2003 - 04 Annual Report - Sbs

More documents

Recommendations

Info

90NOTES TO AND FORMING PART OF THE FINANCIAL STATEMENTSfor the year ended 30 June 2004NoteDescription1. Summary of significant accounting policies2. Adoption of Australian Equivalents to InternationalFinancial Reporting Standards from 2005 – 063. Economic dependency4. Operating surplus5. Operating revenues5(a) Revenues from Government5(b) Goods and services5(c) Interest Revenue5(d) Revenue from sale of assets5(e) Reversals of previous asset write-downs5(f) Other revenues6. Operating expenses6(a) Employee expenses and average staffing level6(b) Remuneration of officers6(c) Remuneration of directors and related party disclosures6(d) Supplier expenses6(e) Depreciation and amortisation6(f) Write-down of assets6(g) Value of assets sold7. Borrowing costs expense8. Financial assets8(a) Cash8(b) Receivables8(c) Investments9. Non-financial assets9(a) Land and buildings9(b) Plant and equipment9(c) Intangibles9(d) Analysis of property, plant & equipment9(e) Assets at valuation as at 30 June 20049(f) Assets held under finance lease as at 30 June 20049(g) Inventories9(h) Other non-financial assets10. Interest bearing liabilities10(a) Loans10(b) Finance lease liabilities11. Provisions11(a) Employee provisions12. Payables12(a) Suppliers12(b) Other payables12(c) Tax liabilities13. Cash flow reconciliation14. Analysis of equity15. Financial instruments15(a) Terms, conditions and accounting policies15(b) Interest rate risk15(c) Foreign currency risk15(d) Credit risk15(e) Net fair values of financial assets and liabilities16. Contingent liabilities and assets17. Appropriations18. Reporting of outcomes
911. Summary of significant accounting policies(a)Basis of accountingThe financial statements are required by clause 1(b) of Schedule 1 to the Commonwealth Authorities and Companies Act 1997and are a general purpose financial report.The statements have been prepared in accordance with the Finance Minister’s Orders [being the Commonwealth Authorities andCompanies Orders (Financial Statements for reporting periods ending on or after 30 June 2004)]. The financial statements havebeen prepared in accordance with Australian Accounting Standards and Accounting Interpretations issued by the AustralianAccounting Standards Board, and the Consensus Views of the Urgent Issues Group.The Corporation and Consolidated Statements of Financial Performance and Financial Position have been prepared on an accrualbasis, and are in accordance with historical cost convention, except for certain assets which, as noted, are at valuation (see note 9).(b)Changes in accounting policyAccounting policies are selected and applied in a manner which ensures that the resulting financial information satisfies theconcepts of relevance and reliability, thereby ensuring that the substance of the underlying transactions or other events isreported. Significant accounting policies adopted in the preparation and presentation of the financial report are identified inthis note.The accounting policies used in the preparation of these financial statements are consistent with those used in 2002-03,except where changes in accounting policy are identified in this note under their appropriate headings.(c)Principles of consolidationThe consolidated financial statements are those of the economic entity comprising the Special Broadcasting Service Corporation(the parent entity) and Multilingual Subscriber Television Ltd (MST Ltd). The effect of all transactions between the entities in theeconomic entity and inter-entity balances are eliminated in full.(d)Equity accounting of associated companiesThe principles of equity accounting have been applied in respect of associated companies. Associated companies are thosecompanies over which the economic entity exercises significant influence but not control.Using the equity method, the Corporation has recognised through its controlled entity, MST Ltd, the share of profit/(loss) of itsassociate, PAN TV Ltd, as revenue/(expense) in its Statement of Financial Performance, and its share of movement in reserves inconsolidated reserves. Equity information is disclosed in note 8(c). MST Ltd’s investment in the associated entity, PAN TV Ltd, isaccounted for in accordance with AASB 1016 “Accounting for Investments in Associates”.(e)Reporting by outcomesThe results by outcome specified in the Appropriation Acts relevant to the Corporation are presented in note 18.