Government Transfers - Deloitte

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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 •<strong>Government</strong> 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’
Page 3 and 4: Polling Question 1 What is your cur
Page 5 and 6: New PSA Standards Topic Financial S
Page 7 and 8: PSAB projects Amalgamations and Res
Page 9 and 10: Related Party Transactions (RPTs)-
Page 11: Conceptual framework
Page 15 and 16: Key characteristics of public secto
Page 17 and 18: Financial instruments
Page 19 and 20: Derivatives and Embedded Derivative
Page 21 and 22: Foreign currency translation Unreal
Page 23 and 24: Effective interest method • The e
Page 25 and 26: Statement of Remeasurement Gains an
Page 27 and 28: Financial instruments - risk disclo
Page 29 and 30: Government transfers
Page 31 and 32: Government Transfers, PS 3410 - New
Page 33 and 34: What is a government transfer Trans
Page 35 and 36: Government transfers- transferring
Page 37 and 38: Authorization Expanded guidance and
Page 39 and 40: Government transfers - recipients S
Page 41 and 42: Conclusions New standard clarifies
Page 43 and 44: Transition to PSA standards
Page 45 and 46: Timeline - first time adoption by G
Page 47 and 48: Financial Instruments - transition
Page 49 and 50: Frequently asked questions - financ
Page 51 and 52: Restatement of comparative figures
Page 53 and 54: First time adoption - PS 2125 optio
Page 55 and 56: Lessons learned (continued) Obtain
Page 57: Questions Paula Jesty Partner pjest

Government Transfers - Deloitte

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