Royal Botanic Gardens Victoria Annual Report 2018-19

8. OTHER DISCLOSURES
8. OTHER DISCLOSURES
Introduction
This section includes additional material disclosures
required by accounting standards or otherwise, for the
understanding of this financial report.
Structure
8.1 Other economic flows included in net result ……………….......... 108
8.2 Non-financial assets held-for-sale….…………….....…..………… 108
8.3 Reserves.……….……...…….……..…..…....…......……...…….109
8.4 Responsible persons…….....………….……..….………….…………. 109
8.5 Remuneration of executives………..…………..…...…………………… 110
8.6 Related parties…………..………..….……………..…………………………
110
8.7 Remuneration of auditors………...….….…….………..…………….... 111
8.8 Other accounting policies..………….…………..…..….…………111
8.9 Change in accounting policies...………...…...…………….……….. 111
8.10 Australian Accounting Standards issued that are not yet
effective…………………..………......………………………….112
8.11 Glossary of technical terms………...……………….………………… 114
8.12 Style conventions………….……….…..………………………………. 37 116
8.1 Other economic flows included in net result
Other economic flows are changes in the volume or value of an asset or liability that do not result from transactions. Other gains/(losses)
from other economic flows include the gains or losses from the revaluation of the present value of the long service leave liability due to
changes in the bond interest rates.
Net gain/(loss) on non-financial assets
Net gain/(loss) on disposal of property, plant and equipment 19,062
Impairment of property, plant and equipment -
Write down of inventory (4,917)
14,145
Net gain/(loss) on financial instruments
Net FX gain/(loss) arising from foreign cash held (535)
(535)
Other gains/(losses) from economic flows
Net gain/(loss) arising from revaluation of long service leave liability 168,181
168,181
2019
$
2018
$
13,288
-
(2,524)
10,764
1,540
1,540
4,523
4,523
8.2 Non-financial assets held-for-sale
The following non-financial assets held-for-sale exist at the reporting date:
2019
$
2018
$
Non-current assets
Leased vehicles held-for-sale (a) -
-
Liabilities
Finance lease liabilities -
-
19,756
19,756
17,646
17,646
Note (a): The Board holds vehicles under the leasing arrangement with DTF which are awaiting sale at the end of the reporting period. No impairment loss was
recognised on re-classification of vehicles held-for-sale or at the end of the reporting period.
108
Royal Botanic Gardens Board Victoria 2018-19 Financial Report Page 31