Department of Corporate and Information Services annual report 2015-16
Northern Territory. Department of Corporate and Information Services
E-Publications; E-Books; PublicationNT; Department of Corporate and Information Services annual report; Annual report
2016
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
2015/2016
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/10070/264506
https://hdl.handle.net/10070/468264
N T F LE E T 150 Department of Corporate anD InformatIon ServICeS | AnnuAl RepoRt 2015-16 Standard/Interpretation Effective for annual reporting periods beginning on or after Impact AASB 15 Revenue from Contracts with Customers 1 January 2018 Requires an entity to recognise revenue when the entity satisfies a performance obligation by transferring a promised good or service to a customer. AASB 2014-1 Amendments to Australian Accounting Standards [Part E Financial Instruments] 1 January 2018 Amends various AASs to reflect the deferral of the mandatory application date of AASB 9 AASB 2014-4 Amendments to Australian Accounting Standards - Clarification of Acceptable Methods of Depreciation and Amortisation [AASB 116 and AASB 138] 1 January 2016 Provides additional guidance on how the depreciation or amortisation of property, plant and equipment and intangible assets should be calculated and clarifies that the use of revenue-based methods to calculate the depreciation of an asset is not appropriate. AASB 2014-5 Amendments to Australian Accounting Standards arising from AASB 15 1 January 2017 Amends the measurement of trade receivables and the recognition of dividends. AASB 2014-7 Amendments to Australian Accounting Standards arising from AASB 9 1 January 2018 Amends various AASs to reflect the changes as a result of AASB 9 AASB 2014-9 Amendments to Australian Accounting Standards - Equity Method in Separate Financial Statements [AASB 1, 127 and 128] 1 January 2016 Allows an entity to account for investments in subsidiaries, joint ventures and associates in its separate financial statement at cost or using the equity method. AASB 2015-1 Amendments to Australian Accounting Standards - Annual Improvements to Australian Accounting Standards 2012-14 Cycle [AASB 1, 2, 3,5, 7, 11, 110, 119, 121, 133, 134,137 and 140] 1 January 2016 The amendments include AASB 5 change in methods of disposal; AASB 7 Servicing contracts and applicability of the amendments to AASB 7 to condensed interim financial statements; AASB 119 Discount rate: regional market issue and AASB 134 Disclosure of information elsewhere in the interim financial statements. c) Reporting Entity The financial statements cover the NT Fleet as an individual reporting entity. NT Fleet is a Northern Territory Government Business Division established under the Interpretation Act Administrative Arrangements Order. The principal place of business of the Department is: Lot 5441 Armidale Street, Woolner NT 0820. d) Agency and Territory Items The financial statements of NT Fleet include income, expenses, assets, liabilities and equity over which NT Fleet has control (agency items). Certain items, while managed by the agency, are controlled and recorded by the Territory rather than the agency (Territory items). Territory items are recognised and recorded in the Central Holding Authority as discussed below. Central Holding Authority NT Fleet held no Territory items.