Financial Performance 1 Expense Bad And Doubtful Debts And Provision For Doubtful Debts Amount The amount of bad debts, doubtful debts and/or provision for bad and doubtful debts. Bad debt is the amount owed by a debtor that is unlikely to be paid. Doubtful debt is an amount owed by a debtor that may not be received. As the doubtful debt becomes a bad debt, it may be written off to the provision for doubtful debts or alternatively charged (expensed) to the profit and loss account if there is no provision. Expense Bad And Doubtful Debts Amount For interpretation/definition of this item refer to the Australian Accounting Standards, as an example, see provided reference Expense Balancing Items Amount This element is the balancing item in a list of Expense items. It is the difference between "Expense.Total.Amount" and the separately disclosed items in the list. Expense Capital Amount Capital is any asset with an effective life greater than 12 months and a cost exceeding $1. As many clients are part of the simplified tax system this is generally purchases which are not consumable and cost more than $1,. No legal definition exits for capital purchases. Represents the total amount that the client spent on capital purchases for the period. Creditable acquisition-You acquire anything for a creditable purpose, the supply of the thing to you is a taxable supply and you are registered or required to be registered. Expense Computer Software Amount Computer software expensed is the cost of acquiring, developing or commissioning software for the purpose of performing the functions for which it was acquired or developed. The development of web sites is included in the scope of computer software. Expense Depreciation and Amortisation Amount Depreciation is the diminution in value of a fixed asset due to wear and tear or obsolescence over its useful life. In the case of an intangible asset, the term 'amortisation' is generally used instead of 'depreciation'. Amortisation of Intangible Assets Finite life An intangible asset with a finite useful life is systematically amortised over its useful life from the time that it is available for use until it is either derecognised or classified as held for sale in accordance with International Financial Reporting Standards (IFRS) 5 Non-current assets held for sale and discontinued operations. The amortisation period and method must be reviewed at least at the end of each reporting period and changes are accounted for as changes in accounting estimates (see International Accounting Standards [IAS] 8 Accounting policies, changes in accounting estimates and errors). The residual value is assumed to be zero unless there is: - a commitment by a third party to purchase the asset at the end of its useful life, or - an active market for the asset in which its residual value can be determined and it is probable that such a market will exist at the end of the asset's useful life. Indefinite life An intangible asset with an indefinite useful life shall not be amortised. Instead, such intangible assets are tested for impairment annually and whenever there is an indication that the intangible asset may be impaired in accordance with IAS 36 Impairment of assets. An asset is regarded as having an indefinite useful life when, based on an analysis of all the relevant factors, there is no foreseeable limit to the period over which the asset is expected to generate net cash inflows for the entity. The useful life shall be reviewed annually to determine whether circumstances continue to support an indefinite useful life assessment. If a change is required to a finite useful life, the change in estimate shall be accounted for in accordance with IAS 8. A finance lease may have depreciation/amortisation expenses associated with it. A Financial Lease is a contract between lessor and lessee whereby the lessor purchases a good that is put at the disposal of the lessee and the lessee pays rentals that enable the lessor, over the period of the contract, to cover all, or virtually all, costs, including interest; all the risks and rewards of ownership are, de facto, transferred from the legal owner of the good (the lessor) to the user of the good (the lessee). Includes: (for lessees only) - Depreciation/amortisation expenses in respect of finance leases. Excludes: (for lessors only) - Depreciation/amortisation expenses in respect of finance leases. Expense Freight And Cartage Other Amount Freight and cartage expenses are the cost of transporting (carting) goods or merchandise either by land, water or air other than from the producer/supplier of the goods to the purchaser of the goods. This is freight and cartage expenses other than outward freight and cartage expenses elsewhere classified. Expense Gambling Taxes Levies Amount Gambling taxes and/or levies paid are expenses incurred by an entity and paid to the government when gambling wins are assessed as being income associated with the business activity. Expense Insurance Premiums With Exclusions Amount Insurance premiums refer to payments made for a legal contract in which an insurer promises to pay a specified amount to a party, the insured, if a particular event (known as a peril) happens and the insured suffers a financial loss as a result. The insured's part of the contract is to promise to pay an amount of money, known as a premium, either at once or at a regular intervals. In order for an insurance contract to be valid, the insured must have an insurable interest. Excludes