This paper addresses the International Public Sector Accounting Standard IPSAS 1 - Financial Statements, considered one of the most important standards issued by IPSASB, as it contains the accounting rules for recognizing and measuring a position present in the financial statements of public institutions, as well as the accounting rules preparation of financial statements. The object of this study is to analyze the way of transposing the patrimonial elements on the occasion of the first adoption of IPSAS within the Opening Balance Sheet. The development of International Public Sector Standards is based on International Financial Reporting Standards (IFRS) applicable to the private sector, and the stated purpose is for public entities to prepare financial reports that provide qualitative, transparent and comparable information, in order to increase accountability decisions.