Territory Stories

Annual report 2003-2004, Department of Corporate and Information Services

Details:

Title

Annual report 2003-2004, Department of Corporate and Information Services

Other title

Department of Corporate and Information Services annual report 2003 - 2004

Creator

Northern Territory. Department of Corporate and Information Services

Collection

E-Publications; E-Books; PublicationNT; Department of Corporate and Information Services annual report; Annual report

Date

2004-10-14

Notes

Made available by the Library & Archives NT via the Publications (Legal Deposit) Act 2004 (NT).

Language

English

Subject

Northern Territory. Department of Corporate and Information Services -- Periodical

Publisher name

Northern Territory Government

Place of publication

Darwin

Series

Department of Corporate and Information Services annual report; Annual report

Volume

2003/2004

File type

application/pdf

ISSN

1835-2332

Use

Attribution International 4.0 (CC BY 4.0)

Copyright owner

Northern Territory Government

License

https://creativecommons.org/licenses/by/4.0

Parent handle

https://hdl.handle.net/10070/231111

Citation address

https://hdl.handle.net/10070/669431

Page content

DCIS General Financial Statements 114 17 WRITE OFFS, POSTPONEMENTS AND WAIVERS Agency Agency 2004 $000 No of Trans. 2003 $000 No of Trans. Write offs, waivers and postponements under the Financial Management Act Represented by: Amounts written off, waived and postponed by Delegates Irrecoverable amounts payable to the Territory or an Agency written off Losses or deficiencies of money written off Public property written off 8 5 - Waiver or postponement of right to receive or recover money or property Total 8 5 18 DISCLOSING THE IMPACT OF ADOPTING AASB EQUIVALENTS TO IASB PRONOUNCEMENTS At this point in time the Department of Corporate and Information Services is managing the transition through a specific project team. Treasury, through its accounting policy branch, will identify and communicate changes required to Treasurers Directions and future reporting requirements. At this stage the likely key differences in accounting policy are anticipated to be: Impairment Testing Under AASB 136 Impairment of Assets, the recoverable amount of an asset is determined as the higher of net selling price and value in use. This will result in a change in the current accounting policy as currently under AAS10 the recoverable amounts test does not apply to not-for profit entities. Revenue Rules governing grants provided to entities to be altered from a reciprocal/nonreciprocal approach to encompass in substance agreements whereby income in certain circumstances can be matched over the period the service is provided rather than treated as revenue in the year of receipt


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