2013 Apr 15 Annual Report 2012 - Phosphagenics

Notes to the consolidated fi nancial statements
YEAR ENDED 31 DECEMBER 2012
1. CORPORATE INFORMATION
The consolidated fi nancial statements of Phosphagenics Limited for the year ended 31 December 2012
was authorised for issue in accordance with a resolution of the Directors on 19th February 2013.
Phosphagenics Limited (the parent) is a for profi t company limited by shares incorporated in Australia
whose shares are publicly traded on the Australian Stock Exchange (“ASX”).
The nature of the operations and principal activities of the Group are described in the directors’ report.
2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Table of Contents
Basis of Preparation
(a) Compliance with IFRS 69
(b) New Accounting Standards and Interpretations 69
(c) Basis of consolidation 78
(d) Operating segments 78
(e) Signifi cant accounting judgements estimates and assumptions 78
(f) Cash and cash equivalents 79
68
(g) Provisions and employee benefi ts 79
(h) Government grants 80
(i) Income tax and other taxes 80
(j) Other taxes 81
(k) Intangible assets 81
(l) Impairment of non-fi nancial assets other than goodwill 82
(m) Investments and other fi nancial assets 82
(n) Trade and other payables 83
(o) Share-based payment transactions 83
(p) Leases 83
(q) Inventories 84
(r) Trade and other receivables 84
(s) Plant and equipment 84
(t) Revenue recognition 85
(u) Issued Capital 85
(v) Foreign currency translation 85
(w) Earnings per share 85
PHOSPHAGENICS ANNUAL REPORT 2012