UNDP’s IPSAS Adoption. United Nations Development Programme . What are IPSAS?. International Public Sector Accounting Standards are independently-developed financial reporting standards widely considered best practice for public sector organizations
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United Nations Development Programme
IPSAS “revenue” represents the total value of contributions in the signed contribution agreement. UNSAS “income” represented only the cash received.
The IPSAS opening balance represents revenue minus expenses; the UNSAS opening balance represented income minus expenditure
The new report includes legally binding vendor contracts for goods or services that have yet to be delivered or received. The old report showed disbursements and committed expenditure, as a single figure.
The new report includes goods delivered, services rendered, total employee benefits and depreciation of assets. The old report merely showed disbursements and committed expenditure as a single figure.
© United Nations Development Programme 2010