Accrual Basis of Accounting (IPSAS 1): The accounting basis on which transactions and events are recognized when they occur, regardless of when cash is received or paid.

Accrued Expenses (IPSAS 1): Expenses incurred but not yet paid or recorded at the statement of financial position date, under the accrual basis of accounting.

Accrued Revenue (IPSAS 9): Revenue that has been earned but not yet received in cash or other assets, recognized under the accrual basis of accounting.

Borrowing Costs (IPSAS 5): Interest and other costs incurred by an entity in connection with the borrowing of funds.

Budget Deficits (IPSAS 24): Occurs when an entity’s budgeted expenditures exceed its budgeted revenues for a specific period, typically a fiscal year.

Budgetary Control (IPSAS 24): The control mechanisms put in place to compare actual spending with budgets, ensuring financial resources are used as intended.

Cash Basis IPSAS: The cash basis of accounting under which transactions and other events are recognized when cash is received or paid.

Cash Equivalents (IPSAS 2): Short-term, highly liquid investments that are readily convertible to known amounts of cash and subject to an insignificant risk of changes in value.

Consolidated Financial Statements (IPSAS 6): Financial statements that present the financial position, financial performance, and cash flows of an economic entity as a single entity, including all controlled entities.

Deferred Income (IPSAS 23): Income received for which the related assets or services have not yet been provided. It is reported as a liability until the recognition criteria are met.

Depreciation (IPSAS 17): The systematic allocation of the depreciable amount of an asset over its useful life.

Discount Rate (IPSAS 19): The rate used to discount estimated future cash outflows and inflows to their present value when calculating the carrying amount of a liability or an asset.

Employee Benefits (IPSAS 25): All forms of consideration given by an entity in exchange for service rendered by employees, including wages, salaries, and social security benefits.

Entity Assets (IPSAS 17): Assets that are recognized in the statement of financial position when it is probable that future economic benefits or service potential will flow to the entity.

Entity-Specific Value (IPSAS 21): The present value of the cash flows that an entity expects to derive from the continuing use of an asset and from its ultimate disposal.

Exchange Gains and Losses (IPSAS 4): Gains and losses resulting from changes in exchange rates between the functional currency and foreign currencies.

Exchange Rate Effects (IPSAS 4): The effects on financial statements resulting from fluctuations in foreign exchange rates.

Expenditure Recognition (IPSAS 1): Recognizing expenses when the decrease in future economic benefits or service potential related to a decrease in an asset or an increase of a liability has occurred and can be measured reliably.

Fair Value (IPSAS 32): The price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date.

Fair Value Measurement (IPSAS 41): The price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date.

Financial Guarantee Contracts (IPSAS 29): Contracts that require the issuer to make specified payments to reimburse the holder for a loss it incurs because a specified debtor fails to make a payment when due.

Government Business Enterprises (IPSAS 1): Entities that are controlled by government, and operate to meet public needs through the production of goods and services, but can also produce income.

Government Finance Statistics (IPSAS 22): Statistics that provide systematic information about the financial activities of governments, enabling users to evaluate the financial position and operations of the public sector.

Government Grants (IPSAS 23): Assistance by government in the form of transfers of resources to an entity in return for past or future compliance with certain conditions relating to the operating activities of the entity.

Heritage Assets (IPSAS 17): Assets with historical, cultural, environmental, or educational value that are held indefinitely by a public sector entity for their contribution to knowledge and culture.

Heritage Assets Recognition (IPSAS 17): The process of recognizing and measuring heritage assets, which are assets with historical, cultural, environmental, or educational importance.

Hyperinflationary Economies (IPSAS 10): Accounting in economies subject to hyperinflation, requiring the restatement of financial statements in terms of the measuring unit current at the financial statement date.

Impairment of Assets (IPSAS 21): A process that identifies and recognizes a loss in the recoverable service amount of an asset, whether from physical damage, obsolescence, or other factors.

Impairment of Cash-Generating Assets (IPSAS 26): The process of determining whether a cash-generating asset is impaired and recognizing an impairment loss if the carrying amount exceeds its recoverable amount.

Investment Property (IPSAS 16): Property held to earn rentals or for capital appreciation or both, rather than for use in the production or supply of goods or services.

Joint Arrangements (IPSAS 37): Arrangements involving two or more parties that undertake an economic activity subject to joint control.

Joint Control (IPSAS 8): Contractually agreed sharing of control over an economic activity, which exists only when decisions about the relevant activities require the unanimous consent of the parties sharing control.

Jointly Controlled Operations (IPSAS 8): A joint arrangement whereby the activities are controlled jointly by the parties that participate in the arrangement, with no separate vehicle formed.

Key Assumptions Underlying the Budget (IPSAS 24): The principal assumptions used as a basis for the budgeting process, required to be disclosed under IPSAS.

Key Management Personnel (IPSAS 20): Those persons having authority and responsibility for planning, directing, and controlling the activities of the reporting entity.

Kilometer Tax (IPSAS 23): A hypothetical tax example often used to illustrate government revenue from transportation taxes directly tied to usage.

Lease Term (IPSAS 13): The non-cancellable period for which a lessee has contracted to lease an asset, together with any further terms for which the lessee has the option to continue the lease, when at inception there is reasonable certainty that the lessee will exercise that option.

