Department of Corporate and Information Services annual report 2016-17
Annual report 2016-17
Northern Territory. Department of Corporate and Information Services
E-Publications; E-Books; PublicationNT; Department of Corporate and Information Services annual report; Annual report
2017
Made available by the Library & Archives NT via the Publications (Legal Deposit) Act 2004 (NT).
English
Northern Territory. Department of Corporate and Information Services -- Periodical
Northern Territory Government
Darwin
Department of Corporate and Information Services annual report; Annual report
2016/2017
application/pdf
1835-2332
Attribution International 4.0 (CC BY 4.0)
Northern Territory Government
https://creativecommons.org/licenses/by/4.0
https://hdl.handle.net/10070/304926
https://hdl.handle.net/10070/361114
Annual Report 2016-17 | Department of Corporate and Information Services 215 DATA CENTRE SERVICES FINANCIAL REPORT Market Sensitivity Analysis Changes in the variable rates of 100 basis points (1 per cent) at reporting date would have the following effect on DCS profit or loss and equity. Profit or Loss and Equity 100 basis points increase 100 basis points decrease $000 $000 30 JUNE 2017 Financial assets cash at bank 108 (108) Net Sensitivity 108 (108) 30 JUNE 2016 Financial assets cash at bank 169 (169) Net Sensitivity 169 (169) (ii) Price Risk DCS is not exposed to price risk as DCS does not hold units in unit trusts. (iii) Currency Risk DCS has limited exposure to currency risk, as DCS does not hold borrowings denominated in foreign currencies, and has limited transactional currency exposures arising from purchases in a foreign currency. e) NET FAIR VALUE Fair value is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. Fair value measurement of a non-financial asset takes into account a market participants ability to generate economic benefits by using the asset in its highest and best use or by selling it to another market participant that would use the asset in its highest and best use. The highest and best use takes into account the use of the asset that is physically possible, legally permissible and financially feasible. When measuring fair value, the valuation techniques used maximise the use of relevant observable inputs and minimise the use of unobservable inputs. Unobservable inputs are used to the extent that sufficient relevant and reliable observable inputs are not available for similar assets/liabilities. Observable inputs are publicly available data that are relevant to the characteristics of the assets/liabilities being valued. Observable inputs used by DCS include, but are not limited to, published sales data for land and general officebuildings. Unobservable inputs are data, assumptions and judgments that are not available publicly, but are relevant to the characteristics of the assets/liabilities being valued. Such inputs include internal DCS adjustments to observable data to take account of particular and potentially unique characteristics/functionality of assets/liabilities and assessments of physical condition and remaining useful life. All assets and liabilities for which fair value is measured or disclosed in the financial statements are categorised within the following fair value hierarchy based on the inputs used: Level 1 inputs are quoted prices in active markets for identical assets or liabilities Level 2 inputs are inputs other than quoted prices included within Level 1 that are observable for the asset or liability, either directly or indirectly Level 3 inputs are unobservable.