GBEs – NBC Institute

PSAF – May 2017 – L2 – Q3b – General purpose financial reporting framework

This question identifies characteristics of Government Business Enterprises (GBEs) as defined by IPSAS 1 for determining appropriate financial reporting standards.

Question

Public sector entities are required to present financial reports in compliance with the International Public Sector Accounting Standards (IPSAS). However, Government Business Enterprises (GBEs) are to present the financial reports using IFRS due to their peculiar characteristics that separate them from other public sector entities.

In determining whether an entity is a GBE for financial report purposes, one must examine their nature and characteristic rather than the legal form. In the entity you work for, there is controversy among top management about whether to use IPSAS or IFRS.

Required: Identify FOUR characteristics of GBEs in accordance with IPSAS 1, Presentation of Financial Statements. (4 marks)

Answer

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Tags: GBEs, Government Business Enterprises, IFRS, IPSAS, Public Sector Reporting
Level: Level 2

Topic: General purpose financial reporting framework
Series: MAY 2017

PSAF – Nov 2017 – L2 – Q2a – Public Sector Fiscal Planning and Budgeting

Describe the challenges faced by public institutions classified as GBEs in preparing financial statements under obsolete financial laws.

Question

A public sector institution has recently had its operations enhanced and modified such that they qualify as Government Business Enterprise (GBE) within the meaning of IPSAS 1. The management of the institution, in preparing their financial report for 2015, realized that the existing financial laws and regulations do not support their new status.

Required: Describe FOUR challenges Public Institutions (like the one in the preamble) face in the preparation of their financial statements when some financial laws and regulations needed to support reporting on their new status and operations have become obsolete. (4 marks)

Answer

Find Related Questions by Tags, levels, etc.

Tags: Financial Reporting, GBEs, IPSAS, Public Institutions, Regulatory Framework
Level: Level 2

Topic: Public sector fiscal planning and budgeting
Series: NOV 2017

PSAF – May 2017 – L2 – Q3b – General purpose financial reporting framework

This question identifies characteristics of Government Business Enterprises (GBEs) as defined by IPSAS 1 for determining appropriate financial reporting standards.

Question

Required: Identify FOUR characteristics of GBEs in accordance with IPSAS 1, Presentation of Financial Statements. (4 marks)

Answer

Find Related Questions by Tags, levels, etc.

Tags: GBEs, Government Business Enterprises, IFRS, IPSAS, Public Sector Reporting
Level: Level 2

Topic: General purpose financial reporting framework
Series: MAY 2017

PSAF – Nov 2017 – L2 – Q2a – Public Sector Fiscal Planning and Budgeting

Describe the challenges faced by public institutions classified as GBEs in preparing financial statements under obsolete financial laws.

Question

Answer

Find Related Questions by Tags, levels, etc.

Tags: Financial Reporting, GBEs, IPSAS, Public Institutions, Regulatory Framework
Level: Level 2

Topic: Public sector fiscal planning and budgeting
Series: NOV 2017

Question Tag: GBEs

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PSAF – May 2017 – L2 – Q3b – General purpose financial reporting framework

This question identifies characteristics of Government Business Enterprises (GBEs) as defined by IPSAS 1 for determining appropriate financial reporting standards.

PSAF – Nov 2017 – L2 – Q2a – Public Sector Fiscal Planning and Budgeting

Describe the challenges faced by public institutions classified as GBEs in preparing financial statements under obsolete financial laws.

PSAF – May 2017 – L2 – Q3b – General purpose financial reporting framework

This question identifies characteristics of Government Business Enterprises (GBEs) as defined by IPSAS 1 for determining appropriate financial reporting standards.

PSAF – Nov 2017 – L2 – Q2a – Public Sector Fiscal Planning and Budgeting

Describe the challenges faced by public institutions classified as GBEs in preparing financial statements under obsolete financial laws.

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PSAF – May 2017 – L2 – Q3b – General purpose financial reporting framework

This question identifies characteristics of Government Business Enterprises (GBEs) as defined by IPSAS 1 for determining appropriate financial reporting standards.

You're reporting an error for "PSAF – May 2017 – L2 – Q3b – General purpose financial reporting framework"

PSAF – Nov 2017 – L2 – Q2a – Public Sector Fiscal Planning and Budgeting

Describe the challenges faced by public institutions classified as GBEs in preparing financial statements under obsolete financial laws.

You're reporting an error for "PSAF – Nov 2017 – L2 – Q2a – Public Sector Fiscal Planning and Budgeting"

PSAF – May 2017 – L2 – Q3b – General purpose financial reporting framework

This question identifies characteristics of Government Business Enterprises (GBEs) as defined by IPSAS 1 for determining appropriate financial reporting standards.

You're reporting an error for "PSAF – May 2017 – L2 – Q3b – General purpose financial reporting framework"

PSAF – Nov 2017 – L2 – Q2a – Public Sector Fiscal Planning and Budgeting

Describe the challenges faced by public institutions classified as GBEs in preparing financial statements under obsolete financial laws.

You're reporting an error for "PSAF – Nov 2017 – L2 – Q2a – Public Sector Fiscal Planning and Budgeting"

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