DG & AB Maxwell

Consulting Accountants

Specialists in
Local Government
Management,
Administration & Finance

PO Box 5450
Wagga Wagga NSW 2650

Mob: 0408 293 396
Tel: 02 6925 5646
Fax: 02 6925 5647

Email: davemax@ozemail.com.au

ABN 34 065 129 377
RBN 97 777 727

Welcome! We're glad you chose to join us

Please select a link from above to learn more about the ways we can help you


INTEREST RATES for PRESENT VALUE calculations

Government Securities Interest Rates for the calculation of present values for employee benefits and other discounted cash flow calculations as at 31 December 2015. click here.
For 30 June 2015 - click here.
For previous year rates click here

We wish everyone the best as they enter this challenging period, and will provide all the assistance that we can.


Income for Not-for-Profit Entities

To view our submission to the AASB for ED 260 click here
To view other submissions we have made, click here


2015 NSW Financial Statements templates

It's now time to order your copy of the 2015 NSW Annual Financial Statements templates!
Released - 22 July 2015.
Our templates comply with AASB 2015-7 - Circular 15-30 can be ignored. For order form click here


2015 SA Financial Statements templates


2015 Annual Financial Statements templates released 4 June 2015.

For order forms click here
2015 Model Statements available for download - click here


2015 NT Financial Statements templates

2015 NT Annual Financial Statements templates released 12 June 2015. .
For order forms click here


RESIDUAL VALUES

We have been seeking to clarify an appropriate interpretation of "residual value" in a local government environment.
For the submission that started it all and the subsequent story click here.



SA Annual Statements Training Courses

Our training course schedule for 2015 has now been completed - for further information click here



NSW Rates Officer Training

Specialist training for NSW Rates Officers - a three day course covering all aspects of this position.

Our next 3-day course is scheduled for the week of 7 - 11 September 2015.
Expressions of interest for attendance are now open.

NSW Code update #23

There are parts of the draft Code update #23 that do not particularly impress us - see our comments click here
For other submissions click here.




For registrations and further details click here.

NSW RATES ADMINISTRATION CLUEBOOK

Coalface® Cluebooks™ are an entirely new concept in the provision of practical assistance to Council staff.
References to legislation, regulations, circulars and case law are located together in logical topic order, to permit you to quickly get to the heart of the problem and identify the authoritative source.
click here


NSW Annual Statements Award 2013

Winner of this year's Award - Wagga Wagga City Council

For the Judges' comments, and to view the Roll of Honour - past winners and honourable mentions - click here.


NSW Rates Overview Training Course

An introduction to the NSW Rates system especially designed for customer service officers and front counter staff.

The course is not suitable for personnel who will be undertaking Rates Officer duties.

For further details about arranging a course for your Council click here.


SA Annual Statements Training Courses

Our training course schedule for 2015 has now been completed - for further information click here


LONG TERM FINANCIAL PLAN

We are proud to announce that the SALG Financial Management Group Inc. have appointed Coalface as sole distributors of the Long Term Financial Planning model developed to their specifications.

This Model is distributed free of charge to all SA Councils, and is being made available to Councils in other States at nominal cost.

For further information and order forms, click here

For development updates, and to check that you are using the latest version, click here

Leases

As part of the harmonisation between IASs and GAAPs (US), the IASB and FASB are proposing major changes in accounting for leases.
Exposure Draft ED 202 is the Australian exposure of their proposals.
To view our submission to the AASB click here


Income from Non-Exchange Transactions (Taxes and Transfers)

Since AAS 27 first came on the scene, the treatment of grants revenue has been an ongoing bone of contention.
This exposure draft gives us a chance to make sure that the AASB gets it right!
To view our submission to the AASB click here


Australian Infrastructure Financial Management Guidelines

IPWEA (Institute of Public Works Engineering Australia) have released these guidelines and we understand that they are now - or soon will be - the required minimum professional standard for use by their members.
The guidelines provide straightforward explanations of the accounting implications of the engineering facts, and we think provide a sound link.
For accountants it will be much easier to refer our engineering colleagues to the IPWEA guidelines, than to fossick through the Accounting Standards.
After a quick read, we feel that the accounting contents are quite suitable, and we only have qualms about petty detail that won't affect the broad picture.

We encourage all Councils to ensure that the guidelines are followed. Copies are available from www.ipwea.org.au/AIFMG
They are quite pricey ($590 + post/handling + GST) but, we think, cheap at the price.

We expect that the various Codes, Model Statements, Manuals etc. in different jurisdictions will adopt many of the definitions in years to come.


ARE THE ENGINEERS TELLING ACCOUNTANTS HOW TO DO THEIR JOB? click here



LAND under ROADS - the saga continues

Councils in Northern Territory, Queensland, South Australia and Western Australia will NOT be recognising land under roads - either acquired before or after 1 July 2008.

Circular 09/25 (released 23 June) now gives New South Wales Councils the option on whether to recognise land under roads or not.
Consider carefully whether you have "a method of reliable measurement for fair value of land under roads ... on a sector-wide basis" before making an election to recognise, as it would be embarrassing to elect to recognise this year, and then reverse it.
Our annual statements templates will make provision for either election.

Our last information for Victoria is that a method of assessing a value for land under roads had been developed but adoption was being delayed due to concerns whether it provided a reliable basis.

We have prepared an analysis of the disclosures made by some NSW Councils for land under roads in their 2009 Statements. click here


 

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