Statement of Comprehensive Income
Statement of Comprehensive Income for the period ended 30 June 2020 | |||||
2020 | 2019 | Original Budget | |||
|---|---|---|---|---|---|
Notes | $'000 | $'000 | $'000 | ||
NET COST OF SERVICES | |||||
Expenses | |||||
Employee Benefits | 1,892 | 1,447 | 1,648 | ||
Suppliers | 1,387 | 2,119 | 1,963 | ||
Depreciation and amortisation | 322 | 42 | 59 | ||
Finance Costs | 3 | - | - | ||
Impairment Loss Allowance on Financial Instruments | 3 | - | - | ||
Total expenses | 3,606 | 3,608 | 3,670 | ||
Own-Source Income | |||||
Own-source revenue | |||||
Revenue from contracts with customers | 173 | 226 | 225 | ||
Other Revenue | 60 | 80 | 73 | ||
Total own-source revenue | 233 | 306 | 298 | ||
Total own-source income | 233 | 306 | 298 | ||
Net (cost of)/contribution by services | (3,373) | (3,302) | (3,372) | ||
Revenue from Government | 3,313 | 3,318 | 3,313 | ||
Surplus/(Deficit) on continuing operations | (60) | 16 | (59) | ||
Total Comprehensive income/(loss) | (60) | 16 | (59) | ||
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. | |||||
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