This chapter sets forth the Chapter 10 by presenting the accounting
treatment of selected economic transactions. By using a case study of a
municipality, specific accounting issues will be worked through using the
standards and other pronouncements of the IPSASB.
Thereby this chapter provides insights into selected accounting issues dealt
by public sector entities and the process to prepare financial reports
in conformity with IPSAS. Thereby, also the accounting records and the
changes in the accounts will be entered. The focus is on selected public
sector relevant IPSAS, namely IPSAS 16, 21, 23 and 32. As a result of this
chapter, a closing balance sheet, a statement of financial performance and
a statement of financial position is developed.