Annual report [1997-98] - Family Court of Australia

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The Family Court of Australia – annual report 1997-98 Note Description 1 Objective of the Family Court of Australia 2 Summary of Significant Accounting Policies 3 Events occurring after Balance Date REVENUES AND EXPENSES 4 Employee Expenses 5 Suppliers Expenses 6 Depreciation and Amortisation 7 Interest - Expenses 8 Write down of Assets 9 Net Losses from Sale of Assets 10 Sale of Goods and Services 11 Net Gains from Sale of Assets 12 Interest - Revenue 13 Other - Abnormal Revenue 14 Liabilities assumed by Other Departments 15 Resources received Free of Charge from Other Departments EQUITY 16 Equity FAMILYCOURTOF AUSTRALIA NOTES TO AND FORMING PART OFTHE FINANCIALSTATEMENTS for the year ended 30 June 1998 PROVISIONS AND PAYABLES 17 Provisions and Payables - Employee Liabilities 18 Provisions and Payables - Suppliers ASSETS 19 Financial Assets - Cash 20 Financial Assets - Receivables 21 Financial Assets - Other 22 Non-financial Assets 23 Analysis of Property, Plant and Equipment 24 Non-financial Assets - Inventories OTHER INFORMATION 25 Cash Flow Reconciliation 26 Expenditure from Annual Appropriation 27 Receipts and Payments of the Trust Funds (Commonwealth Activities) 28 Receipts and Payments of the Trust Fund (Bank Accounts outside the Commonwealth Public Account) 29 Executives’Remuneration 30 Services Provided by the Auditor-General 31 Act of Grace Payments, Exemptions, Waivers and Write-offs 32 Financial Instruments 107
The Family Court of Australia – annual report 1997-98 FAMILYCOURTOF AUSTRALIA NOTES TO AND FORMING PART OFTHE FINANCIALSTATEMENTS for the year ended 30 June 1998 NOTE 1 - OBJECTIVE OFTHE FAMILYCOURT OFAUSTRALIA The Family Court of Australia operates in Australia to serve the interests of the Australian community by providing for the just and equitable administration of justice in all matters within the Court’s jurisdiction, with emphasis in its family jurisdiction on the conciliation of disputes and the welfare of children. NOTE 2 - SUMMARYOFSIGNIFICANTACCOUNTING POLICIES 2.1 Reporting requirements The Financial Statements are required by section 49 of the Financial Management and Accountability (FMA) Act 1997 and are a general purpose financial report. The statements have been prepared in accordance with Schedule 2 of the Finance Minister’s Orders issued by the Minister for Finance and Administration in June 1998. This Schedule requires that the financial statements are prepared: in compliance with Australian Accounting Standards, Accounting Guidance Releases and Urgent Issues Group Consensus Views issued by the Australian Accounting Research Foundation, and having regard to Statements of Accounting Concepts. 2.2 Basis of accounting The financial statements have been prepared on an accrual accounting basis and are in accordance with the historical cost convention except for library collections which, as noted in Note 2.10, are at valuation. They do not take into account the effect of changing money values on the results or the financial position. The accounting policies have been consistently applied. The continued existence of the Court in its present form is dependent on Government policy and on continuing appropriations by Parliament for the Court’s administration. 2.3 Departmental and Administered items Departmental assets, liabilities, revenues and expenses are those items that are controlled by the Court including: property, plant and equipment used in providing services; liabilities for employee entitlements and suppliers; revenues from running costs appropriations and from user charging etc. where the proceeds are appropriated under section 31 of the FMAAct 1997; and employee expenses and other administrative expenses incurred in providing services. 108
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Annual report [1997-98] - Family Court of Australia

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