Territory Stories

Annual Report 2020-2021, Northern Territory Legal Aid Commission

Details:

Title

Annual Report 2020-2021, Northern Territory Legal Aid Commission

Other title

Tabled Paper 433

Collection

Tabled Papers for 14th Assembly 2020 -; Tabled Papers; ParliamentNT

Date

2021-11-30

Notes

Made available by the Legislative Assembly of the Northern Territory under Standing Order 240. Where copyright subsists with a third party it remains with the original owner and permission may be required to reuse the material.

Language

English

Subject

Tabled papers

Publisher name

Legislative Assembly of the Northern Territory

Place of publication

Darwin

File type

application/pdf

Use

Copyright

Copyright owner

See publication

License

https://www.legislation.gov.au/Details/C2019C00042

Parent handle

https://hdl.handle.net/10070/851059

Citation address

https://hdl.handle.net/10070/851060

Page content

n o rt h e rn t e rr it o ry l e g a l a id c o m m is si o n a n n u a l re p o rt 2 0 2 0 /2 1 0 6 0 regarding assumptions about current and future events affecting transactions and balances. These estimates and judgements are based on the best information available at the time of preparing the financial statements, however as additional information is known then the actual results may differ from the estimates. The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods. Judgments and estimates that have significant effects on the financial statements are disclosed in the relevant notes to the financial statements. 1. Summary Of Significant Accounting Policies (a) Revenue and other income Revenue is recognised at the fair value of the consideration received, exclusive of the amount of GST. Government appropriation and grants Grants revenue is recognised at fair value exclusive of the amount of GST. Where a grant agreement is enforceable and has sufficiently specific performance obligations for the Commission to transfer goods or services to the grantor or a third party beneficiary the transaction is accounted for under AASB 15. In this case, revenue is initially deferred as a unearned contract liability when received in advance and recognised as or when the performance obligations are satisfied The Northern Territory Legal Aid Commission (the Commission) was established on 11 June 1990 by the Northern Territory of Australia Legal Aid Act 1990. The function of the Commission is to provide legal assistance in accordance with this Act. The Commission commenced its activities on 1 July 1990. The Commission is registered as a charity with the Australian Charities and Not-for-profits Commission from 3 December 2012 Basis of Preparation The financial statements are a general purpose financial report that has been prepared in accordance with the requirements of the Northern Territory of Australia Legal Aid Act 1990 and related Australian Accounting Standards issued by the Australian Accounting Standards Board that apply for the reporting period. The financial statements have been prepared using the accrual basis of accounting, which recognises the effect of financial transactions and events when they occur, rather than when cash is paid out or received. Historical Cost Convention The financial statements have been prepared in accordance with the historical cost convention. Accounting Estimates and Judgments Those charged with governance make estimates and judgements during the preparation of these financial statements Notes to the Financial Statements For The Year Ended 30 June 2021