Annual Report 2005 - Publications Unit - The University of Western ...

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THE UNIVERSITY OF WESTERN AUSTRALIANOTES TO THE FINANCIAL STATEMENTS31 DECEMBER 200547. Explanation of transition to Australian equivalents to International Financial Reporting Standards (continued)EImpairmentThe University has impaired a building which was planned to be demolished in 2005.$'000(i) At 1 January 2004No adjustment as recorded at fair value -(ii) At 31 December 2004Impairment (294)(iii) For the year ended 31 December 2004Impairment (294)F Retrospective application of prior period adjustmentsThe University identified in 2004 funding that had been provided to the University had been recorded as income rather than held in trust. Thisadjustment was reflected in the 2004 financial statements.$'000(i) At 1 January 2004Recording of fund held in trust 1,913(ii) At 31 December 2004No adjustment -(iii) For the year ended 31 December 2004Reversal of reduction in donation income 1,913GRevenue recognitionThe University is required to classify revenue received as reciprocal or non-reciprocal. Reciprocal income is required to be recognised on a stage-ofcompletionbasis which has resulted in an adjustment to the recognition of research income.$'000(i) At 1 January 2004Deferred revenue 28,641Accrued revenue 4,010Net adjustment 24,631(ii) At 31 December 2004Deferred revenue 32,892Accrued revenue 6,013Net adjustment 26,879(iii) For the year ended 31 December 2004Adjustment to Commonwealth Government Financial Assistance (2,686)Adjustment to Other research grants and contracts (1,854)Adjustment to Western Australian and Local Government Financial Assistance 2,288(2,252)HClassification of short term depositsA short term deposit previously recorded in investments has been reclassified to cash under the definition of cash equivalents in AASB 107.$'000(i) At 1 January 2004Short-term deposit 190(ii) At 31 December 2004Short-term deposit 200ITransfer of revaluation reserveThe University has elected to utilise deemed cost on transition to AIFRS (as discussed above). The previous revaluation reserve has been transferred toretained profits.$'000(i) At 1 January 2004Transfer to retained profits (31,064)(ii) At 31 December 2004Transfer to retained profits (52,423)75
THE UNIVERSITY OF WESTERN AUSTRALIANOTES TO THE FINANCIAL STATEMENTS31 DECEMBER 200547. Explanation of transition to Australian equivalents to International Financial Reporting Standards (continued)J Reconciliation of retained profitsNotes$'000(i) At 1 January 2004Recorded investment properties at fair value B 7,096Record land and buildings at deemed cost C 105,178Recording of fund held in trust F (1,913)Revenue adjustment G (24,631)Adjustment to Pension Scheme Provision D 67Transfer revaluation reserve to retained profits I 31,064116,861(ii) At 31 December 2004Recorded investment properties at fair value B 603Record land and buildings at deemed cost C 83,866Update depreciation on former investment properties C (895)Impairment recorded E (294)Deferred revenue G (26,879)Adjustment to pension scheme provision D (199)Recording of provision for revenue sharing agreement D (4,553)Transfer revaluation reserve to retained profits I 52,423104,072KReconciliation of profitFor the year ended 31 December 2004Update profit on disposal of property recorded a fair value on transition A (7,080)Record movements in fair value of investment property B 1,347Update profit on disposal of property recorded a fair value on transition B (760)Update depreciation on former investment properties C (895)Adjustment to capitalised costs C 47Impairment recorded E (294)Reversal of reduction in donation income F 1,913Deferred revenue G (2,252)Recording of provision for revenue sharing agreement D (4,553)Adjustment to pension scheme provision D (266)(12,793)76
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Annual Report2005
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Chancellor’sIntroductionIt is my
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• the successful negotiation of t
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performance and to ensure its fisca
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SENATE MEMBERSAPPENDIX AThe members
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APPENDIX CExecutive Director(Financ
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• comprehensive, with a broad tea
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ResearchThe University of Western A
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Community RelationsBeyond serving t
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Capital WorksDuring 2005, in line w
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The Impact ofState LegislationIn Au
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StatisticalProfile23
Page 27 and 28: TABLE 2: STUDENT ENROLMENTS AND LOA
Page 29 and 30: TABLE 5: STUDENT LOAD (EFTSL) BY FA
Page 31 and 32: TABLE 8: STAFF FTE (a) BY MAJOR ORG
Page 33 and 34: INDEPENDENT AUDIT OPINIONTo the Par
Page 36 and 37: THE UNIVERSITY OF WESTERN AUSTRALIA
Page 42 and 43: 1. Summary of significant accountin
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Page 54 and 55: `THE UNIVERSITY OF WESTERN AUSTRALI
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Page 79 and 80: 48. Acquittal of Australian Governm
Page 81 and 82: 48.4 DEST ResearchTHE UNIVERSITY OF
Page 85: SUMMARY OF KEY PERFORMANCE INDICATO
Page 88 and 89: Proportion of Top School Leavers Ap
Page 90: Indicator 1.4 Graduate Destinations
Page 93 and 94: Commencing Higher Degree by Researc
Page 95 and 96: Selected Research Publications (a)
Page 97: Total Research Income (a) per Acade
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