Department of Construction and Infrastructure annual report 2010-2011
Northern Territory. Department of Construction and Infrastructure
E-Publications; PublicationNT; E-Books; Department of Construction and Infrastructure annual report; Annual Report
Made available by the Library & Archives NT via the Publications (Legal Deposit) Act 2004 (NT)
Northern Territory. Department of Construction and Infrastructur; Public works; Construction industry; Infrastructure (Economics); Periodicals; Annual report
Northern Territory Government
Department of Construction and Infrastructure annual report; Annual Report
Department of Infrastructure
Department of Planning and Infrastructure
Attribution International 4.0 (CC BY 4.0)
Northern Territory Government
Department of Construction and Infrastructure Financial Report 2010-2011 83 Standard/ Interpretation Summary Effective for annual reporting periods beginning on or after Impact on financial statements AASB 2010-5 Amendments to Australian Accounting Standards [AASB 1, 3, 4, 5, 101, 107, 112, 118, 119, 121, 132, 133, 134, 137, 139, 140, 1023 & 1038 and Interpretations 112, 115, 127, 132 & 1042] Makes numerous editorial amendments to a range of Standards and Interpretations 1 Jan 2011 Minimal effect on the financial statements. AASB 2010-6 Amendments to Australian Accounting Standards Disclosures on Transfers of Financial Assets Amends AASB 7 Financial Instruments: Disclosures, introducing additional disclosures designed to allow users of financial statements to improve their understanding of transfer transactions of financial assets 1 July 2011 Minimal effect on the financial statements. AASB 9 Financial instruments, AASB 2009-11 Amendments to Australian Accounting Standards arising from AASB 9, AASB 2010-7 Amendments to Australian Accounting Standards arising from AASB 9 (Dec 2010) AASB 9 simplifies requirements for the classification and measurement of financial assets and liabilities resulting from Phase 1 of the IASBs project to replace IAS 39 Financial instruments: recognition and measurement (AASB 139 Financial Instruments: recognition and measurement). 1 Jan 2013 Minimal effect on the financial statements. c) Agency and Territory Items The financial statements of Department of Construction and Infrastructure (DCI) include income, expenses, assets, liabilities and equity over which DCI has control (Agency items). Certain items, while managed by the DCI, 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 The Central Holding Authority is the parent body that represents the Governments ownership interest in Government controlled entities. The Central Holding Authority also records all Territory items, such as income, expenses, assets and liabilities controlled by the Government and managed by Agencies on behalf of the Government. The main Territory item is Territory income, which includes taxation and royalty revenue, Commonwealth general purpose funding (such as GST revenue), fines, and statutory fees and charges. The Central Holding Authority also holds certain Territory assets not assigned to Agencies as well as certain Territory liabilities that are not practical or effective to assign to individual Agencies such as unfunded superannuation and long service leave. The Central Holding Authority recognises and records all Territory items, and as such, these items are not included in the Agencys financial statements. However, as the Agency is accountable for certain Territory items managed on behalf of Government, these items have been separately disclosed in note 20 - Schedule of Territory Items. d) Comparatives Where necessary, comparative information for the 2009-10 financial year has been reclassified to provide consistency with current year disclosures. e) Presentation and Rounding of Amounts Amounts in the financial statements and notes to the financial statements are presented in Australian dollars and have been rounded to the nearest thousand dollars, with amounts of $500 or less being rounded down to zero. f) Changes in Accounting Policies There have been no changes to accounting policies adopted in 2010-11 as a result of management decisions. NOTES TO THE FINANCIAL STATEMENTS For the year ended 30 June 2011 NOTES TO THE FINANCIAL STATEMENTS For the year ended 30 June 2011
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.
You are welcome to provide further information or feedback about this item by emailing TerritoryStories@nt.gov.au