<abstract xmlns="http://www.w3.org/1999/xhtml"><p>Simultaneously with the globalization of economies, it was necessary the adoption and implementation of international accounting standards for the public sector also. In 1996 a set of accounting standards for public sector entities was developed, namely International Public Sector Accounting Standards (IPSAS). After 31<sup>st</sup> July 1998, 32 IPSAS standards, mostly inspired by IASs, centered on model and engagement-based accounting, were issued. IPSAS 1 – Presentation of financial statements relating to the place of intangible assets, inventories and personnel expenses in the content and format of the financial statements is applied to all general purpose financial statements realized under accrual accounting. The IPSAS 12 – Inventory objective is to state the stock accounting treatment. The IPSAS 25 objective – Employee benefits is to state the employee benefits from an accounting perspective.</p></abstract>

Simultaneously with the globalization of economies, it was necessary the adoption and implementation of international accounting standards for the public sector also. In 1996 a set of accounting standards for public sector entities was developed, namely International Public Sector Accounting Standards (IPSAS). After 31st July 1998, 32 IPSAS standards, mostly inspired by IASs, centered on model and engagement-based accounting, were issued. IPSAS 1 – Presentation of financial statements relating to the place of intangible assets, inventories and personnel expenses in the content and format of the financial statements is applied to all general purpose financial statements realized under accrual accounting. The IPSAS 12 – Inventory objective is to state the stock accounting treatment. The IPSAS 25 objective – Employee benefits is to state the employee benefits from an accounting perspective.

Exemptions Resulting from the International Public Sector Accounting Standards (IPSAS) and European Standards for Intangible Investment, Inventories and Personnel Expenditures in Public Entities

“Carol I” National Defense University

Scientific Bulletin

This work is licensed under the Creative Commons Attribution-NonCommercial-NoDerivatives 3.0 License.

Simultaneously with the globalization of economies, it was necessary the adoption and implementation of international accounting standards for the public...

Exemptions Resulting from the International Public Sector Accounting Standards (IPSAS) and European Standards for Intangible Investment, Inventories and Personnel Expenditures in Public Entities

Published Online: Dec 17, 2019

Page range: 124 - 130

DOI: https://doi.org/10.2478/bsaft-2019-0014

Keywords
International Public Sector Accounting Standards, intangible assets, stocks, human resources expenditures

© 2019 Corina Enache, published by Sciendo

This work is licensed under the Creative Commons Attribution-NonCommercial-NoDerivatives 3.0 License.

Exemptions Resulting from the International Public Sector Accounting Standards (IPSAS) and European Standards for Intangible Investment, Inventories and Personnel Expenditures in Public Entities

Published Online: Dec 17, 2019

Page range: 124 - 130

DOI: https://doi.org/10.2478/bsaft-2019-0014

KeywordsInternational Public Sector Accounting Standards, intangible assets, stocks, human resources expenditures

© 2019 Corina Enache, published by Sciendo

This work is licensed under the Creative Commons Attribution-NonCommercial-NoDerivatives 3.0 License.

Keywords
International Public Sector Accounting Standards, intangible assets, stocks, human resources expenditures