Territory Stories

Department of Justice annual report 2005 - 2006

Details:

Title

Department of Justice annual report 2005 - 2006

Other title

Annual report 2005-2006

Creator

Northern Territory. Department of Justice

Collection

E-Publications; PublicationNT; E-Books; Department of Justice annual report; Annual report

Date

2006

Notes

Includes "Correctional Services annual statistics 2005-2006".; Made available via the Publications (Legal Deposit) Act 2004 (NT).

Language

English

Subject

Justice, Administration Of; Northern Territory; Northern Territory. Department of Justice; Periodicals; annual report

Publisher name

Northern Territory Government

Place of publication

Darwin

Series

Department of Justice annual report; Annual report

Volume

2005-2006

Frequency

Yearly

Now known as

Attorney-General's Department of the Northern Territory annual report

Previously known as

Department of Law annual report

File type

application/pdf

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/10070/213315

Citation address

https://hdl.handle.net/10070/715317

Related items

https://hdl.handle.net/10070/715315

Page content

87 Revaluations Subsequent to initial recognition, assets belonging to the following classes of non-current assets are revalued with sufficient regularity to ensure that the carrying amount of these assets does not differ materially from their fair value at reporting date: Land; Buildings; Infrastructure assets; Heritage and cultural assets; Biological assets; and Intangibles. Fair value is the amount for which an asset could be exchanged, or liability settled, between knowledgeable, willing parties in an arms length transaction. Other classes of non-current assets are not subject to revaluation and are measured at cost. The unique nature of some of the heritage and cultural assets may preclude reliable measurement. Such assets have not been recognised in the financial statements. Depreciation and Amortisation Items of property, plant and equipment, including buildings but excluding land, have limited useful lives and are depreciated or amortised using the straight-line method over their estimated useful lives. Amortisation applies in relation to intangible non-current assets with limited useful lives and is calculated and accounted for in a similar manner to depreciation. The estimated useful lives for each class of asset are in accordance with the Treasurers Directions and are determined as follows: 2006 2005 BUILDINGS Supreme Court 100 years 100 years Public buildings 50 years 50 years Sheds / demountables 20 years 20 years INFRASTRUCTURE ASSETS Roads and Footway sealed pavement 25 years 25 years PLANT AND EQUIPMENT Catering equipment 15 years 15 years Computer hardware 4 years 4 years Furniture and fittings 10 years 10 years Laundry equipment 15 years 15 years Library equipment 5 years 5 years Office equipment 5 years 5 years Power generators 10 years 10 years Security systems 10 years 10 years Telephone / radio / communication equipment 10 years 10 years CULTURAL ASSETS Artworks / sculptures 100 years 100 years INTANGIBLES Software general 3 years 3 years Software corporate system 6 years 6 years Assets are depreciated or amortised from the date of acquisition or from the time an asset is completed and held ready for use. Annual Report 2005 2006 / Financial Statements


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