Public-sector accounting
Two frameworks here: IPSAS for international public-sector accrual reporting, and the Dutch BBV for municipal and provincial budgeting and reporting.
IPSAS — International Public Sector Accounting Standards
IPSAS are issued by the International Public Sector Accounting Standards Board (IPSASB) under IFAC. They are accrual-basis standards for governments and public-sector entities; adoption is voluntary per jurisdiction but widely used. IPSAS is largely converged with IFRS for the public sector — most accrual IPSAS are adapted from a specific IAS/IFRS — and adds public-sector specifics (non-exchange revenue, social benefits, budget reporting) where IFRS has no equivalent.
List verified against the IPSASB 2025 Handbook. IPSAS 47 (Revenue) supersedes IPSAS 9, 11 and 23, effective 1 Jan 2026. Beyond IPSAS 49, the IPSASB has also issued IPSAS 50 (mineral resources), IPSAS 51 (natural resources held for conservation) and the sustainability standard SRS 1 (climate disclosures).
| IPSAS | Title | Based on | Source |
|---|---|---|---|
| 1 | Presentation of Financial Statements | IAS 1 | ipsasb.org |
| 2 | Cash Flow Statements | IAS 7 | ipsasb.org |
| 3 | Accounting Policies, Changes in Estimates and Errors | IAS 8 | ipsasb.org |
| 4 | The Effects of Changes in Foreign Exchange Rates | IAS 21 | ipsasb.org |
| 5 | Borrowing Costs | IAS 23 | ipsasb.org |
| 6 | Consolidated and Separate Financial Statements | IAS 27 | superseded by IPSAS 34 & 35 |
| 7 | Investments in Associates | IAS 28 | superseded by IPSAS 36 |
| 8 | Interests in Joint Ventures | IAS 31 | superseded by IPSAS 37 & 38 |
| 9 | Revenue from Exchange Transactions | IAS 18 | superseded by IPSAS 47 (1 Jan 2026) |
| 10 | Financial Reporting in Hyperinflationary Economies | IAS 29 | ipsasb.org |
| 11 | Construction Contracts | IAS 11 | superseded by IPSAS 47 (1 Jan 2026) |
| 12 | Inventories | IAS 2 | ipsasb.org |
| 13 | Leases | IAS 17 | superseded by IPSAS 43 |
| 14 | Events After the Reporting Date | IAS 10 | ipsasb.org |
| 15 | Financial Instruments: Disclosure and Presentation | IAS 32 | superseded by IPSAS 28/29/30 |
| 16 | Investment Property | IAS 40 | ipsasb.org |
| 17 | Property, Plant and Equipment | IAS 16 | superseded by IPSAS 45 (1 Jan 2025) |
| 18 | Segment Reporting | IAS 14 | ipsasb.org |
| 19 | Provisions, Contingent Liabilities and Contingent Assets | IAS 37 | ipsasb.org |
| 20 | Related Party Disclosures | IAS 24 | ipsasb.org |
| 21 | Impairment of Non-Cash-Generating Assets | public-sector specific | ipsasb.org |
| 22 | Disclosure of Financial Information About the General Government Sector | public-sector specific | ipsasb.org |
| 23 | Revenue from Non-Exchange Transactions (Taxes and Transfers) | public-sector specific | superseded by IPSAS 47 (1 Jan 2026) |
| 24 | Presentation of Budget Information in Financial Statements | public-sector specific | ipsasb.org |
| 25 | Employee Benefits | IAS 19 | superseded by IPSAS 39 |
| 26 | Impairment of Cash-Generating Assets | IAS 36 | ipsasb.org |
| 27 | Agriculture | IAS 41 | ipsasb.org |
| 28 | Financial Instruments: Presentation | IAS 32 | ipsasb.org |
| 29 | Financial Instruments: Recognition and Measurement | IAS 39 | superseded by IPSAS 41 |
| 30 | Financial Instruments: Disclosures | IFRS 7 | ipsasb.org |
| 31 | Intangible Assets | IAS 38 | ipsasb.org |
| 32 | Service Concession Arrangements: Grantor | cf. IFRIC 12 | ipsasb.org |
| 33 | First-time Adoption of Accrual Basis IPSAS | IFRS 1 | ipsasb.org |
| 34 | Separate Financial Statements | IAS 27 (2011) | ipsasb.org |
| 35 | Consolidated Financial Statements | IFRS 10 | ipsasb.org |
| 36 | Investments in Associates and Joint Ventures | IAS 28 (2011) | ipsasb.org |
| 37 | Joint Arrangements | IFRS 11 | ipsasb.org |
| 38 | Disclosure of Interests in Other Entities | IFRS 12 | ipsasb.org |
| 39 | Employee Benefits | IAS 19 | ipsasb.org |
| 40 | Public Sector Combinations | cf. IFRS 3 | ipsasb.org |
| 41 | Financial Instruments | IFRS 9 | ipsasb.org |
| 42 | Social Benefits | public-sector specific | ipsasb.org |
| 43 | Leases | IFRS 16 | IPSAS 43 |
| 44 | Non-current Assets Held for Sale and Discontinued Operations | IFRS 5 | ipsasb.org |
| 45 | Property, Plant, and Equipment | IAS 16 | IPSAS 45 |
| 46 | Measurement | cf. IFRS 13 | ipsasb.org |
| 47 | Revenue | IFRS 15 | IPSAS 47 |
| 48 | Transfer Expenses | public-sector specific | ipsasb.org |
| 49 | Retirement Benefit Plans | IAS 26 | IPSAS 49 |
Cash-Basis IPSAS: Financial Reporting Under the Cash Basis of Accounting (revised 2017) is a single standalone standard for entities not yet on full accrual — framed as a transitional stepping-stone. See Revised Cash Basis IPSAS.
