PSR Annual Report 2007-08

• Contents
• Letter of Transmittal
• Director’s report
• Agency overview
• Report on performance
• Case descriptions
• Legal cases
• Management and accountability
• Appendix 1 - Financial Statements
  • Auditor's Report
  • Statment by the Director
  • Income Statement
  • Balance Sheet
  • Statement Of Changes In Equity
  • Cash Flow Statement
  • Schedule of Commitments
  • Schedule of Contingencies
  • Note 1: Summary of Significant Accounting Policies
    • 1.1 Objectives of Professional Services Review
    • 1.2 Basis of Preparation of the Financial Report
    • 1.3 Significant Accounting Judgements and Estimates
    • 1.4 Statement of Compliance
    • Other
    • 1.5 Revenue
    • 1.6 Gains
    • 1.7 Transactions with the Government as Owner
    • 1.8 Employee Benefits
    • 1.9 Leases
    • 1.10 Cash
    • 1.11 Financial assets
    • 1.12 Financial Liabilities
    • 1.13 Contingent Liabilities and Contingent Assets
    • 1.14 Acquisition of Assets
    • 1.15 Property, Plant and Equipment
    • 1.16 Intangibles
    • 1.17 Taxation
  • Note 2: Events after the Balance Sheet Date
  • Note 3: Income
  • Note 4: Expenses
  • Note 5: Financial Assets
  • Note 6: Non-Financial Assets
  • Note 7: Payables
  • Note 8: Provisions
  • Note 9: Cash Flow Reconciliation
  • Note 10: Contingent Liabilities and Assets
  • Note 11: Senior Executive Remuneration
  • Note 12: Remuneration of Auditors
  • Note 13: Financial Instruments
  • Note 14: Appropriations
  • Note 15: Reporting of Outcomes
• Appendix 2 - Freedom of information statement
• Glossary
• MBS items
• Compliance index

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Appendix 1 - Financial Statements

Note 1: Summary of Significant Accounting Policies

1.6 Gains

Other Resources Received Free of Charge

Resources received free of charge are recognised as gains when and only when a fair value can be reliably determined and the services would have been purchased if they had not been donated. Use of those resources is recognised as an expense.

Resources received free of charge are recorded as either revenue or gains depending on their nature.

Sale of Assets

Gains from disposal of non-current assets is recognised when control of the asset has passed to the buyer.

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