some insurance premium expenses. Expense Insurance Amount Gross expenditure relating to insurance, such as premiums. Expense Intangible Property Other Amount Intangible property expenses not classified elsewhere. Expense Interest And Discounts Amount Gross expenditure relating to interest or discounts. Expense Interest Amount Interest expenses refers to expenditure on charges made against the borrowing of a sum of money. Interest expenses are usually paid on loans from banks and other financial institutions, in respect of finance leases, on loans from related businesses, and/or on interest equivalents such as hedging costs and discounted bills. Interest expenses exclude bank service fee charges and capital repayments. Some entities also directly issue debt securities and not just discounted bills and the coupon payments on them are also interest. Expense Land Tax And Land Rates Amount Land tax and land rates refers to the annual tax assessed to the owner of the land. Land tax is imposed by all States (including the Australian Capital Territory (ACT), but not Northern Territory (NT)) and is normally based on ownership or use of the land, except in the Australian Capital Territory (ACT) where the tax is also payable on leases of land. The imposition of land tax is controlled by seven separate legislatures and is broadly based on the unimproved value of the land. Land rates are annual charges levied by local Government for the provision of local Government services. Examples of local Government services include road maintenance, park maintenance, libraries, street lighting and acting as a planning authority. Expense Land Tax Amount The amount of Land Tax incurred. Expense Levies And Charges Amount This item will include levies and charges payable by the entity. It excludes the amounts collected on behalf of third parties. Expense Material Items Text For interpretation/definition of this item refer to the Australian Accounting Standards, as an example, see provided reference Expense Natural Resource Royalties Amount A royalty is defined as a right to use the property of another person for economic gain. Natural resources are defined as unexploited products of nature that have economic value e.g. forests, petroleum deposits, ore deposits. Natural resource royalties expenses refers to the payments a business makes to a landowner in exchange for the right to the natural resources contained on that land. This commonly takes the form of mineral lease arrangements for the rights to minerals extracted from land which is owned by another person. It also includes royalties paid under timber and quarrying lease arrangements. Expense Non Capital Amount This is any item which is not an item of capital and includes trading stock and consumables. Represents the total amount that the client spent on non capital purchases for the period. Creditable acquisition-You acquire anything for a creditable purpose, the supply of the thing to you is a taxable supply and you are registered or required to be registered. Expense Operating Expenses Largest Item Other Amount Operating expenses are defined as expenses incurred in the ordinary activities of an entity. Other operating expenses refers to all operating expenses incurred other than: * labour costs; * insurance premiums; * interest expenses; * depreciation amortisation; * bad and doubtful debts; * purchases; * land tax and land rates; and * computer software expensed. Includes: * any gambling taxes and/or levies paid. Excludes: * gambling payouts and rebates to players; * unrealised gains (losses) from revaluation of assets in accordance with Australian equivalents to International Financial Reporting Standards (AIFRS) * sales taxes and excises payable to governments; * dividends; * income tax and other direct taxes; * costs associated with the transfer of real estate; * export freight charges; * share based payments; * losses on sales of assets; * losses resulting from variations in foreign exchange rates; * donations made to related and unrelated organisations/individuals; * changes in inventories; * capital repayments including those associated with finance leases; and * expenses relating to employer funded defined benefit schemes. Other operating expenses - Value of largest item(s) refers to the value of the largest item(s) of expenses incurred other than those which are derived from the direct operating activities of the business. Note: * This amount is reported on an accruals basis. * This amount is reported exclusive of Goods and Services Tax (GST). * Include only the Australian-based activities (including imports, exports and participation in any unincorporated joint ventures). * Items listed under 'Including' and 'Excluding' are examples and are not exhaustive. Expense Other Operating Expenses Largest Item Description Operating expenses are defined as expenses incurred in the ordinary activities of an entity. Other operating expenses refers to all operating expenses incurred other than: * labour costs; * insurance premiums; * interest expenses; * depreciation amortisation; * bad and doubtful debts; * purchases; * land tax and land rates; and * computer software expensed. Includes: * any gambling taxes and/or levies paid. Excludes: * gambling payouts and rebates to players; * unrealised gains (losses) from revaluation of assets in accordance with Australian equivalents to International Financial Reporting Standards (AIFRS) * sales taxes and excises payable to governments; * dividends; * income