annual report - Harvey Norman Company Reports & Announcements

More documents

Recommendations

Info

Reference Title Summary Application date of standard* STATEMENT OF SIGNIFICANT ACCOUNTING POLICIES (CONTINUED) AASB 2012- 2 AASB 2012- 4 AASB 2012- 5 Amendments to Australian Accounting Standards – Disclosures – Offsetting Financial Assets and Financial Liabilities Amendments to Australian Accounting Standards – Government Loans Amendments to Australian Accounting Standards arising from Annual Improvements 2009– 2011 Cycle; and The following items are addressed by this standard: 1) IFRS 1 First-time Adoption of International Financial Reporting Standards Repeated application of IFRS 1 Borrowing costs 2) IAS 1 Presentation of Financial Statements Clarification of the requirements for comparative information 3) IAS 16 Property, Plant and Equipment Classification of servicing equipment 4) IAS 32 Financial Instruments: Presentation Tax effect of distribution to holders of equity instruments 5) IAS 34 Interim Financial Reporting Interim financial reporting and segment information for total assets and liabilities AASB 2012-2 principally amends AASB 7 Financial Instruments: Disclosures to require disclosure of information that will enable users of an entity‟s financial statements to evaluate the effect or potential effect of netting arrangements, including rights of set-off associated with the entity‟s recognised financial assets and recognised financial liabilities, on the entity‟s financial position. AASB 2012-4 adds an exception to the retrospective application of Australian Accounting Standards under AASB 1 First-time Adoption of Australian Accounting Standards to require that first-time adopters apply the requirements in AASB 139 Financial Instruments: Recognition and Measurement (or AASB 9 Financial Instruments) and AASB 120 Accounting for Government Grants and Disclosure of Government Assistance prospectively to government loans (including those at a belowmarket rate of interest) existing at the date of transition to Australian Accounting Standards. AASB 2012-5 makes amendments resulting from the 2009-2011 Annual Improvements Cycle. The Standard addresses a range of improvements, including the following: • repeat application of AASB 1 is 1 January 2013 1 January 2013 1 January 2013 Impact on Group financial report The amendments are not expected to have any material impact on the consolidated entity‟s financial statements. The amendments are not expected to have any material impact on the consolidated entity‟s financial statements. The amendments are not expected to have any material impact on the consolidated entity‟s financial statements. Application date for Group* 1 July 2013 1 July 2013 1 July 2013 73
Reference Title Summary Application STATEMENT OF SIGNIFICANT ACCOUNTING POLICIES (CONTINUED) date of standard* AASB 2012- 3 74 Amendments to Australian Accounting Standards – Offsetting Financial Assets and Financial Liabilities; permitted (AASB 1); and • clarification of the comparative information requirements when an entity provides a third balance sheet (AASB 101 Presentation of Financial Statements). AASB 2012-3 adds application guidance to AASB 132 Financial Instruments: Presentation to address inconsistencies identified in applying some of the offsetting criteria of AASB 132, including clarifying the meaning of “currently has a legally enforceable right of set-off” and that some gross settlement systems may be considered equivalent to net settlement. *designates the beginning of the applicable annual reporting period (f) New Accounting Standards and Interpretations 1 January 2014 Impact on Group financial report The consolidated entity is in the process of assessing the impact on the consolidated entity‟s financial statements and disclosures. The accounting policies adopted are consistent with those of the previous financial year except for the adoption of amendments contained in AASB 124 Related Party Disclosures that are effective for financial reporting periods commencing on or after 1 January 2011. AASB 124 Related Party Transactions (Amendment) Application date for Group* 1 July 2014 The revised AASB 124 Related Party Disclosures (December 2009) simplifies the definition of a related party, clarifying its intended meaning and eliminating inconsistencies from the definition, including: The definition now identifies a subsidiary and an associate with the same investor as related parties of each other Entities significantly influenced by one person and entities significantly influenced by a close member of the family of that person are no longer related parties of each other The definition now identifies that, whenever a person or entity has both joint control over a second entity and joint control or significant influence over a third party, the second and third entities are related to each other The amended accounting standard has a disclosure impact in Note 5 Trade and Other Receivables (Current) that results in the reclassification of non-trade debts receivable of $18.30 million from “other unrelated persons” to “related parties” for the year ended 30 June 2012. This amendment was applied retrospectively resulting in the reclassification of non-trade debts receivable of $25.90 million from “other unrelated persons” to “related parties” for the year ended 30 June 2011.
Page 1 and 2:
2012 ANNUAL REPORT HOLDINGS LIMITED
Page 3 and 4:
2 Contents Company Information 1 Co
Page 5 and 6:
CHAIRMAN‟S REPORT Business Perfor
Page 7 and 8:
CHAIRMAN‟S REPORT (CONTINUED) Our
Page 9 and 10:
CHAIRMAN‟S REPORT (CONTINUED) Bre
Page 11 and 12:
CHAIRMAN‟S REPORT (CONTINUED) Sal
Page 13 and 14:
CHAIRMAN‟S REPORT (CONTINUED) Slo
Page 15 and 16:
DIRECTOR‟S REPORT Your directors
Page 17 and 18:
DIRECTOR‟S REPORT (CONTINUED) Com
Page 19 and 20:
DIRECTOR‟S REPORT (CONTINUED) Div
Page 21 and 22:
DIRECTOR‟S REPORT (CONTINUED) Rem
Page 23 and 24: DIRECTOR‟S REPORT (CONTINUED) Rem
Page 29 and 30: DIRECTORS‟ REPORT (CONTINUED) Rem
Page 31 and 32: DIRECTORS‟ REPORT (CONTINUED) Rem
Page 33 and 34: DIRECTORS‟ REPORT (CONTINUED) Aud
Page 35 and 36: CORPORATE GOVERNANCE STATEMENT (CON
Page 43 and 44: STATEMENT OF FINANCIAL POSITION AS
Page 45 and 46: STATEMENT OF COMPREHENSIVE INCOME F
Page 47 and 48: STATEMENT OF CHANGES IN EQUITY FOR
Page 49 and 50: STATEMENT OF CASH FLOWS FOR THE YEA
Page 51 and 52: OPERATING SEGMENTS (CONTINUED) Oper
Page 53 and 54: OPERATING SEGMENTS (CONTINUED) OPER
Page 55 and 56: OPERATING SEGMENTS (CONTINUED) Oper
Page 57 and 58: STATEMENT OF SIGNIFICANT ACCOUNTING
Page 71 and 72: Reference Title Summary Application
Page 73: Reference Title Summary Application
Page 77 and 78: NOTES TO THE FINANCIAL STATEMENTS (
Page 125 and 126:
NOTES TO THE FINANCIAL STATEMENTS (
Page 127 and 128:
Page 129 and 130:
Page 131 and 132:
Page 133 and 134:
Page 135 and 136:
Page 137 and 138:
Page 139 and 140:
Independent auditor’s report to t
Page 141 and 142:
SHAREHOLDER INFORMATION Distributio
Page 143 and 144:
DIRECTORY OF HARVEY NORMAN, DOMAYNE
Page 145 and 146:
Page 147 and 148:
Page 149 and 150:
show all

annual report - Harvey Norman Company Reports & Announcements

You also want an ePaper? Increase the reach of your titles

Delete template?

Save as template?