the case, each component and in accordance with FRD 109. component of the system should be accounted for as Note 21. Other nonfinancial assets a separate Other .. .. Total noncurrent other assets .. .. Total other assets 1 483 380 AASB 101.61 Commentary – Other nonfinancial assets The assets above should only include assets that are nonfinancial in nature. AASB 101.61 ($ thousand) 2015 2014 Current other assets Prepayments 1 483 380 Total current other assets 1 483 380 Note 22. Payables Noncurrent other assets Contractual Supplies and services (i) 4 466 5 330 Amounts payable to government and agencies (ii) 8 048 6 360 AASB 101.61 Other payables (i) 1 900 2 394 14 413 14 085 (iii) Statutory FBT payable 82 169 GST payable 109 225 Other taxes payable 82 169 273 562 Total current payables 14 686 14 647 Noncurrent payables Contractual (ii) Amounts payable to government and agencies 2 843 1 514 (i) Other payables 62 543 AASB 101.61 2 905 2 057 Total noncurrent payables 2 905 2 057 ($ thousand) Total payables 17 591 16 704 2015 2014 Current payables (i) The average credit period is 30 days. No interest is charged on the other payables for the first 30 days from the date AASB 7.7, 7.31 of the invoice. Thereafter, interest is charged at 2 per cent per year on the outstanding balance. Notes: AASB 7.7, 7.31 agencies vary according to a particular agreement with that agency. [The agreement in place in this case is not legislative, but contractual and therefore this payable is a financial (ii) Terms and instrument.] conditions of (iii) [Where amount of taxes payable is material, entities should present statutory ‘taxes payable’ in the note broken amounts down by classes of taxes, i.e. GST payable, FBT payable, income tax payable, and other taxes payable, as payable to appropriate.] other government
the case, each component of the system should be accounted for as a separate component and in accordance with FRD 109. Note 21. Other nonfinancial assets AASB 101.61 AASB 101.61 ($ thousand) 2015 2014 Current other assets Prepayments 1 483 380 Total current other assets 1 483 380 Noncurrent other assets Other .. .. Total noncurrent other assets .. .. Total other assets 1 483 380 Commentary – Other nonfinancial assets The assets above should only include assets that are nonfinancial in nature. Note 22. Payables AASB 101.61 AASB 101.61 ($ thousand) 2015 2014 Current payables Contractual Supplies and services (i) 4 466 5 330 Amounts payable to government and agencies (ii) 8 048 6 360 Other payables (i) 1 900 2 394 14 413 14 085 Statutory (iii) FBT payable 82 169 GST payable 109 225 Other taxes payable 82 169 273 562 Total current payables 14 686 14 647 Noncurrent payables Contractual Amounts payable to government and agencies (ii) 2 843 1 514 Other payables (i) 62 543 2 905 2 057 Total noncurrent payables 2 905 2 057 Total payables 17 591 16 704 AASB 7.7, 7.31 Notes: (i) The average credit period is 30 days. No interest is charged on the other payables for the first 30 days from the date of the invoice. Thereafter, interest is charged at 2 per cent per year on the outstanding balance. AASB 7.7, 7.31 (ii) Terms and conditions of amounts payable to other government agencies vary according to a particular agreement with that agency. [The agreement in place in this case is not legislative, but contractual and therefore this payable is a financial instrument.] (iii) [Where amount of taxes payable is material, entities should present statutory ‘taxes payable’ in the note broken down by classes of taxes, i.e. GST payable, FBT payable, income tax payable, and other taxes payable, as appropriate.]
2014-15%20Model%20Report.docx