Territory Stories

Department of Corporate and Information Services annual report 2002- 003

Details:

Title

Department of Corporate and Information Services annual report 2002- 003

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

2003

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

2002/2003

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/10070/231102

Citation address

https://hdl.handle.net/10070/669441

Page content

NT Fleet Financial Report 2003 $'000 2002 $'000 3 PROFIT FROM ORDINARY ACTIVITIES BEFORE INCOME TAX EXPENSE (a) Profit from ordinary activities before income tax expense has been arrived at after charging / (crediting) the following items: Depreciation of: Motor Vehicles 11,079 10,053 Total depreciation 11,079 10,053 Borrowing costs: NT Treasury loans 137 293 Total borrowing costs 137 293 Audit and other services (i) 34 13 Corporate support by external agencies 561 313 Net bad and doubtful debts expense including movements in provision for doubtful debts - 10 Net expenses from movements in provision for employee benefits - (20) Operating lease rental expense 228 632 (i) Amounts paid, or due and payable to the NT Government for audit services provided by the Northern Territory Auditor-Generals Office. (b) Fundamental error Fixed assets for property, plant and equipment for 2001 included a written down value of $1,104,527.20 of accessories that had been incorrectly recognised as assets in the financial statements as at 30 June 2001. This error had the effect of overstating written down value of property plant and equipment and total assets of $1,104,527.20 and understating the loss on sale of assets and overstating accumulated profit by $1,104,527.20, overpayment of Income Tax by $375,539.25 (at 34%) The error does relate to reporting prior to 2001, however it is not practicable to restate comparative information for each reporting period. 159


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