2005 Annual Report - JB Hi Fi

NOTES TO THE FINANCIAL STATEMENTS
for the financial year ended 30 June 2005
38. Impact of adopting Australian equivalents to IFRS (continued)
(b) Proforma Statement of Financial Performance for the year ended 30 June 2005
The following proforma Statement of Financial Performance and Statement of Financial Position
outline the likely impacts on the current year result and fi nancial position of the company and
consolidated entity had the fi nancial statements been prepared using A-IFRS, based on the directors’
accounting policy decisions current at the date of this fi nancial report. Users of the fi nancial report
should note that further developments in A-IFRS (for example, the release of further pronouncements
by the Australian Accounting Standards Board and the Urgent Issues Group), if any, may result in
changes to the accounting policy decisions made by the directors to date, and, consequently, the
likely impacts outlined in the following proforma fi nancial statements.
The directors may, at any time until the completion of the consolidated entity’s fi rst A-IFRS compliant
fi nancial report, elect to revisit, and where considered necessary, revise the accounting policies
applied in preparing the proforma fi nancial statements.
Consolidated
Company
AGAAP A-IFRS A-IFRS AGAAP A-IFRS A-IFRS
Actual* Impact Pro forma Actual* Impact Pro forma
Note $’000 $’000 $’000 $’000 $’000 $’000
Sales revenue (sales of goods) 693,943 – 693,943 – – –
Cost of sales (534,474) (493) (534,967) – – –
Gross profit 159,469 (493) 158,976 – – –
Other revenue from ordinary activities e 955 (52) 903 11,764 – 11,764
Share of net profi ts of associates
accounted for using the equity method 118 – 118 118 – 118
Marketing expenses f (84,211) (520) (84,731) – – –
Occupancy expenses h (22,260) (306) (22,566) – – –
Administration expenses (9,185) – (9,185) (236) – (236)
Borrowing costs (5,705) – (5,705) (4,062) – (4,062)
Other expenses from ordinary activities e (7,903) 52 (7,851) (1) – (1)
Profi t from ordinary activities before
income tax expense 31,278 (1,319) 29,959 7,583 – 7,583
Income tax expense relating to
ordinary activities k (9,442) 177 (9,265) (109) – (109)
Profit from ordinary activities after
related income tax expense 21,836 (1,142) 20,694 7,474 – 7,474
Net profit 21,836 (1,142) 20,694 7,474 – 7,474
Net profi t attributable to outside
equity interests (1,159) 6 (1,153) – – –
Net profit attributable to members
of the parent entity 20,677 (1,136) 19,541 7,474 – 7,474
* Reported fi nancial results for the year ended 30 June 2005.
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