ASCA Issues the Arabic Translation of Handbook of International Public Sector Accounting Standards (2008)

ASCA (Jordan) continuously seeks to develop both accounting and management sciences as well as all related principles applicable to all or some professional services

AMMAN -November 15, 2008, The Arab Society of Certified Accountants (ASCA) has issued the latest Arabic translation of Handbook of International Public Sector Accounting Standards, in two parts for the first time. For 2008, the International Public Sector Accounting Standards Board (IPSASB) has finalized and published the following standards:- 

• IPSAS 4, ?The Effects of Changes in Foreign Exchange Rates? (Revised); 
• IPSAS 25, ?Employee Benefits?; 
• IPSAS 26, ?Impairment of Cash-Generating Assets.?; 
• The Cash Basis IPSAS, ?Financial Reporting under the Cash Basis of Accounting? This was amended at the conclusion of the IPSASB?s project on ?Disclosure Requirements for Recipients of External Assistance.? The revised standard is effective for reporting periods beginning on or after January 1, 2009.

In addition, the following IPSASs were amended by the issuance of IPSAS 26:- 

• IPSAS 21, ?Impairment of Non-Cash Generating Assets?; and 
• ?Glossary of Defined Terms.?

It is worthy to mention that ASCA (Jordan) continuously seeks to develop both accounting and management sciences as well as all related principles applicable to all or some professional services. ASCA (Jordan) also seeks to upgrade the competence, practice and Code of ethics at the highest professional levels through the issuance of accounting publications and following up the recent developments in accounting and auditing.