AMMAN - HE Dr. Talal Abu-Ghazaleh, chairman of the Arab Society of Certified Accountants (ASCA -Jordan) announced the issuance of the Arabic version of the Handbook of International Public Sector Accounting Standards (IPSAS) 2020.
Dr. Abu-Ghazaleh affirmed that ASCA -Jordan continuously seeks to develop accounting and management sciences and exerts all effort to upgrade the practice and code of ethics according to the highest professional levels by the issuance of accounting publications and following-up on the recent developments in accounting and auditing.
The most important changes of the 2020 version are as follows:
The IPSASB approved amendments to IPSAS 19, Provisions, Contingent Liabilities and Contingent Assets and IPSAS 42, Social Benefits as a result of the IPSASB’s Collective and Individual Services (Amendments to IPSAS 19).
A number of IPSAS were also amended as a result of the IPSASB’s Improvement to IPSAS, 2019 project. This project involves making non-urgent but necessary changes to IPSAS. The following documents have been amended:
•IPSAS 5, Borrowing Costs;
•IPSAS 13, Leases;
•IPSAS 21, Impairment of Non-Cash-Generating Assets
•IPSAS 26, Impairment of Cash-Generating Assets
•IPSAS 30, Financial Instruments: Disclosures;
•IPSAS 33, First-time Adoption of Accrual Basis International Public Sector Accounting Standards (IPSASs);
•IPSAS 40, Public Sector Combinations.