Treasury of the Republic of Cyprus


Following the Council of Ministers’ decision to make the transition to the accruals basis of accounting, the Treasury of the Republic of Cyprus is revising the accounting policies to comply with the provisions of IPSAS Standards. According to the procedures set by the government, the Technical Project Steering Board has approved the new accounting policies, following consultation with all Line Ministries.

The accounting policies approved so far are listed below.



1Download Acrobat fileReporting and Presentation
1Download Acrobat fileAccounting Policies, Changes in Accounting Estimates and Errors
1Download Acrobat fileThe Effects of Changes in Foreign Exchange Rates
1Download Acrobat fileEvents after the Reporting Date
1Download Acrobat fileSegment Reporting
1Download Acrobat fileRelated Party Disclosures
1Download Acrobat fileDisclosure of Financial Information about the General Government Sector
1Download Acrobat filePresentation of Budget Information in Financial Statements
1Download Acrobat fileConsolidated Financial Statements
1Download Acrobat fileSeparate Financial Statements
1Download Acrobat fileInvestments in Associates and Joint Ventures
1Download Acrobat fileJoint Arrangements
1Download Acrobat fileDisclosure of Interests in Other Entities
1Download Acrobat filePublic Sector Combinations
1Download Acrobat fileProperty, Plant and Equipment
1Download Acrobat fileLeases
1Download Acrobat fileImpairment Review - Cash Generating Assets
1Download Acrobat fileImpairment Review - Non-Cash Generating Assets
1Download Acrobat fileService Concession Arrangements
1Download Acrobat fileIntangible assets
1Download Acrobat fileInventories
1Download Acrobat fileRevenue from Exchange Transactions
1Download Acrobat fileRevenue from Non-Exchange Transactions
1Download Acrobat fileConstruction contracts
1Download Acrobat fileAccruals and Expenses
1Download Acrobat fileGrants and Other Transfers
1Download Acrobat fileEmployee Benefits
1Download Acrobat fileProvisions, Contingent Liabilities and Contingent Assets
1Download Acrobat fileFinancial Instruments
1Download Acrobat fileSocial Benefits
1Download Acrobat fileSocial Welfare Benefits