Note 2.5: Other Provisions
2020 | 2019 | ||
$’000 | $’000 | ||
Note 2.5A - Other provisions | |||
Provision for sales returns | 81 | 81 | |
Other provision | 238 | - | |
Total other provisions | 319 | 81 | |
Provision for sales returns | Other provision | Total | |
$’000 | $’000 | ||
As at 1 July 2019 | 81 | - | 81 |
Additional provisions made | - | 238 | 238 |
Amounts used | - | - | - |
Amounts reversed | - | - | - |
Total assets as at 30 June 2020 | 81 | 238 | 319 |
Accounting Policy
Provision for sales returns
The provision is calculated using the value of sales as at 30 June 2020, where the customer has the right of return and the reporting year's experienced rate of return to estimate the provision of future returns.
Visit
https://www.transparency.gov.au/annual-reports/national-library-australia/reporting-year/2019-20-30