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Australian Securities and Investments Commission

Section 3: Budgeted financial statements

The budgeted financial statements will form the basis of the financial statements that will appear in the Australian Securities and Investments Commission (ASIC)'s 2001-02 Annual Report and form the basis for the input into the Whole of Government Accounts. The financial statements should be read in conjunction with the accompanying notes.

The budgeted financial statements have been prepared in accordance with the Goods and Services Tax (GST) accounting guidelines of the Urgent Issues Group (UIG) of the Australian Accounting Standards Board. The UIG consensus requires that expenses and assets be accounted for net of recoverable GST, revenues be accounted for net of GST payable and that cash flows and accounts payable and receivable be reported gross. Appropriations are thus net of recoverable GST amounts.

Agency statements

Budgeted agency statement of financial performance

This statement provides the expected financial results for ASIC by identifying full accrual expenses revenues and capital use charge, which highlights whether the Department is operating at a sustainable level.

Budgeted agency statement of financial position

This statement shows the financial position of ASIC. It helps decision-makers to track the management of ASIC's assets and liabilities.

Budgeted agency statement of cash flows

Budgeted cash flows, as reflected in the statement of cash flows, provide important information on the extent and nature of cash flows by categorising them into expected cash flows from operating activities, investing activities and financing activities.

Agency capital budget statement

This statement shows all proposed capital expenditure funded through the Budget as appropriation or from internal sources.

Agency non-financial assets - summary of movement

This statement shows the movement in APRA's non-financial assets over the Budget year.

Administered notes

Details of transactions administered by ASIC on behalf of the Commonwealth are shown in the following notes to the financial statements.

Note of budgeted administered financial performance

This note identifies the main revenues and expenses administered on behalf of the Government. It also discloses administered revenues from government and transfers to the Public Account.

Note of budgeted administered financial position

This note shows the assets and liabilities administered on behalf of the Government.

Note of budgeted administered cash flows

This note shows cash flows administered on behalf of the Government.

Table 3.1: Budgeted agency statement of financial performance
for the period ended 30 June

(1) K1 - see Table 1.1.

Table 3.2: Budgeted agency statement of financial position
as at 30 June

Table 3.3: Budgeted agency statement of cash flows
for the period ended 30 June

Table 3.4: Agency capital budget statement

Table 3.5: Agency non-financial assets - summary of movement (Budget year 2001-02)

Table 3.6: Note of budgeted administered financial performance
for the period ended 30 June

(1) K2 - see Table 1.1

Table 3.7: Note of budgeted administered financial position
as at 30 June

Table 3.8: Note of budgeted administered cash flows
for the period ended 30 June

Notes to the financial statements

Basis of accounting

The financial statements have been prepared on an accrual basis and are in accordance with the historical cost convention.

Appendix 1

Non-appropriation agency and administered revenue

Appendix 2

Estimates of expenses from special appropriations