LEGAL SERVICES COMMISSIONER ANNUAL REPORT 2012

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4 Cash and deposits2012 2011$ $(a) Reconciliation of cash and cash equivalentsTotal cash and deposits disclosed in the balance sheet 1,000 1,551,690LSC bank account held for disputed costs 203,772 225,069Balances per statement of cash flows 204,772 1,776,759(b) Reconciliation of comprehensive result for the period to net cashflows from operating activitiesComprehensive result for the year 634,234 414,212Non-cash movements:Depreciation and amortisation 284,097 280,566(Gain)/loss in disposal of fixed assets 49,322 4,129(Gain)/loss from the revaluation of the long service leave provisiondue to changes in the present value of the discount rate108,598 (7,994)Other 139 -Movements in assets and liabilities:(Increase)/decrease in receivables 2,119 (76,924)(Increase)/decrease in prepayments 33,173 20,315Increase/(decrease) in payables (146,426) (300,507)Increase/(decrease) in provisions 86,083 65,090Net cash inflow (outflow) from operating activities 1,051,339 398,8875 Receivables2012 2011$ $Current receivablesContractualTrade receivables 583,107 -Provision for impairment of receivables (116,984) -Accrued income - 429,654Total contractual receivables 466,123 429,654StatutoryGST recoverable 30,167 68,755Total statutory receivables 30,167 68,755Total receivables 496,290 498,40966 Legal Services COMMISSIONER Annual Report 2012
6 Current assets – Other current assetsThe LSC’s activities are funded by the LSB. Under the provisions of the Legal Profession Act 2004 (the Act) the LSB is obligedto meet the expenses and discharge the liabilities of the LSC in performing functions under the Act.The LSB continues to fulfil its funding obligations. Instead of transferring cash to the LSC at set intervals as occurred in thepast, funding is provided by way of a loan. A corresponding borrowing is reported in the accounts of the LSB.2012 2011$ $Other current assets 2,585,114 852,585,114 857 Plant and equipmentPlant and equipment are classified primarily by the purpose for which the assets are used according to one of the five ‘PurposeGroups’ based upon Government Classification (GPC). All assets within a ‘Purposes Group’ are further sub-categorised to theasset’s nature, with each sub category being classified as a separate class of asset for financial reporting purposes.PUBLIC SAFETY AND ENVIRONMENT2012 2011$ $(a) Classification by ‘Purpose Groups’ – Carrying amountsComputer equipmentAt cost 47,530 121,407Less: accumulated depreciation (46,387) (68,162)1,143 53,245Office furnitureAt cost 9,658 43,032Less: accumulated depreciation (1,414) (5,843)8,244 37,189Motor vehicleAt cost 72,887 103,345Less: accumulated depreciation (29,458) (22,758)43,429 80,587Office equipmentAt cost 11,890 1,174Less: accumulated depreciation (1,620) (132)10,270 1,042Net carrying amount of plant and equipment 63,086 172,063Legal Services COMMISSIONER Annual Report 2012 67
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contentsAbout the Legal Services Co
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Education and OutreachIn accordance
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chapter 01REPORT OF OPERATIONSThis
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Figure 4 Top six issues that featur
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Overcharging complaint resolved wit
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An explanation and apology resolved
Page 17 and 18: The Complaints and InvestigationsTe
Page 22 and 23: Alternative disciplinary actionsWhe
Page 24 and 25: Oldham v Law Institute of Victoria
Page 26 and 27: Complaints outstandingThere were 57
Page 28 and 29: Educating consumers of legal servic
Page 33 and 34: chapter 02human resourcesOrganisati
Page 35 and 36: Executive officer dataAn executive
Page 37 and 38: chapter 03governanceFreedom of Info
Page 42 and 43: Waste generationThe LSC also monito
Page 44 and 45: Greenhouse gas emissionsBelow is a
Page 46 and 47: contentsAccountable Officer’s and
Page 48 and 49: Comprehensiveoperating statementFor
Page 50: Statement ofchanges in equityFor th
Page 54 and 55: 1 Summary of significant accounting
Page 60 and 61: Standard/InterpretationAASB 13 Fair
Page 62 and 63: Standard/InterpretationAASB 2011-2
Page 64 and 65: Standard/InterpretationAASB 2011-10
Page 66 and 67: 2 Income from transactions2012 2011
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Page 73 and 74: 11 Provisions CONTINUED(b) Movement
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Page 79 and 80: 19 Remuneration of executivesExecut
Page 81 and 82: Financial statementsDepending on th
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Revive Laser is Australian made and
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LEGAL SERVICES COMMISSIONER ANNUAL REPORT 2012

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