tax and other direct taxes; * costs associated with the transfer of real estate; * export freight charges; * share based payments; * losses on sales of assets; * losses resulting from variations in foreign exchange rates; * donations made to related and unrelated organisations/individuals; * changes in inventories; * capital repayments including those associated with finance leases; and * expenses relating to employer funded defined benefit schemes. Other operating expenses - Description of largest item(s) refers to the description of the largest item(s) of expenses incurred other than those which are derived from the direct operating activities of the business. Note: * Include only the Australian-based activities (including imports, exports and participation in any unincorporated joint ventures). * Items listed under 'Including' and 'Excluding' are examples and are not exhaustive. Expense Other Operating Amount Operating expenses are defined as expenses incurred in the ordinary activities of an entity. Other operating expenses refers to all operating expenses incurred that are not collected elsewhere. Expense Other Amount Expenses not classified elsewhere. Expense Outward Freight and Cartage Amount Outward freight and cartage expenses are the cost of transporting (carting) goods or merchandise either by land, water or air from the producer/supplier of the goods to the purchaser of the goods. Expense Plant Recouped Depreciation On Property Sale Amount The amount of deductible capital allowances for depreciating assets recouped on the sale of the property. Expense Rent Other Than Royalties Amount Rent other than royalties includes gross expenditure for the use of, or the right to use, property, both tangible and intangible, not included as royalties. Expense Research And Development Amount Gross purchases or expenditure relating to research and development services. Expense Restructuring Costs Amount For interpretation/definition of this item refer to the Australian Accounting Standards, as an example, see provided reference Expense Reversal Of Provisions For Restructuring Costs Amount For interpretation/definition of this item refer to the Australian Accounting Standards, as an example, see provided reference Expense Royalties Other Amount A royalty is defined as a right to use the property of another person for economic gain. This is usually an intellectual property, such as a copyright (e.g. in a book) or a patent (e.g. in an invention). Natural resources are defined as unexploited products of nature that have economic value e.g. forests, petroleum deposits, ore deposits. Natural resource royalties refers to the right to use the unexploited products of nature which have economic value on land owned by another person for economic gain. Royalties expenses excluding natural resource royalties refers to the payments a business makes in exchange for the right to use the property of another person for economic gain, other than for natural resource royalties. Expense Royalties Amount Royalties are payments made by a business for the right to use any long-term assets for gain. Assets for which royalties are often charged include intellectual property and minerals. Includes: * payments made under licensing arrangements; * royalties paid for patents and copyrights; * royalties paid for timber and quarrying; and * royalties paid for the sub-leasing of land for mineral leases. Expense Services Management Financial Administrative Marketing And Training Amount Gross purchases or expenditure relating to management, financial, administrative, marketing and training services. Expense Services Other Amount Service expenses not classifed elsewhere. Expense Services Technical And Construction Amount Gross purchases or expenditure relating to technical and construction services. Expense Tangible Property Other Amount Tangible property expenses not classified elsewhere. Expense Tangible Property Stock In Trade And Raw Materials Amount The gross purchases or expenditure for trading stock and raw materials. Expense Total Amount Expenses are consumptions or losses of future economic benefits in the form of reductions in assets or increases in liabilities of the entity, other than those relating to distributions to owners, that result in a decrease in equity. Expense Transaction Costs Amount For interpretation/definition of this item refer to the Australian Accounting Standards, as an example, see provided reference Expense Travel Amount The amount incurred on travel expenses relating toa particular item. Expense UnionOrProfessionalAssociationFee Amount Inform the relevant field with the total of amounts paid to unions or professional bodies on behalf of the employee. The total of amounts paid to unions or professional associations on behalf of the payee. Expense WorkplaceGiving Amount Employers and their staff can choose to donate to any organisation they like as long as the organisation is eligible to receive tax deductible gifts, that is, the organisation must be a deductible gift recipient (DGR). Do not include cents. The total of amounts paid by the employer on behalf of the payee to allow employees to make regular donations to eligible charities through a payroll system. Financial Concept Item Order Number The index that allows the Financial Concept items to be ordered. Financial Concept Item Type Code Determines the kind of Financial Concept being decomposed into items. Financial Concept Item Amount The monetary value attached to