The exposure draft, Revenue from Non-Exchange Transactions (Including Taxes and Transfers) deals with the basis on which different kinds of taxes should be recognised and how they should be measured. The ED also addresses accounting for other major sources of non-exchange revenue for public sector entities, including transfers from other governments and international organisations, and gifts and donations. The ED also provides guidance on how conditions and restrictions on the use of transferred resources are to be reflected in the financial statements. The IPSASB requests comments on the ED by 30 June 2006. The ED may be viewed by going to IPSASB's Website. Click for the Press Release (PDF 80k).

Topics covered include:

• Amendments to Australian Accounting Standards AASB 121, 1023, 139, and 124, and AAS 25.
• Introduction of Australian Accounting Standard AASB 7.
• IFRIC Interpretations.
• UIG Interpretations 4, 5, 6, and 1052 and UIG Guidance.
• ASIC releases and amendments since 30 June 2005.

The newsletter reports on the 4th quarter 2005 activities of the IASB, the IFRIC, and the IASC Foundation, and also on worldwide issues and events relating to international financial reporting. The Asia-Pacific edition has the same 24-page news content as the Global Edition plus 11 pages of accounting standards updates for the Asia-Pacific region.

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You will find all Past IAS Plus Issues Here.

He served on the Standards Advisory Council from 2001 to 2005. Click for:

• Press Release (PDF 62k).
• Complete List of Trustees.