Statement of changes in equity
for the period ended 30 June 2020
Retained earnings | Asset revaluation reserve | Contributed | Total equity | |||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
2020 | 2019 | Original budget | 2020 | 2019 | Original budget | 2020 | 2019 | Original budget | 2020 | 2019 | Original budget | |
$’000 | $’000 | $’000 | $’000 | $’000 | $’000 | $’000 | $’000 | $’000 | $’000 | $’000 | $’000 | |
Opening balance | ||||||||||||
Balance carried forward from previous period | 1,016 | 1,291 | 804 | 98 | 147 | 147 | 2,593 | 2,479 | 2,724 | 3,707 | 3,917 | 3,675 |
Adjustment on initial application of AASB 16 | 269 | - | - | - | - | - | - | - | - | 269 | - | - |
Adjusted opening balance | 1,285 | 1,291 | 804 | 98 | 147 | 147 | 2,593 | 2,479 | 2,724 | 3,976 | 3,917 | 3,675 |
Comprehensive income | ||||||||||||
Deficit for the period | (407) | (324) | (511) | n/a | n/a | n/a | n/a | n/a | n/a | (407) | (324) | (511) |
Other comprehensive income / (loss) | 10 | 49 | - | 133 | (49) | - | - | - | - | 143 | - | - |
Total comprehensive income / (loss) | (397) | (275) | (511) | 133 | (49) | - | - | - | - | (264) | (324) | (511) |
Transactions with owners | ||||||||||||
Distributions to owners | ||||||||||||
Returns of capital: | ||||||||||||
Equity injection - Appropriations | - | - | - | - | - | - | - | (131) | - | - | (131) | - |
Contributions by owners | ||||||||||||
Departmental capital budget | - | - | - | - | - | - | 243 | 245 | 243 | 243 | 245 | 243 |
Equity injection - Appropriations | - | - | - | - | - | - | - | - | - | - | - | - |
Total transactions with owners | - | - | - | - | - | - | 243 | 114 | 243 | 243 | 114 | 243 |
Closing balance as at 30 June | 888 | 1,016 | 293 | 231 | 98 | 147 | 2,836 | 2,593 | 2,967 | 3,955 | 3,707 | 3,407 |
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
All variances above 10% of the relevant category are considered significant and explained below.
Variances reflect the flow-on impact of items referred to in the Statement of Comprehensive Income and the Statement of Financial Position, particularly the asset revaluation and the adjustment to opening retained earnings for the lease incentive for the Canberra Office and rental payment straight lining as a result of the introduction of AASB 16.
Visit
https://www.transparency.gov.au/annual-reports/australian-centre-international-agricultural-research/reporting-year/2019-20-15