3.2.11 Schedule of Asset Movements—Administered Comcare has no administered non-financial assets to report. For this reason Table 3.2.11 is not presented. 3.2.4 Notes to the financial statements Accounting policy The budgeted financial statements have been prepared in accordance with the requirements of the Finance Minister’s Orders issued by the Minister for Finance and Deregulation. The statements have been prepared: on an accrual accounting basis in compliance with Australian Accounting Standards and Australian Equivalents to International Financial Reporting Standards (AEIFRS) and authoritative pronouncements of the Australian Accounting Standards Boards and the Consensus Views of the Urgent Issues Group having regard to Statements of Accounting Concepts. Agency items Agency assets, liabilities, revenues and expenses are those items that are controlled by Comcare. Administered assets, liabilities, revenues and expenses relate to the Seafarers Safety, Rehabilitation and Compensation Authority (Seafarers Authority) which collects levies under the Seafarers Rehabilitation and Compensation Levy Collection Act 1992. The Seafarers Authority is controlled by the Government and managed by Comcare. Comprehensive income statement Revenue from government Comcare receives an annual appropriation for the management of asbestos related claims, the administration of the Seacare Authority and some of Comcare’s regulatory activities. Table 3.2.4A Agency revenue from government Agency revenue from sources Comcare receives the following revenue from other sources: sale of goods and rendering of services licence fees regulatory contributions interest workers compensation premiums
3.2.11 Schedule of Asset Movements—Administered Comcare has no administered non-financial assets to report. For this reason Table 3.2.11 is not presented. 3.2.4 Notes to the financial statements Accounting policy The budgeted financial statements have been prepared in accordance with the requirements of the Finance Minister’s Orders issued by the Minister for Finance and Deregulation. The statements have been prepared: on an accrual accounting basis in compliance with Australian Accounting Standards and Australian Equivalents to International Financial Reporting Standards (AEIFRS) and authoritative pronouncements of the Australian Accounting Standards Boards and the Consensus Views of the Urgent Issues Group having regard to Statements of Accounting Concepts. Agency items Agency assets, liabilities, revenues and expenses are those items that are controlled by Comcare. Administered assets, liabilities, revenues and expenses relate to the Seafarers Safety, Rehabilitation and Compensation Authority (Seafarers Authority) which collects levies under the Seafarers Rehabilitation and Compensation Levy Collection Act 1992. The Seafarers Authority is controlled by the Government and managed by Comcare. Comprehensive income statement Revenue from government Comcare receives an annual appropriation for the management of asbestos related claims, the administration of the Seacare Authority and some of Comcare’s regulatory activities. Table 3.2.4A Agency revenue from government Agency revenue from sources Comcare receives the following revenue from other sources: sale of goods and rendering of services licence fees regulatory contributions interest workers compensation premiums
2013-14_pbs_comcare.docx