Territory Stories

Annual Report 1992-1993 Northern Territory Liquor Commission

Details:

Title

Annual Report 1992-1993 Northern Territory Liquor Commission

Other title

Tabled Paper 1759

Collection

Tabled Papers for 6th Assembly 1990 - 1994; Tabled Papers; ParliamentNT

Date

1993-10-19

Description

Deemed

Notes

Made available by the Legislative Assembly of the Northern Territory under Standing Order 240. Where copyright subsists with a third party it remains with the original owner and permission may be required to reuse the material.

Language

English

Subject

Tabled papers

File type

application/pdf

Use

Copyright

Copyright owner

See publication

License

https://www.legislation.gov.au/Details/C2021C00044

Parent handle

https://hdl.handle.net/10070/292630

Citation address

https://hdl.handle.net/10070/398525

Page content

Northern Territory Liquor Commission NOTES TO AND FORMING PART OF THE FINANCIAL STATEMENTS 30 JUNE 1993 As from 28 February 1992 the Commission is subject to the policy directions o f the Chief Minister, the Hon. Marshall B Perron, MLA and prior to that date to the Minister fo r Industries and Development, the Hon. Steve Hatton, MLA. Since 1 July 1993 the Hon. Eric Poole, MLA, is the Minister responsible fo r the Northern Territory Liquor Commission. NOTE 1: STATEMENT OF SIGNIFICANT ACCOUNTING POLICIES Set out below is a summary of the significant accounting policies adopted by the Commission in the preparation of the accounts. (a) Basis of Accounting The Commission is a prescribed statutory corporation for the purposes of the Financial Administration and Audit Act. Accordingly it must keep proper accounts and records of its transactions and affairs in accordance with the accounting principles generally applied in commercial practice. These principles comply with the accounting standards and disclosure requirements of the Australian accounting bodies, applicable Accounting Standards, the provisions of Schedule 5 to the Corporations Regulations. The financial statements have been prepared using accrual accounting on the basis of historical costs and do not take into account changing money values nor, except where stated, current valuations of non-current assets. The accounting policies have been consistently applied. (b) Government Appropriations Contributions made by the Government by way of appropriations for both operational and capital purposes are classified as revenues in the Revenue and Expense Statement. (c) Income Tax The Liquor Commission is a public authority within the meaning of Section 23(d) of the Income Tax Assessment Act and its income is exempt under provisions of that Act. Annual Report 1993 Page 26


Aboriginal and Torres Strait Islander people are advised that this website may contain the names, voices and images of people who have died, as well as other culturally sensitive content. Please be aware that some collection items may use outdated phrases or words which reflect the attitude of the creator at the time, and are now considered offensive.

We use temporary cookies on this site to provide functionality.
By continuing to use this site without changing your settings, you consent to our use of cookies.