Statement of Changes in Equity
Statement of Changes in Equity for the period ended 30 June 2020 | |||||
2020 | 2019 | Original Budget | |||
|---|---|---|---|---|---|
$’000 | $’000 | $’000 | |||
CONTRIBUTED EQUITY | |||||
Opening balance | |||||
Balance carried forward from previous period | 337 | 278 | 337 | ||
Adjusted opening balance | 337 | 278 | 337 | ||
Transactions with owners | |||||
Contributions by owners | |||||
Departmental capital budget | 59 | 59 | 59 | ||
Total transactions with owners | 59 | 59 | 59 | ||
Closing balance as at 30 June | 396 | 337 | 396 | ||
RETAINED EARNINGS | |||||
Opening balance | |||||
Balance carried forward from previous period | 3,303 | 3,287 | 3,240 | ||
Adjustment on initial application of AASB 16 | 26 | ||||
Adjusted opening balance | 3,329 | 3,287 | 3,240 | ||
Comprehensive income | |||||
Surplus/(Deficit) for the period | (60) | 16 | (59) | ||
Total comprehensive income | (60) | 16 | (59) | ||
Closing balance as at 30 June | 3,269 | 3,303 | 3,181 | ||
TOTAL EQUITY | |||||
Opening balance | |||||
Balance carried forward from previous period | 3,640 | 3,565 | 3,577 | ||
Adjustment for changes in accounting policies | 26 | - | - | ||
Adjusted opening balance | 3,666 | 3,565 | 3,577 | ||
Comprehensive income | |||||
Surplus/(Deficit) for the period | (60) | 16 | (59) | ||
Total comprehensive income | (60) | 16 | (59) | ||
Transactions with owners | |||||
Contributions by owners | |||||
Departmental capital budget | 59 | 59 | 59 | ||
Total transactions with owners | 59 | 59 | 59 | ||
Closing balance as at 30 June | 3,665 | 3,640 | 3,577 | ||
The above statement should be read in conjunction with the accompanying notes. | |||||
Accounting Policy Equity Injections Amounts appropriated which are designated as ‘equity injections’ for a year (less any formal reductions) and Departmental Capital Budgets (DCBs) are recognised directly in contributed equity in that year. | |||||
Budget Variances Commentary Statement of Changes in Equity 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. Opening balances carried forward for retained earnings and total equity reflect the budget being prepared before 2018-19 actual results were known. | |||||
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