It includes common financial ratios and works well for a two-year comparison.
As always, our working groups are busy on annual duties and the various one-off projects. The model statements have now been approved by the Minister. This group is also looking at providing supplementary information to Councils to clarify new Accounting Standards and other matters in relation to the Model Financial Statements.
Unfortunately, there is very little that we can do but wait for the ATO to process the multi rulings that have been lodged. The model is expected to be available later this calendar year. I would like to thank all the members of the work groups for their valuable time and effort in giving back to the Local Government sector.
The two day Workshop and Conference has been brought forward from early December to late November due to feedback that has previously been received and will hopefully make it a more convenient time for members to attend. Please save these dates in your calendars.
To all our sponsors, we thank you for your continual support. Without our sponsors we would not be able to provide our members the professional development and networking opportunities at our workshops and conferences. When requiring services for your organisation please ensure that you consider our sponsors as in this way they will be able to continue their support of the SALGFMG.
Rate of allowances now set by Remuneration Tribunal — see http: Deadline for Local Government Grants Commission returns. Last date for adoption of annual report for the preceding financial year. By Tim Muhlhausler The way that Councils, in their capacity as lessees, account for leases is changing.
The changes come into effect for the financial year — so why should you care about them now? The new standards completely change the way that lessees account for their leased assets.
This means that having an understanding of what lease arrangements are in place, and ensuring that documentation exists to support them, is more important than ever. The new requirements in a nutshell The major changes under the new standard AASB 16 impact on the lessee only, not the lessor.
Under existing standards, operating leases do not require the recognition of any asset or liability by lessees. This requirement applies to all leases with a term of more than 12 months subject to materiality. Additionally, when combined with income recognition requirements of new standard AASBany difference in value between the value of the right-of-use asset and the obligation to make lease repayments liability is recognised as income for leases with below-market terms e.
Accounting Entries In simple terms, the journal entries required will be: Lastly, keep your eyes open for the latest commentary in the Model Financial Statements — the finer details of required disclosures and transition method are still being determined, and will be detailed in future editions of the Model.
The information in this article is general in nature - if you would like more information on the potential impacts for your Council, please do not hesitate to give Tim from Galpins a call on The day was filled with great informative sessions with many participants giving us feedback that it was one of the best conferences that they had ever attended.
Please also save the date in your diary for our Workshop and Conference to be held on 29 and 30 November, at the Adelaide Oval with our keynote speaker Craig Reucassel, best known for his work on The Chaser. Have you recently heard a great presenter or would like to hear about a particular topic at a future conference?
This information will be consolidated into a comprehensive matrix to ensure that an ongoing accurate and compliant listing of GST treatment for fees and charges is available.
The work group continue to liaise with BDO and the Australian Taxation Office to achieve the outcomes of this project. For further information please contact Elizabeth Williams This email address is being protected from spambots.
Financial Management Framework Group The annual review of the Model Financial Statements is complete and the final version of the Model Financial Statements have been approved by the Minister. The document is made available for South Australian users as a recommended format and presentation for the financial statements, notes and other information.
It is intended use is a best practice model providing information on each of the required areas and for practical guidance includes some examples of the how, what, when, why and where. From time to time the group considers new and revised Accounting Standards where this joint review approach can benefit the wider LG sector for a suggested application.
For further information please contact Mark Lague This email address is being protected from spambots. In May, data in relation to a total ofdogs and 4, cats were successfully loaded into the system in readiness for go live.asp notes - Ebook download as PDF File .pdf), Text File .txt) or read book online.
Closing date: Application: Apply for the job Organization: FHI Country: Uganda Closing date: 19 Nov The Director of Capacity Strengtheningwill oversee capacity and institution strengthening for the anticipated Social and Behavior Change for Transformation (SBC4T) Project.S/he will direct the provision of technical assistance support to public and private organizations in a.
This Printable Business Form Template is available to download for free, or you can download the entire collection for only $ The free version is available in your choice of DOC or PDF formats. The DOC version can be opened, edited, and printed using Word, Google Docs, etc.
It’s hard to get real-world information about what jobs pay, especially tailored to a particular industry or geographic region. Online salary websites are often inaccurate, . ‘Not-for-Profit ‘or ‘Non Profit’ Organizations prepare Balance Sheet for ascertaining the financial position of the organization.
The preparation of their Balance Sheet is on the same pattern as that of the business entities. It shows assets and liabilities as at the end of the year. Assets. Administrative responsibilities Information for trustees appointed under the Bankruptcy Act Separate ABNs for trustees.
You will not be required to apply for an Australian business number (ABN) for every estate (bankrupt estates and agreements under Part IX and Part X) which you administer.