AMMAN --- January 24, 2011 --- The Arab Society of Certified Accountants (ASCA-Jordan) has issued the latest Arabic translated edition of the International Public Sector Accounting Standards (IPSAS) 2010 after approving the amendments by the IPSASB, in its endeavor to cope with the latest developments in accounting and auditing fields, as well as its interest in accounting publications being the sole accredited body for these publications in Arabic.

These amendments are:-

(A) Finalization the following Standards which are included in this Handbook:-
• IPSAS 27, “Agriculture”
• IPSAS 28, “Financial Instruments: Presentation”
• IPSAS 29, “Financial Instruments: Recognition and Measurement”
• IPSAS 30, “Financial Instruments: Disclosures”
• IPSAS 31, “Intangible Assets”

These Standards are effective from the dates referred to in the Standards.

(B) A number of IPSASs were amended as a result of the IPSASB’s Improvements Project; namely (1, 2, 3, 7, 8, 10, 14, 16, 17, 25 and 26). This Project involves making non-urgent but necessary changes to IPSASs as a result of changes made by the IASB to various IFRSs.

These amendments are effective for annual financial statements covering periods beginning on or after January 1, 2011.