ANNUAL REPORT 2014/15

DEPARTMENT OF HIGHER EDUCATION AND TRAINING
VOTE 17
ACCOUNTING POLICIES
for the year ended 31 March 2015
7.2 Departmental revenue
Statement of Financial Position.
7.3 Accrued departmental revenue
Accruals in respect of Departmental revenue (excluding tax revenue) are recorded in the notes to the
to the department; and
the amount of revenue can be measured reliably.
The accrued revenue is measured at the fair value of the consideration receivable.
Accrued tax revenue (and related interest and / penalties) is measured at amounts receivable from
collecting agents.
8 Expenditure
8.1 Compensation of employees
8.1.1 Salaries and wages
8.1.2 Social contributions
Social contributions made by the Department in respect of current employees are recognised in the
Statement of Financial Performance on the date of payment.
households in the Statement of Financial Performance on the date of payment.
8.2 Other expenditure
Other expenditure (such as goods and services, transfers and subsidies and payments for capital assets)
as a capital expense if the total consideration paid is more than the capitalisation threshold.
8.3 Accrued expenditure payable
Accrued expenditure payable is measured at cost.
8.4 Leases
8.4.1 Operating leases
Operating lease payments made during the reporting period are recognised as current expenditure in the
Statement of Financial Performance on the date of payment.
The operating lease commitments are recorded in the notes to the Financial Statements.
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