12 December 2005 edition of LG "Debits & Credits"

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CONTENTS this issue:

1. Current Issues in “all things accounting and Local Government”
1.1 Dates to Remember This Month and Next for NSW Councils…
1.2 NSW DLG Circulars to note
1.3 What’s going on at the AASB Board!?


2. Australian International Financial Reporting Standards (AIFRS) Review

2.1 AASB 136 – Impairment of Assets
2.2 AASB 136 – LG Solutions “Top 10” Summary of Issues for the Impairment of Assets

2.3 AIFRS Topics to be covered in Future Editions


3. This Months Best Practice Guide

Introducing out Subscriber Compendiums;

a. AIFRS Reviews & “Top 10” Issues from a Local Government Perspective
b. Best Practice Guides on Selected Local Government Accounting Issues


4. This Edition’s Question & Answer

Practical Questions (and Answers) relating to Councils Investments under AIFRS:

Question 1 – An example Premium Amortisation of an FRN
Question 2 – Obtaining the Fair Values of Investments