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Statement of Comprehensive Income
Statement of Comprehensive Income for the period ended 30 June 2020
NET COST OF SERVICES
Depreciation and amortisation
Impairment Loss Allowance on Financial Instruments
Revenue from contracts with customers
Total own-source revenue
Total own-source income
Net (cost of)/contribution by services
Revenue from Government
Surplus/(Deficit) on continuing operations
Total Comprehensive income/(loss)
The above statement should be read in conjunction with the accompanying notes.
Budget Variances Commentary
Statement of Comprehensive Income for not-for-profit Reporting Entities
Variances are considered to be 'major' when the difference is greater than 10% or more than $50,000 or a lesser amount if pertinent to the understanding of the financial statements.
1. Employee benefits - the variance reflects the use of non-ongoing APS staff as opposed to contractors.
2. Suppliers - the variance is a result of comment 1. combined with the adoption of AASB 16 which moved accommodation costs to depreciation.
3. Depreciation - the variance is explained in comment 2.
4. Revenue from contracts with customers - ASEA received less registrations and sponsorship than anticipated for the conference due to the event being held in Western Australia.