Liabilities (IPSAS 19): Present obligations of the entity arising from past events, the settlement of which is expected to result in an outflow from the entity of resources embodying economic benefits or service potential.

Liability Adequacy Test (IPSAS 25): A test required for insurance contracts to ensure that the recognized insurance liabilities are adequate to cover expected claims.

Measurement After Recognition (IPSAS 17): Policies and practices related to the subsequent measurement of assets, including depreciation methods, residual values, and useful lives.

Measurement Bases (IPSAS 1): The various bases such as historical cost, current cost, net realizable value, and fair value used to measure the elements of financial statements.

Monetary Items (IPSAS 4): Units of currency held and assets and liabilities to be received or paid in a fixed or determinable number of units of currency.

Net Debt (IPSAS 28): A measure that provides an indication of the future revenue streams required to repay borrowings and other obligations.

Net Debt Reporting (IPSAS 28): The reporting of the amount of net debt, which includes the gross debt less amounts of cash and cash equivalents.

Non-exchange Transactions (IPSAS 23): Transactions that are not exchange transactions, in which an entity receives value from another entity without directly giving approximately equal value in exchange.

Operating Performance Measures (IPSAS 1): Metrics used to assess the efficiency and effectiveness with which an entity uses its resources in achieving its objectives.

Operating Segments (IPSAS 18): Components of a public sector entity that engage in business activities from which they may earn revenues and incur expenses.

Operational Assets (IPSAS 17): Property, plant, and equipment used by the entity in the production or supply of goods and services, for rental to others, or for administrative purposes.

Performance Reporting (IPSAS 1): Reporting that involves the provision of financial and non-financial information to assist users in assessing the entity’s service performance.

Property, Plant, and Equipment (PP&E) (IPSAS 17): Tangible items that are held for use in the production or supply of goods or services, rental to others, or for administrative purposes and expected to be used during more than one period.

Provisions (IPSAS 19): Liabilities of uncertain timing or amount, where an obligation exists that will likely require an outflow of resources.

Quality Control of Financial Information (IPSAS 1): The processes and procedures in place to ensure that the financial information reported is accurate, complete, and free from material misstatement.

Quantitative Disclosures (IPSAS 30): Disclosures made in the financial statements that provide numerical information about an entity’s financial position, performance, and cash flow.

Receivables (IPSAS 9): Amounts owed to the entity by other parties that are expected to be paid to the entity within normal operating cycles, or one year.

Recognition of Elements of Financial Statements (IPSAS 1): The process of incorporating in the financial statements the elements that meet the criteria for recognition: probability of future economic benefit and reliable measurability.

Related Party Disclosures (IPSAS 20): Requirements for the disclosure of the nature of related party relationships as well as information about transactions and outstanding balances with such parties.

Segment Liabilities (IPSAS 18): Liabilities that are directly attributable to a segment or that can be allocated to a segment on a reasonable basis.

Segment Reporting (IPSAS 18): An accounting requirement that information about reportable segments be disclosed in order to help users of financial statements better understand an entity’s performance.

Tangible Assets (IPSAS 17): Physical, non-monetary assets of the entity that are expected to be used during more than one reporting period and have a physical substance.

Tangible Capital Assets (IPSAS 17): Assets that have physical substance, are held for use in the production or supply of goods or services, for rental to others, or for administrative purposes.

Tax Revenues (IPSAS 23): Revenues arising from compulsory levies imposed on individuals and entities by a government within its jurisdiction.

Unearned Revenue (IPSAS 9): Revenue recognized before it is earned under the accrual basis of accounting, recorded as a liability until earned.

Useful Economic Life (IPSAS 17): The period over which an asset is expected to be economically useful to the entity or the number of production units expected to be obtained.

Useful Life (IPSAS 17): The period over which an asset is expected to be available for use by the entity, or the number of production units expected to be obtained from it.

Valuation Adjustments (IPSAS 17): Adjustments made to change the carrying amount of an asset to its recoverable amount.

Valuation Techniques (IPSAS 31): The methods and assumptions applied in estimating the fair values of assets and liabilities.

Valuation Techniques for Fair Value (IPSAS 41): Techniques that include the market approach, cost approach, and income approach used to measure fair value.

Whole of Government Accounts (IPSAS 34): Consolidated financial statements of all government entities controlled by the central government, providing a comprehensive view of the economic activities of the entire government.

Whole of Government Financial Statements (IPSAS 36): Financial statements that aggregate the financial information of all entities controlled by the government, providing a comprehensive view of the economic activities of the government.

Working Capital Management (IPSAS 2): Managing the short-term assets and liabilities to ensure the entity can operate effectively and meet its obligations as they fall due.


Year-end Adjustments (IPSAS 1): Adjustments made at the end of the accounting period to reflect the correct financial position and performance of the entity.

Year-end Financial Reporting (IPSAS 1): The preparation of financial statements at the end of the fiscal year that reflect the financial position, performance, and cash flows of the entity.

Year-End Financial Statements (IPSAS 1): Statements prepared at the end of an accounting period to reflect the financial position and operating results for the entire period.

Zero-Based Budgeting (IPSAS 24): A method of budgeting in which all expenses must be justified and approved for each new period.

Zero-Coupon Bonds (IPSAS 28): Bonds that do not pay periodic interest and are issued at a discount, with the return generated by the difference between the purchase price and the maturity value paid at the end of the term.