPSASB approved IPSAS 46, Measurement. The IPSASB approved IPSAS 46, Measurement finalizing the underlying concepts and guidance that will underpin the IPSASB’s approach to measurement for many years. This pronouncement brings measurement guidance together in a single standard, introducing a public sector specific current value measurement basis for assets held for their operational capacity and brings in generic guidance on fair value for the first time.

The effective date is January 1^st, 2025, and it was published in May 2023.

Project Contact

• Dave Warren

Task Force

• David Watkins (Chair)
• Francesco Capalbo
• Takeo Fukiya
• Jonathan Fothergill