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

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