Page 145 - GSA Annual Report / Jaarverslag 2013

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FINANSIËLE STATE
FINANCIAL STATEMENTS
The residual value, useful life and depreciation method
of each asset is reviewed, and adjusted if appropriate, at
the end of each reporting period. If the expectations differ
from previous estimates, the change is accounted for as
a change in accounting estimate.
Each part of an item of property, plant and equipment
with a cost that is significant in relation to the total cost of
the item, is depreciated separately.
The depreciation charge for each period is recognised in
profit or loss unless it is included in the carrying amount
of another asset.
The gains or loss arising from derecognition of an item
of property, plant and equipment are included in profit or
loss when the item is derecognised. The gains or loss
arising from derecognition of an item of property, plant
and equipment are determined as the difference be-
tween the net disposal proceeds, if any, and the carrying
amount of the item. An asset’s carrying amount is written
down immediately to its recoverable amount if the asset’s
carrying amount is greater than its estimated recoverable
amount.
1.4 Investments in subsidiaries
In the entity’s separate financial statements, investments
in subsidiaries are carried at fair value, and classified as
available for sale financial assets.
1.5 Financial instruments
Trade receivables
Trade receivables are measured at initial recognition
at fair value, and are subsequently measured at amor-
tised cost using the effective interest rate method.
Appropriate allowances for estimated irrecoverable
amounts are recognised in profit or loss when there
is objective evidence that the asset is impaired. Signifi-
cant financial difficulties of the debtor, probability that
the debtor will enter bankruptcy or financial reorganisa-
tion, and default or delinquency in payments, are
considered indicators that the trade receivable is
impaired. The allowance recognised is measured as
the difference between the asset’s carrying amount
and the present value of estimated future cashflows
discounted at the effective interest rate computed at
initial recognition.
The carrying amount of the asset is reduced through
the use of an allowance account, and the amount of
the loss is recognised in profit or loss within operating
expenses. When a trade receivable is uncollectable,
it is written off against the allowance account for
trade receivables. Subsequent recoveries of amounts
previously written off are recognised in other income.
Die reswaarde, nutsduur en depresiasiemetode van
elke bate word aan die einde van elke verslagdoenings-
tydperk nagesien. Indien die verwagting van vorige ra-
mings verskil, word die verandering as ‘n verandering in
rekeningkundige raming in berekening gebring.
Elke deel van ‘n item van masjinerie en toerusting met ‘n
koste wat in verhouding tot die totale koste van die item
beduidend is, word afsonderlik gedepresieer.
Die depresiasiekoste vir elke tydperk word in wins of ver-
lies erken tensy dit by die drabedrag van ‘n ander bate
ingesluit is.
Die wins of verlies voortspruitend uit die verkoop van ‘n
item van eiendom, aanleg en toerusting word by wins of
verlies ingesluit wanneer die item verkoop word. Die wins
of verlies voortspruitend uit die verkoop van ‘n item van
eiendom, aanleg en toerusting word bereken as die ver-
skil tussen die netto opbrengs ontvang, indien enige, en
die drabedrag van die item. ‘n Bate se drabedrag word
dadelik afgeskryf tot en met sy verhaalbare bedrag wan-
neer die bate se drabedrag groter is as die beraamde
verhaalbare bedrag.
1.4 Beleggings in filiale
In die entiteit se afsonderlike finansiële jaarstate word
beleggings in filiale gedra teen billike waarde, en as
beskikbaar vir verkoop finansiële bates geklassifiseer.
1.5 Finansiële instrumente
Handelsdebiteure
Handelsdebiteure word met aanvanklike erkenning teen
billike waarde en daarna teen die geamortiseerde koste
bereken deur die effektiewe rentekoersmetode te gebruik.
Toepaslike voorsiening vir beraamde onverhaalbare
bedrae word in wins of verlies erken wanneer daar ob-
jektiewe bewyse is dat die bate oninbaar is. Beduidende
finansiële probleme van die debiteur, die waarskynlikheid
dat die debiteur bankrot verklaar sal word of finansiële
herorganisasie sal ondergaan en wanbetaling of agterstal-
ligheid van betalings word as aanduiders beskou dat die
handelsdebiteure aan waardedaling onderhewig is. Die
erkende voorsienings word bereken as die verskil tussen
die bate se drabedrag en die huidige waarde van die be-
raamde toekomstige kontantvloei, verdiskonteer teen die
effektiewe rentekoersmetode met aanvanklike erkenning.
Die drabedrag van die bate word verminder deur die ge-
bruik van ‘n voorsieningsrekening en die bedrag van die
verlies word in die wins of verlies in bedryfskoste erken.
Wanneer ‘n handelsdebiteure oninvorderbaar is, word
dit afgeskryf teen die voorsieningsrekening vir handels-
debiteure. Bedrae wat voorheen afgeskryf is en daarna
ingevorder word, word in ander inkomste erken.
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