Aspectos sociológicos del nuevo consumidor

Serbian PS GAAP does not address the issue of Disclosure of Interests in Other Entities per IPSAS 38.

Serbian PS GAAP does not address the issue

of Disclosure of Interests in Other Entities.

IPSAS 39 – Employee Benefits

Serbian PS GAAP does not address the issue of Employee Benefits per IPSAS 39.

Serbian PS GAAP does not address the issue

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17

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R

The following is a copy of Measure 17 under Pillar V of the government’s PFM Reform Program on “Accounting, Monitoring and Financial Reporting”. It’s inclusion in this report is for the purposes of informing the reader of the government’s plans. Unless otherwise indicated, this report does not necessarily endorse the plan.

MEASURE 17 MOVING GRADUALLY TOWARDS ACCRUAL BASIS ACCOUNTING

ACTIVITY TIMEFRAME

ACTIVITY

STATUS COMMENT

Establish a government sector accounting standard

setting council. 2nd quarter 2016 Partially completed

Decisions about the composition and formation forwarded to 2nd quarter of 2017.

Develop a gap analysis between current accounting

practices and accrual IPSAS. 2nd quarter 2016 Completed

Analysis prepared within the IMF technical assistance report.

Preparing a realistic road map towards full accrual

accounting in the government sector. 2nd quarter 2016 Completed

Roadmap prepared within the IMF technical assistance report.

Prepare pro forma financial statements for 2015 in

compliance with IPSAS for Central Government. 2nd quarter 2016 Completed

Prepared “pro forma” financial report for the RS budget in line with IPSAS cash basis standards.

Prepare accounting policies in compliance with IPSAS

1, 2, 3, 5, 14, 24. 4th quarter 2016 Not Completed

Postponed to 2nd quarter 2017; Official translation of IPSAS was in progress but not yet finalized and ready for publishing.

Improvement of accounting solution in FMIS and other

ICT systems to support accrual accounting. 1st quarter 2017 Prepare for the year 2016: – financial statements for

central government only in compliance with IPSAS 1, 2 – consolidated cash flow statement (i.e. including central government’s controlled entities: DBBs, IBBs, EBFs,

105

Prepare for the year 2017: – financial statements for central government only in compliance with IPSAS 3, 5,

14, 24 incl. previous – consolidated cash flow statement. 2nd quarter 2018 Prepare accounting policies in compliance with IPSAS

9, 12, 20, 23, 25, 32. 2nd quarter 2018

Prepare for the year 2018: – financial statements for central government only in compliance with IPSAS 4, 19, 28, 29, 30, 36, 37, 38 incl. previous – consolidated

cash flow statement. 2nd quarter 2019

Prepare accounting policies in compliance with IPSAS

13, 16, 17, 18, 21, 22, 26, 27, 31, 33, 34, 35. 2nd quarter 2019 Prepare for the year 2019: – financial statements for

central government only in compliance with 9, 12, 20, 23, 25, 32 incl. previous – consolidated cash flow

statement. 2nd quarter 2020

Prepare for the year 2020 (first-time compliance with all IPSASs): – consolidated financial statements in

compliance with IPSAS 13, 16, 17, 18, 21, 22, 26, 27, 31, 33, 34, 35 incl. previous – separate financial

statements. end of 2020

Revise regulatory framework for compliance with

accrual accounting standards throughout government. 4th quarter 2020 Provide capacity building for accounting staff for the

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C

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2013P

C

OF

IPSASS

The following is reproduced from the European Commission’s 2013 Staff Working Document, accompanying the document Report from the Commission to the Council and the European Parliament towards implementing harmonised public sector accounting standards in Member States (/* SWD/2013/057 final */) final of March 6, 201385.

Annex 7.1: A possible classification of the IPSAS standards

Taking into account that a number of accounting-related technical issues are seen as problematic in the IPSAS standards, as described in Chapter 6, the IPSAS standards might be grouped as follows:

● Standards that might be implemented with minor or no adaptation;

● Standards that need adaptation, or for which a selective approach is needed; ● Standards that are seen as needing to be amended for implementation.

Eurostat drafted the proposed groups taking into account the views of Member State experts in the Task Force on IPSAS. Note that experts’ views on the suitability of some IPSAS standards may differ and therefore this proposal is preliminary and that needs further technical discussion with accounting experts. Note, too, that these proposals refer to the applicability of the standards themselves, and not their consistency with ESA.

Standards that might be implemented with minor or

no adaptation

Standards that need adaptation, or for which a selective approach is needed

Standards that are seen as needing to be amended for

implementation

IPSAS 1 — Presentation FS86 IPSAS 7 — Investments in associates – standard withdrawn

IPSAS 6 — Consolidated financial statements – standard withdrawn IPSAS 2 — Cash flow IPSAS 8 — Interests in joint

ventures – standard withdrawn

IPSAS 28 — Financial instruments: Presentation87 IPSAS 3 — Fundamental

errors and changes in accounting policies88

IPSAS 13 — Leases IPSAS 29 — Financial instruments: Recognition and measurement89

IPSAS 4 — Changes in foreign exchange rates

IPSAS 15 — Financial instruments: Presentation – standard withdrawn IPSAS 30 — Financial instruments: Disclosure90 85 _{http://eur-lex.europa.eu/legal-content/EN/TXT/?uri=CELEX%3A52013SC0057} 86 _{Although experts perceive some disclosure issues as relevant.}

87 _{However, since IPSAS 28 deals with presentation it may be seen as less problematic than IPSASs 29 and 30.} 88 _{Experts point to a lack of guidance on determining accounting policy in the absence of a specific IPSAS.} 89 _{Accounting for financial instruments on a fair value basis on initial recognition is considered to be complex}

and problematic for some countries which currently use a nominal value basis even for measurement after initial recognition; specific areas considered problematic are hedge accounting, macro hedging and recognition at fair value for financial derivatives.

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IPSAS 5 — Borrowing costs IPSAS 17 — Property, plant and equipment

IPSAS 9 — Revenue from exchange transactions IPSAS 18 — Segment reporting IPSAS 10 — Hyperinflationary economies91

IPSAS 20 — Related party disclosures

IPSAS 11 — Construction contracts

IPSAS 21 — Impairment of non-cash-generating assets IPSAS 12 — Inventories IPSAS 22 — Disclosure

general government sector IPSAS 14 — Events after the

reporting date

IPSAS 23 — Revenue from non-exchange transactions92 IPSAS 16 — Investment property IPSAS 24 — Presentation of budget information IPSAS 19 — Provisions, contingent liabilities, contingent assets93 IPSAS 25 — Employee benefits94– standard withdrawn

IPSAS 27 — Agriculture95 IPSAS 26 — Impairment of cash-generating assets IPSAS 32 — Service concessions IPSAS 31 — Intangible assets 91 _{Not relevant in the EU context.}

92_{Recognition of revenue related to taxes, accounting for grants according to distinction criteria for conditions}

and restrictions and IT issues are all perceived as relevant by some countries.

93 _{Determining a discount (market) rate to apply in calculating the present value of the provision is perceived as}

difficult, notably with regard to long-lived provisions (e.g. nuclear decommissioning).

94_{The difficult areas are pensions, and to a lesser extent, other long-term benefits such as long-service leave,}

which represent a large problematic part of the standard.

95 _{Not seen as material for some countries. There is a lack of guidance on the accounting treatment of land or}

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