a Financial Concept Item. Financial Concept Item Description Describes the nature of the Financial Concept Item. This element allows the Financial Concept to be broken down into items which will each have a corresponding amount defined using the element Financial Concept.Item.Amount Income Actuarial Gains Or Losses On Defined Benefit Plans Gross Amount For interpretation/definition of this item refer to the Australian Accounting Standards, as an example, see provided reference Income Actuarial Gains Or Losses On Defined Benefit Plans Net Amount For interpretation/definition of this item refer to the Australian Accounting Standards, as an example, see provided reference Income Adjustments On Cash Flow Hedges For Amounts Transferred To Initial Carrying Amount Gross Amount For interpretation/definition of this item refer to the Australian Accounting Standards, as an example, see provided reference Income Associates And Joint Ventures Accounted For Using Equity Method Gross Amount For interpretation/definition of this item refer to the Australian Accounting Standards, as an example, see provided reference Income Associates And Joint Ventures Accounted For Using Equity Method Net Amount For interpretation/definition of this item refer to the Australian Accounting Standards, as an example, see provided reference Income Available For Sale Financial Assets Gross Amount For interpretation/definition of this item refer to the Australian Accounting Standards, as an example, see provided reference Income Available For Sale Financial Assets Net Amount For interpretation/definition of this item refer to the Australian Accounting Standards, as an example, see provided reference Income Capital Gains Net Amount An entity's net capital gain for the reporting period is the total of the capital gains for the reporting period reduced by any capital losses for the reporting period. (If the capital losses for the reporting period exceed the capital gains, the difference is a net capital loss). Remaining capital gains are reduced, in any order, by any unapplied net capital losses from previous reporting periods. Any remaining discount capital gains, if applicable, are reduced by the discount percentage. (For further information on discount capital gains and the discount percentage see Division 115 of ITAA 1997) If the entity is carrying on a small business, apply the small business concessions to further reduce the capital gains (whether or not the gains are discount capital gains). (For the small business concessions see Division 152 of ITAA 1997). Add up any remaining capital gains that are not discount capital gains and any remaining discount capital gains. The total is the entity's net capital gain. Income Capital Gains Or Losses Events And Assets Other Amount The amount of capital gains on assets from other Capital Gains Tax (CGT) assets and any other CGT events. Income Capital Gains Or Losses Real Estate Amount The amount of Capital gains on assets from real estate. Real estate includes vacant blocks of land, business premises, rental properties, holiday houses and hobby farms. Income Capital Gains Or Losses Shares And Units Amount The amount of capital gains on assets from shares and units (in unit trusts). Income Cash Flow Hedges Gross Amount For interpretation/definition of this item refer to the Australian Accounting Standards, as an example, see provided reference Income Cash Flow Hedges Net Amount For interpretation/definition of this item refer to the Australian Accounting Standards, as an example, see provided reference Income Comprehensive Income Attributable To Non Controlling Interests Amount For interpretation/definition of this item refer to the Australian Accounting Standards, as an example, see provided reference Income Comprehensive Income Attributable To Owners Of Parent Amount For interpretation/definition of this item refer to the Australian Accounting Standards, as an example, see provided reference Income Comprehensive Income Before Tax Net Investment Hedges Amount For interpretation/definition of this item refer to the Australian Accounting Standards, as an example, see provided reference Income Comprehensive Income Gross Total Amount For interpretation/definition of this item refer to the Australian Accounting Standards, as an example, see provided reference Income Comprehensive Income Net Of Tax Net Investment Hedges Other Amount For interpretation/definition of this item refer to the Australian Accounting Standards, as an example, see provided reference Income Comprehensive Income Net Total Amount For interpretation/definition of this item refer to the Australian Accounting Standards, as an example, see provided reference Income Consolidated Amount If the company is a large proprietary company that is not a disclosing entity, some further information as at the end of the financial year for which the financial statements relate is required. Income Disclosure Government Grants Text For interpretation/definition of this item refer to the Australian Accounting Standards, as an example, see provided reference Income Disclosure Other Text For interpretation/definition of this item refer to the Australian Accounting Standards, as an example, see provided reference Income Disclosure Text For interpretation/definition of this item refer to the Australian Accounting Standards, as an example, see provided reference Income Distributions From Joint Venture Amount For interpretation/definition of this item refer to the Australian