2016 RASV Annual Report

NOTES TO THE
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2016
20. KEY MANAGEMENT INFORMATION
Key management personnel comprise persons having authority and responsibility for planning, directing and controlling the activities
of the Company. These persons consist of the Chief Executive Officer, Mark O’Sullivan and General Managers, Bradley Jenkins, Michael
Martin, Jonathan Perry and Benjamin White.
The amounts paid or payable to key management are as follows:
2016 2015
$ $
Short-term employee benefits 1,406,736 1,355,713
Other long-term benefits 247,615 226,463
Termination benefits 55,624 -
1,709,975 1,582,176
21. ACCOUNTING STANDARDS AND INTERPRETATIONS ISSUED BUT NOT YET
EFFECTIVE
The Company has adopted all of the new, revised or amending Accounting Standards and Interpretations issued by the Australian
Accounting Standards Board (‘AASB’) that are mandatory for the current reporting period.
Certain new accounting standards and interpretations have been published that are not mandatory for the current reporting period.
With the exception of AASB 2015-2 Amendments to Australian Accounting Standards – Disclosure Initiative: Amendments to AASB 101,
the Company has elected not to early adopt these new standards or amendments in the financial statements.
The Company is yet to complete a full analysis. However, the Directors do not believe that any other new or revised standards issued by
the AASB that are not yet effective will have any material impact on the financial statements.
68 The Royal Agricultural Society of Victoria Limited