Annual Report - COMPLETE - Australian Crime Commission

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Note 18: Financial Instruments Nature of Underlying Instrument (including significant terms & conditions affecting the amount, timing and certainty of cash flows) Note 18A: Terms, Conditions and Accounting Policies Financial Instrument Notes Accounting Policies and Methods (including recognition criteria and measurement basis) Financial Assets Financial assets are recognised when control over future economic benefits is established and the amount of the benefit can be reliably measured. Cash 7A Cash is recognised at its nominal amount. The department invests funds with a commercial bank at call. Monies in the ACC’s bank accounts are swept into the Official Public Account nightly and interest is earned on the daily balance at rates based on money market call rates. Interest is retained by the Department of Finance and Administration. Receivables for goods and 7B Receivables are recognised at the nominal amounts due less any All receivables are with entities external to the services provision for bad and doubtful debts. Collectability of debts is Commonwealth. Credit terms are net 30 days. reviewed at balance date. Provisions are made when collection of the debt is judged to be less rather than more likely. Appropriations receivable 7B Receivables are recognised at their nominal amounts. Amounts appropriated by Parliament in the current period which are available to be drawndown by the Agency. 124 I ACC ANNUAL REPORT 2003–04 Financial liabilities Financial liabilities are recognised when a present obligation to another party is entered into and the amount of the liability can be reliably measured. Finance lease liabilities 9A Liabilities are recognised at the present value of the minimum lease payments at the beginning of the lease. The discount rates used At reporting date, the Department had finance leases with terms of three years. The interest rate implicit in the leases averaged 3.5%. The lease assets secure the liabilities. The final amount payable for the period will be equal to the funding received for the Capital Use Charge for the year (part of the Departmental appropriation) previously expensed in the accounts of the National <strong>Crime</strong> Authority, are estimates of the interest rates implicit in the leases. 10A This payable is recognised as the amount outstanding on the estimated amount to be paid in accordance with the calculations outlined by the Department of Finance and Administration. Capital Use Charge payable less any amount settled before 30 June. Creditors include entities that are both part of the Commonwealth legal entity and external suppliers. Settlement is usually made net 30 days. Trade creditors 11A Creditors and accruals are recognised at their nominal amounts, being the amounts at which the liabilities will be settled. Liabilities are recognised to the extent that the goods or services have been received (and irrespective of having been invoiced).
Note 18: Financial Instruments (continued) Note 18B: Interest Rate Risk Total Fixed Interest Rate Maturing In Non–Interest bearing 1 Year or Less 1 to 5 Years > 5 Years 2004 2003 2004 2003 2004 2003 2004 2003 $’000 $’000 $’000 $’000 $’000 $’000 $’000 $’000 Financial Instrument Notes Floating Interest Rate 2003 $’000 2004 $’000 2003 $’000 2004 $’000 Financial Assets Cash 7A - - - - - - - - 4,578 1,663 4,578 1,663 Receivables for goods and services (gross) 7B - - - - - - - - 368 503 368 503 Appropriations Receivable 7B - - - - - - - - 7,586 10,615 7,586 10,615 Assets - - - - - - - - 12,532 12,781 12,532 12,781 Total Assets 21,635 25,864 Total Weighted Average Effective Interest Rate Fixed Interest Rate Maturing In Non–Interest bearing Financial Instrument Notes Floating Interest Rate 2003 % 2004 % 2003 $’000 2004 $’000 2003 $’000 2004 $’000 1 Year or Less 1 to 5 Years > 5 Years 2004 2003 2004 2003 2004 2003 $’000 $’000 $’000 $’000 $’000 $’000 2003 $’000 2004 $’000 Financial Liabilities Finance lease liabilities 9A - - 335 538 - 335 - - - - 335 873 3.5 3.5 Capital Use Charge - - - - - - - - - payable 10A 829 - 829 n/a n/a Trade Creditors 11A - - - - - - - - 5,672 4,743 5,672 4,743 n/a n/a Liabilities - - 335 538 - 335 - - 5,672 5,572 6,007 6,445 n/a n/a Total Liabilities 14,347 15,430 ACC ANNUAL REPORT 2003–04 I 125 6A APPENDIX A: FINANCIAL STATEMENTS
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Guide to this Report This is the Au
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Key Results During 2003-04, the ACC
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CEO Forward I am pleased to present
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8 I ACC ANNUAL REPORT 2003-04 Profi
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The special, coercive powers includ
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on the IGC-ACC, and transmit those
