Page 143 - GSA Annual Report / Jaarverslag 2013

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FINANSIËLE STATE
FINANCIAL STATEMENTS
1. Aanbieding van finansiële jaarstate
Die gekonsolideerde finansiële jaarstate is ooreen-
komstig die Internasionale Finansiële Rapportering-
standaarde vir Klein en Mediumgrootte Ondernemings
opgestel. Die gekonsolideerde finansiële jaarstate is op
die historiesekoste-grondslag opgestel. Dit word in Suid-
Afrikaanse rand aangebied.
Die rekeningkundige beleid stem ooreen met die vorige
tydperk, buiten vir die veranderings wat in aantekening
20 – Eerste toepassing van die Internasionale Finansiële
Rapporteringstandaarde vir Klein en Mediumgrootte
Ondernemings uiteengesit word, asook aantekening
21 – Verandering in rekeningkundige beleid.
1.1 Beduidende ramings
Met die opstel van die gekonsolideerde finansiële
jaarstate moet die bestuur sekere ramings en veronder-
stellings maak wat die bedrae kan beïnvloed wat in die
gekonsolideerde finansiële jaarstate weerspieël word,
sowel as verwante openbaarmakings. Die gebruik van
beskikbare inligting en die toepassing van oordeel is eie
aan ramings onderhewig. Die werklike toekomstige re-
sultate kan van dié ramings verskil, wat van beduidende
belang vir die gekonsolideerde finansiële jaarstate kan
wees. Belangrike ramings sluit in:
Lenings en debiteure
Die entiteit evalueer sy lenings en debiteure op elke
verslagdoeningsdatum vir waardedaling. Wanneer daar
bepaal word of ‘n waardedalingsverlies in die staat van
omvattende inkomste aangeteken moet word, besluit die
entiteit of daar waarneembare data is wat ‘n meetbare
afname in die beraamde toekomstige kontantvloei van ‘n
finansiële bate aandui.
Die waardedaling vir lenings en debiteure word op ‘n por-
tefeuljegrondslag bereken, gegrond op historiese verlies-
verhoudings wat aangepas is vir nasionale en bedryfspesi-
fieke ekonomiese toestande en ander aanduiders op die
verslagdoeningsdatum wat met gebreke in die portefeulje
verband hou. Dié jaarlikse verliesverhoudings word toege-
pas op leningsaldo’s in die portefeulje en volgens skaal by
die beraamde verliesvoorkomstydperk aangepas.
1.2 Beleggingseiendom
Beleggingseiendom word as ‘n bate erken wanneer en
slegs wanneer dit waarskynlik is dat die toekomstige
ekonomiese voordeel wat met die beleggingseiendom ge-
assosieer word, die onderneming sal toekom en die koste
van die beleggingseiendom betroubaar bepaal kan word.
Beleggingseiendom word aanvanklik teen kosprys erken.
Transaksiekoste word by die aanvanklike berekening ingesluit.
1. Accounting policy and presentation
The annual consolidated financial statements have been
prepared in accordance with the International Financial
Reporting Standard for Small and Medium-sized Entities.
The consolidated financial statements are prepared on
the historical cost basis. They are presented in South
African rands.
The accounting policy is consistent with the prior period,
except for the changes indicated in note 20 – First time
adoption of the International Financial Reporting Stand-
ard for Small en Medium-sized entities, as well as note
21 – Change in accounting policy.
1.1 Significant judgements and sources of estimation
uncertainty
In preparing the annual consolidated financial state-
ments, management is required to make estimations and
assumptions that affect the amounts represented in the
annual consolidated financial statements and related dis-
closures. Use of available information and the application
of judgement is inherent in the formation of estimates.
Actual results in future could differ from these estimates
which may be material to the annual consolidated finan-
cial statements. Significant judgements include:
Trade receivables and loans and receivables
The company assesses its trade receivables and loans
and receivables for impairment at the end of each report-
ing period. In determining whether an impairment loss
should be recorded in profit or loss, the company makes
judgements as to whether there is observable data
indicating a measurable decrease in the estimated future
cashflows from a financial asset.
The impairment for trade receivables and loans and
receivables are calculated on a portfolio basis, based
on historical loss ratios, adjusted for national and
industry specific economic conditions and other
indicators present at the reporting date that
correlate with defaults on the portfolio. These
annual loss ratios are applied to loan balances in the
portfolio and scaled to the estimated loss
emergence period.
1.2 Investment property
Investment property is recognised as an asset when,
and only when, it is probable that the future economic
benefits that are associated with the investment property
will flow to the enterprise, and the cost of the investment
property can be measured reliably.
Investment property is initially recognised at cost. Trans-
action costs are included in the initial measurement.
AANTEKENINGE TOT DIE GEKON-
SOLIDEERDE FINANSIËLE STATE
vir die jaar geëindig 30 September 2013
NOTES TO THE CONSOLIDATED
FINANCIAL STATEMENTS
for the year ended 30 September 2013