Original source · versioned page text
2022-11-14 GC Agenda - Item 5 - Attachment 1 - Annual Report 2021-22
Very large file: it may take a few minutes
The original of this document is very large (15.1 MB). Opening the original or downloading it may take a few minutes. Please be patient and don't click again. The page text is quick to read. If you are on mobile data, it is best to wait until you are on Wi-Fi.
Text sections have not been matched to the original PDF pages. Use the original document to check page numbers.
Noosa Council
Notes to the Financial Statements
for the year ended 30 June 2022
Note 28. Changes in Accounting Policy (continued)
The useful lives are reviewed at least at the end of each financial year, and any change accounted for prospectively as a
change in accounting estimate.
Costs that do not result in intangible assets are expensed as incurred unless they represent payment for future services to be
received. In which case a prepayment is initially recognised and then expensed as those subsequent services are received.
These provisions also apply to Unitywater and as such Council’s investment in an associate has also been impacted with
comparatives being restated.
Retrospective adjustments have not been applied as the adjustments span more than 5 years.
§Total§
Changes to the opening Statement of Financial Position at 1 July 2020
Statement of Financial Position
Original Impact Restated
Balance Increase/ Balance
$ '000 1 July, 2020 (Decrease) 1 July, 2020
Equity Investment 88,040 (375) 87,665
Intangible Assets 3,211 (2,509) 702
Total Assets 1,142,095 (2,884) 1,139,211
Retained Surplus/Deficit 999,512 (2,884) 996,628
Total Community Equity 1,085,108 (2,884) 1,082,224
§Total§
Adjustments to the Comparative Figures for the year ended 30 June 2021
Statement of Financial Position
Original Impact Restated
Balance Increase/ Balance
$ '000 30 June, 2021 (Decrease) 30 June, 2021
Equity Investments 92,433 (709) 91,724
Intangibles 3,036 (2,629) 407
Total Assets 1,183,587 (3,338) 1,180,249
Total Liabilities 61,682 – 61,682
Retained Surplus / (Deficiency) 1,013,432 (3,338) 1,010,094
Total Community Equity 1,121,905 (3,338) 1,118,567
continued on next page ... Page 43 of 62
See the original
The page text is free to read. Viewing or downloading an original file needs an account.
Log in to see the originalLog in to download the original file
Very large file: the download may take a few minutes. If you are on mobile data, it is best to wait until you are on Wi-Fi.
Searchable page text hides email addresses. Original files are unchanged and may show email addresses.