Dutch BBV
The BBV (statute BWBR0014606, in force since 2004) is the Dutch decree governing
budgeting and financial reporting (begroting en verantwoording) for
municipalities and provinces. It mandates the accrual basis
(baten-lastenstelsel), the structure of the begroting (budget) and
jaarstukken (annual accounts), and the planning-and-control cycle. Binding
"stellige uitspraken" are issued by the Commissie BBV. From 2023 each
municipality must include a rechtmatigheidsverantwoording (legality
accountability statement) in its annual accounts.
Shillinq has a dedicated BBV compliance overlay for municipal administrations (taakveld catalogue, IV3 reporting, BCF/VAT compensation). The table below is the legal backbone.
| Article / topic | Scope | Source |
|---|---|---|
| Art. 1–6 — General provisions | Definitions, accounting principles, EMU-saldo | BWBR0014606 |
| Art. 7 — Opbouw begroting | Budget = beleidsbegroting (programmaplan + paragrafen) + financiële begroting | BWBR0014606 |
| Art. 8 — Programmaplan | Programmes: objectives, activities, estimated baten/lasten | BWBR0014606 |
| Art. 9 — Verplichte paragrafen | Mandates the cross-programme paragraphs | BWBR0014606 |
| Art. 10 — Lokale heffingen | Local levies/taxes paragraph | BWBR0014606 |
| Art. 11 — Weerstandsvermogen en risicobeheersing | Financial resilience and risk management | BWBR0014606 |
| Art. 12 — Onderhoud kapitaalgoederen | Maintenance of capital assets | BWBR0014606 |
| Art. 13 — Financiering | Financing / treasury | BWBR0014606 |
| Art. 14 — Bedrijfsvoering | Operations | BWBR0014606 |
| Art. 15 — Verbonden partijen | Connected/affiliated parties | BWBR0014606 |
| Art. 16 — Grondbeleid | Land policy | BWBR0014606 |
| Art. 17–21 — Overzicht baten en lasten & financiële positie | Revenue/expense overview and statement of financial position (incl. EMU-saldo, art. 20) | BWBR0014606 |
| Art. 22–23 — Meerjarenraming | Multi-year forecasts | BWBR0014606 |
| Art. 24–58b — Jaarstukken / jaarrekening | Annual accounts: overzicht baten en lasten (27), balans (30–50), toelichting (51–58) | BWBR0014606 |
| Art. 59–65 — Waardering, activeren en afschrijven | Valuation, capitalisation and depreciation of assets | BWBR0014606 |
| Commissie BBV | Issues interpretive guidance and stellige uitspraken | commissiebbv.nl |
US GASB — state & local government
The Governmental Accounting Standards Board (GASB), a board of the FAF, sets US GAAP for state and local governments (~90,000 entities and their pension systems) — the US counterpart to IPSAS and the Dutch BBV. GASB uses a distinctive dual model (government-wide accrual statements + fund-based modified accrual). Recent: GASB 103 (financial reporting model improvements, effective FY beginning after 15 Jun 2025) and GASB 105 (subsequent events).
| Element | What it is | Source |
|---|---|---|
| GASB Statements | Authoritative US state/local government GAAP | gasb.org |
| GASB 34 | The financial reporting model (government-wide + fund statements) | gasb.org |
| GASB 103 | Financial reporting model improvements (FY2025/26) | gasb.org |
You already ship IPSAS and the Dutch BBV; GASB is the symmetric US public-sector basis.
US FASAB — federal government
The Federal Accounting Standards Advisory Board (FASAB) sets accounting standards for the US federal government and its agencies (under the CFO Act). Niche — relevant only to federal-agency / government-contractor customers.
| Element | What it is | Source |
|---|---|---|
| FASAB Handbook (SFFAS) | Statements of Federal Financial Accounting Standards | fasab.gov |