Annual Report 2017-18 | Monash Health
You also want an ePaper? Increase the reach of your titles
YUMPU automatically turns print PDFs into web optimized ePapers that Google loves.
Notes to the Financial Statements<br />
<strong>Monash</strong> <strong>Health</strong> <strong>Annual</strong> <strong>Report</strong> <strong>2017</strong>/20<strong>18</strong><br />
Note 2.2: Assets received free of charge or for nominal<br />
consideration<br />
During the reporting period, the fair value of assets<br />
received free of charge, was as follows:<br />
Consolidated Consolidated<br />
20<strong>18</strong> <strong>2017</strong><br />
$'000 $'000<br />
Medical Equipment 136 713<br />
TOTAL 136 713<br />
Medical Equipment was gifted from various donors.<br />
The revenues and assets recognised as a result of such transactions shall be measured at the<br />
fair value of resources received.<br />
Fair value of assets and services received free of charge or for nominal consideration<br />
Resources received free of charge or for nominal consideration are recognised at their fair<br />
value when the transferee obtains control over them, irrespective of whether restrictions or<br />
conditions are imposed over the use of the contributions, unless received from another <strong>Health</strong><br />
Service or agency as a consequence of a restructuring of administrative arrangements. In the<br />
latter case, such transfer will be recognised at carrying amount. Contributions in the form of<br />
services are only recognised when a fair value can be reliably determined and the services<br />
would have been purchased if not received as a donation.<br />
82 <strong>Monash</strong> <strong>Health</strong> <strong>Annual</strong> <strong>Report</strong> <strong>2017</strong>-<strong>18</strong>
Change language