Accounting Standards, as an example, see provided reference Income Distributions From Unit Trusts Amount For interpretation/definition of this item refer to the Australian Accounting Standards, as an example, see provided reference Income Dividends Franked Amount A dividend amount paid to a shareholder by an Australian resident company from profits on which tax has already been paid. Income Dividends Total Amount Dividends are distributions of profits to the shareholders of a company in proportion to their holdings of a particular class of capital. Income from dividends for the quarter refers to the returns received from the proportion of shares held in a company during the reference period. Income Dividends Unfranked Amount A dividend amount paid by an Australian resident company from profits on which no company tax has been paid. Income Fees And Commissions Other Amount This is the amount of the detailed line items within the balancing item within the list in which it is being used Income Fees And Commissions Other Description This is the description of the detailed line items within the balancing item within the list in which it is being used Income Forestry Managed Investment Scheme Income Amount Total amount of the income from each Forestry Managed Investment Scheme (FMIS) activities in which the entity holds a forestry interest. Income Gains Or Losses On Cash Flow Hedges Gross Amount For interpretation/definition of this item refer to the Australian Accounting Standards, as an example, see provided reference Income Gains Or Losses On Cash Flow Hedges Net Amount For interpretation/definition of this item refer to the Australian Accounting Standards, as an example, see provided reference Income Gains Or Losses On Foreign Exchange Before Reclassification Adjustments Gross Amount For interpretation/definition of this item refer to the Australian Accounting Standards, as an example, see provided reference Income Gains Or Losses On Foreign Exchange Before Reclassification Adjustments Net Amount For interpretation/definition of this item refer to the Australian Accounting Standards, as an example, see provided reference Income Gains Or Losses On Foreign Exchange Gross Amount The gains or losses derived from holding monetary items, payable or receivable, in a foreign currency when exchange rates change. This amount is before tax. Income Gains Or Losses On Remeasuring Available For Sale Financial Assets Gross Amount For interpretation/definition of this item refer to the Australian Accounting Standards, as an example, see provided reference Income Gains Or Losses On Remeasuring Available For Sale Financial Assets Net Amount For interpretation/definition of this item refer to the Australian Accounting Standards, as an example, see provided reference Income Gains Or Losses On Revaluation Gross Amount For interpretation/definition of this item refer to the Australian Accounting Standards, as an example, see provided reference Income Gains Or Losses On Revaluation Net Amount For interpretation/definition of this item refer to the Australian Accounting Standards, as an example, see provided reference Income Indirect Dividends Franked Amount The franked component of a dividend amount paid by an Australian resident company (i.e. from profits on which company tax has been paid) received indirectly through another entity. Income Indirect Dividends Unfranked Amount The unfranked component of a dividend amount paid by an Australian resident company (i.e. from profits on which no company tax has been paid) received indirectly through another entity. Income Insurance Amount Gross revenue from insurance dealings, including settlements. Income Intangible Property Other Amount Intangible property income not classified elsewhere. Income Interest And Discounts Amount Gross revenue relating to interest or discounts. Income Internet Sales Indicator Inform in the affirmative if the entity used the internet to:- receive orders for goods and/or services; - receive payment for goods and/or services; - deliver goods and/or services. Inform in the negative if the entity used the internet only to: - advertise the entity's goods or services - give support to the entity's customers - buy the entity's stock - do the entity's banking online. Income Net Foreign Exchange Gains Or Losses Amount The gains or losses derived from holding monetary items, payable or receivable, in a foreign currency when exchange rates change. Income Net Investment Hedges Net Amount For interpretation/definition of this item refer to the Australian Accounting Standards, as an example, see provided reference Income Non Current Assets Sale Amount Profit or loss on the sale of non-current assets is the residual amount between the sales price and the asset value recorded in the entity's balance of non-current assets when they are sold. Non-current assets are defined as those assets which the business intends to retain for a period in excess of 12 months. Non-current assets includes plant, machinery and equipment, land, and intangible assets such as goodwill, patents, trademarks, copyrights and licences. Income Non Members Percent The percentage of total income attributable to non-members - that is, visitors - related to licensed clubs only. Income Other Operating Or Non Interest Income Total Amount This is a balancing item between Interest income and Total operating income, defined in this form only Income Other Total Amount This is a balancing item within the list in which it is