Statement of Changes in Equity
for the period ended 30 June 2021
2021 | 2020 | Original Budget1 | |
$'000 | $'000 | $'000 | |
CONTRIBUTED EQUITY | |||
Opening balance | |||
Balance carried forward from previous period | 3,983 | 3,909 | 3,983 |
Contribution by owners | |||
Equity injection | 74 | 74 | 74 |
Closing balance as at 30 June | 4,057 | 3,983 | 4,057 |
ASSET REVALUATION RESERVE | |||
Opening balance | |||
Balance carried forward from previous period | 15,949 | 15,847 | 15,949 |
Comprehensive income | |||
Changes in asset revaluation reserve | 844 | 102 | - |
Closing balance as at 30 June | 16,793 | 15,949 | 15,949 |
RETAINED EARNINGS | |||
Opening balance | |||
Balance carried forward from previous period | 24,322 | 21,331 | 24,322 |
Adjustment on initial application of AASB15/1058 | - | 3,380 | - |
Adjusted opening balance | 24,322 | 24,711 | 24,322 |
Comprehensive income | |||
Deficit for the period | (457) | (389) | - |
Closing balance as at 30 June | 23,865 | 24,322 | 24,322 |
TOTAL EQUITY | |||
Opening balance | |||
Balance carried forward from previous period | 44,254 | 41,087 | 44,254 |
Adjustment on initial application of AASB15/1058 | - | 3,380 | - |
Adjusted opening balance | 44,254 | 44,467 | 44,254 |
Comprehensive income | |||
Deficit for the period | (457) | (389) | - |
Revaluation increment | 844 | 102 | - |
Total comprehensive income | 387 | (287) | - |
Contributions by owners | |||
Equity injection | 74 | 74 | 74 |
The above statement should be read in conjunction with the accompanying notes.
1 Budget reported in Portfolio Budget Statements 2020-21.
ACCOUNTING POLICY – EQUITY INJECTION:
Equity injection amounts appropriated which are designated as ‘equity injections’ for a year (less any formal reductions) are recognised directly in contributed equity in that year.
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https://www.transparency.gov.au/annual-reports/australian-institute-aboriginal-and-torres-strait-islander-studies/reporting-year/2020-21-27