2004-05 Annual Report - Australia Post

Australia Post Annual Report 2004/05 Financial and Statutory Reports
Understanding our statements
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FINANCIAL AND STATUTORY REPORTS
FOR THE YEAR ENDED 30 JUNE 2005
UNDERSTANDING OUR STATEMENTS
Australia Post’s 2004–05 financial statements enable
readers to assess the corporation’s results for the
year, its present financial position, its future outlook
and the value of its assets. Comparable measures are
provided for the previous year.
The Statements by Directors and the Auditor-General’s
Report are standard legal declarations which are
required in all annual financial reports.
The “Corporation” figures are for Post alone, while the
“Consolidated” figures include transactions between
Post or its subsidiary companies and third parties.
All figures in these statements are rounded to the
nearest $100,000.
The Statement of Financial Performance shows the
income and running costs of the corporation for the
financial year.
The Statement of Financial Position provides information
on Post’s assets and liabilities and indicates the amount
of the Commonwealth Government’s investment at the
end of the financial year.
Assets listed in the Statement of Financial Position as
“current” are likely to be converted to cash within the
next 12 months. Liabilities that are “current” are due
and payable within 12 months. “Non-current” assets
or liabilities are long-term. Equity is the corporation’s
total capital and reserves plus profits that have
been reinvested over the years.
The Statement of Cash Flows shows the derivation of
the corporation’s cash resources during the financial
year and its cash outlays.
To gain a complete understanding of Post’s 2004–05
results, the financial statements should be read in
conjunction with the accompanying explanatory notes.