being used Income Other Amount Income is defined as increases in economic benefits during the accounting period in the form of inflows or enhancements of assets, or decreases in liabilities that result in increases in equity other than those relating to contributions from equity participants. Other income refers to income which is not derived from the direct operating activities of the business. Income Other Code F - Forex gains C - LIC capital gain amount B - Assessable balancing adjustment amount R - Rebate or refund of premium paid to provide death or disability benefits W - Gross payments subject to foreign resident withholding O - Other income received not listed above Enter the Code that best describes the greatest amount included in reported "Other income". Income Other Description This is the description of the detailed line items within the balancing item within the list in which it is being used Income Proceeds On Disposal Real Estate Amount The amount received from the sale of the property Income Real Estate Related Income Other Amount The full amount of other related rental income. Income Reclassification Adjustments On Available For Sale Financial Assets Gross Amount For interpretation/definition of this item refer to the Australian Accounting Standards, as an example, see provided reference Income Reclassification Adjustments On Available For Sale Financial Assets Net Amount For interpretation/definition of this item refer to the Australian Accounting Standards, as an example, see provided reference Income Reclassification Adjustments On Cash Flow Hedges Gross Amount For interpretation/definition of this item refer to the Australian Accounting Standards, as an example, see provided reference Income Reclassification Adjustments On Cash Flow Hedges Net Amount For interpretation/definition of this item refer to the Australian Accounting Standards, as an example, see provided reference Income Reclassification Adjustments On Foreign Exchange Differences Gross Amount For interpretation/definition of this item refer to the Australian Accounting Standards, as an example, see provided reference Income Reclassification Adjustments On Foreign Exchange Differences Net Amount For interpretation/definition of this item refer to the Australian Accounting Standards, as an example, see provided reference Income Rent Leasing Hiring Amount Income from rent, leasing and hiring is the payment received by the owner of goods such as land, buildings and other structures, motor vehicles, plant, machinery and equipment when the owner rents, leases or hires them to a second party. Rent and hiring income is obtained from payment made for the use of land or property usually, but not necessarily, based on a lease. A lease is an agreement whereby the owner of an asset, the lessor, conveys to another party, the lessee, the right to use the asset for an agreed period of time in return for a payment or series of payments. This includes income from operating leases but excludes income from finance leases. Income Rent Other Than Royalties Amount Rent other than royalties includes revenue for the use of, or the right to use, property, both tangible and intangible, not included as royalties. Income Research And Development Amount Gross sales or revenue relating to research and development services. Income Royalties Amount Royalties are payments received by a business for the right to use its long-term assets for gain. Assets for which royalties are often charged include intellectual property and minerals. Income Sale Of Goods Amount For interpretation/definition of this item refer to the Australian Accounting Standards, as an example, see provided reference Income Services Construction Amount Gross sales or revenue relating to construction services. Income Services Management Financial Administrative Marketing And Training Amount Gross sales or revenue relating to management, financial, administrative, marketing and training services. Income Services Other Amount Service income not classifed elsewhere. Income Services Amount Services are defined as economic goods which are intangible and do not result in the transfer or ownership of any physical object. In some cases these require the physical presence of the customer, as for example with hairdressing, medical treatment or live entertainment. In other cases services can be performed at a distance for example, legal representation or insurance. Income from services is the amount received when the sale of a service is made. Income Tangible Property Other Amount Tangible property income not classified elsewhere. Income Tangible Property Stock In Trade And Raw Materials Amount The gross sales or revenue from trading stock and raw materials transactions. Income Total Amount Income is defined as the flow of money, goods, or services that is created by the productive use of the assets of the reporting party. Total income refers to the total amount of income earned by the reporting party from all sources. Income Trust Distribution Other Amount This is the balancing item in the list in which it is being used Income Unrealised Gains Or Losses From Asset Revaluations Amount Unrealised gains or losses from the revaluation of assets are the increments and decrements in value when assets are revalued in the books of a business to reflect their current market price. Revaluations may also result from assessed impairment of assets. A gain (or loss) is unrealised if there is no actual disposal of an asset involved.