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Table 1.1: Attendance at ACC Board
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ACC Board-Strategic Direction Commi
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The Ombudsman is scheduled to condu
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Senior Executive Team - Directors T
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Local Consultative Committee Local
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This framework also details perform
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Figure 1.3: Business planning and p
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Overview of Key Activities The ACC
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Feedback indicated the disseminatio
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Table 2.2: Output 1.1 - Summary of
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Alerts provide timely information o
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Information Bulletins The ACC Natio
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National Strategic Criminal Intelli
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Determination - Amphetamines and Ot
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A formal working group consisting o
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provided information on the diffi c
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Table 3.4: Output 1.2 - ID Crime us
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___________________________________
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Determination - Firearms Traffi cki
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Figure 4.3: Firearms Traffi cking D
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As at 1 June 2004, operations previ
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Results include: • significant di
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Determination - Established Crimina
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Table 4.10: Output 1.3 - SEAOC use
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• Viking Task Force: The ACC prov
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Coercive powers under the Money Lau
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Table 4.13: Output 1.3 - MIDAS arre
Page 73 and 74: The purpose of referring that matte
Page 75 and 76: In February 2003, the NSW Supreme C
Page 78 and 79: 78 I ACC ANNUAL REPORT 2003-04 The
Page 80 and 81: Intelligence The Intelligence Direc
Page 82 and 83: ACC Media Coordinated by Corporate
Page 84 and 85: Staffing profile The staff of the A
Page 86 and 87: Awards and honours The ACC regularl
Page 88 and 89: Table 5.2 Resources for Outcomes Ou
Page 90 and 91: 90 I ACC ANNUAL REPORT 2003-04 Appe
Page 92 and 93: Appendix A: Financial Statements 92
Page 94 and 95: AUSTRALIAN CRIME COMMISSION Stateme
Page 96 and 97: AUSTRALIAN CRIME COMMISSION STATEME
Page 98 and 99: AUSTRALIAN CRIME COMMISSION SCHEDUL
Page 100 and 101: AUSTRALIAN CRIME COMMISSION NOTES T
Page 102 and 103: 1.3 Changes in Accounting Policy Th
Page 104 and 105: 1.7 Leases A distinction is made be
Page 106 and 107: 1.12 Property, Plant and Equipment
Page 108 and 109: Note 2: Adoption of AASB Equivalent
Page 110 and 111: Note 4: Operating Revenues Note 4A:
Page 112 and 113: Note 5E: Write down of assets 112 I
Page 114 and 115: Note 8: Non-Financial Assets (conti
Page 116 and 117: Note 9: Interest Bearing Liabilitie
Page 118 and 119: Note 11: Payables Note 11A: Supplie
Page 120 and 121: Note 13: Cash Flow Reconciliation R
Page 122 and 123: Note 16: Remuneration of Auditors F
Page 126 and 127: Note 18: Financial Instruments (con
Page 128 and 129: Note 19B: Special Accounts Account
Page 130 and 131: Note 21B: Major Classes of Departme
Page 132 and 133: Appendix B: Staffing Statistics Sta
Page 134 and 135: Table 6B4: Salary bands under the A
Page 136 and 137: Appendix C: Consultants and Counsel
Page 138 and 139: Appendix D: Summary of Charges Tabl
Page 140 and 141: Appendix E: Court Results Table 6E1
Page 142 and 143: Table 6E1: Court Results - 1 July 2
Page 150 and 151: Appendix F: Complaints 2003-04 Natu
Page 152 and 153: Appendix G: FOI Statement Freedom o
Page 154 and 155: In addition the following documents
Page 156 and 157: Appendix H: Other Mandatory Informa
Page 158 and 159: Indexes to Compliance Index to Comp
Page 160 and 161: Glossary and abbreviations Glossary
Page 162 and 163: Special intelligence operation or s
Page 164 and 165: Acronyms and abbreviations used in
Page 166 and 167: Cybercrime, 16 open source informat
Page 168: Offices of the ACC ACC Headquarters
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Annual Report - COMPLETE - Australian Crime Commission

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