Government Transfers - Deloitte
Government Transfers - Deloitte Government Transfers - Deloitte
What is a conceptual framework • coherent set of interrelated objectives and fundamentals • leads to consistent standards • prescribes the nature, function and limits of financial accounting and reporting • The conceptual framework in the PSA Handbook sets out the concepts that underlie the preparation and presentation of financial statements for governments and government organizations that apply the PSA Handbook.
Conceptual Framework Why Revising Focus of Project •Primarily a response to concerns raised by senior government on the impact of recently issued standards on measurement of financial performance: •Financial instruments •Government transfers •Review concepts underlying financial performance including: •Characteristics of public sector entities •Users and user needs •Elements of financial statements •Recognition and measurement
- Page 1 and 2: PLEASE NOTE: The audio for today’
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What is a conceptual framework<br />
• coherent set of interrelated objectives and fundamentals<br />
• leads to consistent standards<br />
• prescribes the nature, function and limits of financial<br />
accounting and reporting<br />
• The conceptual framework in the PSA Handbook<br />
sets out the concepts that underlie the<br />
preparation and presentation of financial<br />
statements for governments and<br />
government organizations that<br />
apply the PSA Handbook.
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