Annual report 2003-2004, Department of Corporate and Information Services
Department of Corporate and Information Services annual report 2003 - 2004
Northern Territory. Department of Corporate and Information Services
E-Publications; E-Books; PublicationNT; Department of Corporate and Information Services annual report; Annual report
2004-10-14
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
2003/2004
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/10070/231111
https://hdl.handle.net/10070/669431
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