(f)AppropriationsUnder the accruals framework, Parliament appropriates monies to the Corporation as revenue appropriations, as loanappropriations and as equity injections.Revenue appropriations - Output AppropriationsRevenues from Government are revenues of the core operating activities of the Corporation. The full amount of the appropriationfor departmental outputs for the year is recognised as revenue.Non-revenue appropriations - Equity Injections and LoansAmounts appropriated as equity injections are recognised as increases in “Contributed Equity”. All equity appropriations havebeen fully drawn down. Loan appropriations are recognised as increases in borrowings, when the appropriation is drawn down. In2003, the Corporation was appropriated $24m on loan funding to refinance the balance of an existing loan - see note 10(a).
Page 1 and 2:
2003 - 2004ANNUALREPORTcelebrating
Page 3 and 4:
iCONTENTSOverview and Vision Statem
Page 5:
iiiCHAIRMAN’S LETTER TO THE MINIS
Page 9 and 10:
HARVIE KRUMPETvii
Page 11 and 12:
1234 hours of Australian programs,
Page 13 and 14:
3character changes with Pauly and B
Page 15 and 16:
5Australian Programs Commissionedby
Page 17 and 18:
SOMERSAULT7
Page 19 and 20:
9SBSi COMMISSIONED PROGRAMSSpecial
Page 21 and 22:
11major breaking stories as soon as
Page 23 and 24:
13INSIGHT FORUMS continued...Home f
Page 25 and 26:
TRAVELLING LIGHT15
Page 27 and 28:
17SBS ATTENDANCE AT FILM FESTIVALS
Page 29 and 30:
19Weekly Reach by Key DemographicsS
Page 31 and 32:
LA SPAGNOLA21
Page 33 and 34:
23Four languages - Malay, Somali, A
Page 35 and 36:
25News and World ViewEvery language
Page 37 and 38:
27• The Mandarin language program
Page 39 and 40:
29AUDIENCE RESEARCHAWARDSSBS Radio
Page 41 and 42:
BOOK OF BUTTERFLIES31
Page 43 and 44:
33Traffic to the SBS website has in
Page 45 and 46:
35TELEVISION AND RADIOwww.sbs.com.a
Page 47 and 48:
37SBS Television advertising revenu
Page 49 and 50: 39The complete SBS merchandise cata
Page 51 and 52: THE MARY G SHOW41
Page 53 and 54: 43Home Video SalesSBS Program Sales
Page 55 and 56: 4521 new analogue transmitters bega
Page 57 and 58: 47The new partnership with Broadcas
Page 59 and 60: FLOODHOUSE49
Page 61 and 62: 51SBS ended the financial yearwith
Page 63 and 64: 53Audit and Finance CommitteeThe SB
Page 65 and 66: 55Program. All SBS employees are at
Page 67 and 68: 57SBS programming; 302 made broad c
Page 69 and 70: 59SBS Radio continued to produce an
Page 71 and 72: 61documentaries and documentary ser
Page 73 and 74: 63INTERNATIONAL PARTICIPATIONSBS ma
Page 75 and 76: 65For the first time, two regular p
Page 77 and 78: 67Despite increased competition fro
Page 79 and 80: 69In 2003-04, bulletins were added
Page 81 and 82: 71In 2003-04, the budget for Austra
Page 83 and 84: THE TRACKER73
Page 85 and 86: 75Following the landmark findings o
Page 87 and 88: 77youth music festival, National Yo
Page 89 and 90: 79GOAL 3TO INCREASE OUR CAPACITY TO
Page 91 and 92: 81Revenue from independentsources o
Page 93 and 94: 83IndependenceIn conducting the aud
Page 95 and 96: STATEMENT OF FINANCIAL PERFORMANCEf
Page 97 and 98: STATEMENT OF CASH FLOWSfor the year
Page 99: SCHEDULE OF CONTINGENCIESas at 30 J
Page 103 and 104: 93(k)Superannuation(i)Employees of
Page 105 and 106: 95(s)Goods and Services TaxRevenues
Page 107 and 108: 97Changes in accounting policy(a) P
Page 109 and 110: 99Notes Consolidated Corporation200
Page 111 and 112: 1016(c)Remuneration of directors an
Page 113 and 114: 103Notes Consolidated Corporation8.
Page 115 and 116: 1052004 2003$'000 $'000(xii) Invest
Page 117 and 118: 1079(c)Intangibles (continued)Recon
Page 119 and 120: 1099(f)Assets held under finance le
Page 121 and 122: 111Notes Consolidated Corporation11
Page 123 and 124: 11314. Analysis of Equity(Consolida
Page 125 and 126: 11515(b) Interest rate riskThe econ
Page 127 and 128: 117ConsolidatedCorporation16. Conti
Page 129 and 130: 119SBS Television broadcast 6,965 h
Page 131 and 132: APPENDIX 2SBS Television Analogue S
Page 133 and 134: 123Area ServedChannelArea ServedCha
Page 135 and 136: APPENDIX 2SBS Television Digital Se
Page 137 and 138: APPENDIX 4SBS Television Programs o
Page 139 and 140: 129DOCUMENTARY SERIESAustralia by N
Page 141 and 142: 131SBS Radio Sydney FM (99.7)TIME M
Page 143 and 144: APPENDIX 9SBS Radio - Languages Bro
Page 145 and 146: APPENDIX 11SBS Television Advertise
Page 147 and 148: APPENDIX 13Community Advisory Commi
Page 149 and 150: 139NATIONAL AND INTERNATIONAL AWARD
Page 151 and 152:
141Mountain Film Telluride, USANort
Page 153 and 154:
143IIF Awards 3If Only 3, 70Indigen
show all

2003 - 04 Annual Report - Sbs

You also want an ePaper? Increase the reach of your titles

Delete template?

Save as template?