AAS 27: a survey of local government views

Article Abstract:

The Australian Public Sector Accounting Standards Board has allowed implementation of AAS 27 Financial Reporting by Local Governments to be delayed until June 2000. The law concerns taxation of public lands under structures. Municipalities and accountants surveyed reported difficulty in estimating the value of such lands. Twenty percent agreed with the law; ten percent thought implementation would be costly and of little benefit, and others feel that these assets should be depreciated over a period of time so they can be of benefit to the community.

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Loans and social security

Article Abstract:

Arrangements for loans and personal debts can change requirements for social security beneficiaries in addition to the usual income and assets tests that apply for recipients. Loans can reduce asset market value when assets are assessed and loans secured against assets are taken into account, as well. Financial planners also need to be aware of excluded security loans, unsecured loans, loan guarantors, and borrowings that may be me construed as income.

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Riding the rate rollercoaster

Article Abstract:

Guidance for borrowers on alternative methods of raising funds is presented. The effective costs of funds are compared and the advantages and risks of a layered swap and a smart cap are examined.

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