by David Edgerton APV

With the recent publication of IPSASBs new standards on Infrastructure and Measurement, it is appropriate to summarise the key changes from the old IPSAS17 Property Plant and Equipment and reflect on how the new IPSAS requirements differ from the existing IFRS valuation requirements. While there is a conceptual difference with IPSAS being an ‘entity specific entry price’ and IFRS being an ‘exit price at highest and best use’, in reality, almost of all of the requirements once the replacement cost of market value is determined are the same. This includes disclosures and the calculation of depreciation expense. read more Full PDF article >>