Vision Australia: Blindness and low vision services 2010/11 Financial Report



About this DAISY recording



1

Contents



Corporate Directory



Directors’ Report



1. Directors

2

2. Company Secretary

3

3. Director’s Meetings

4

4. Corporate governance



4.1 Foundations for management and oversight

5

4.2 Board structure

6

4.3 Ethical and responsible decision making



4.4 Safeguarding integrity and financial reporting



7 8

4.5 Timely and balanced disclosure



4.6 Respecting rights of members

9 10

4.7 Recognising and managing risk



4.8 Remunerating fairly and responsibly

11

5. Principal Activities



6. Review of Operations



6.1 Highlights

12

6.2 Revenue



6.3 Surplus for the year

13

6.4 Impairments



7. Matters subsequent to the end of the financial year



8. Future Developments



9. Significant changes in the state of affairs



10. Members’ guarantee



11. Indemnification of officers and auditors

14

12. Auditor’s independence declaration



13. Rounding off of amounts

15

Statement of Comprehensive Income

16

Statement of Financial Position

17

Statement of Changes in Equity

18

Statement of Cash flows

19

Notes to the Financial Statements



Note 1: Reporting Entity



Note 2: Adoption of new and revised Accounting Standards

20 21 22

Note 3: Significant accounting policies



3.1 Statement of compliance



3.2 Basis of preparation



3.3 Basis of Consolidation

23

3.4 Business Combinations

24

3.5 Cash and cash equivalents



3.6 Employee benefits



3.7 Financial assets

25 26

3.8 Financial liabilities

27

3.9 Assets held for sale



3.10 Intangible assets



3.11 Inventories



3.12 Investment property



3.13 Property, plant and equipment

28

3.14 Leased assets

29

3.15 Impairment of non-current assets other than financial assets



3.16 Provisions

30

3.17 Revenue

31 32

3.18 Goods and services tax



3.19 Income tax



Note 4: Critical judgements and key sources of estimation uncertainty

33 34 35

Note 5: Revenue

36

Note 6: Surplus for the year

37

Note 7: Trade and other receivables

38

Note 8: Other financial assets



Note 9: Inventories

39

Note 10: Other current assets



Note 11: Non-current assets classified as held for sale

40

Note 12: Property, plant and equipment

41 42

Note 13: Investment property



Note 14: Intangible assets

43

Note 15: Trade and other payables



Note 16: Provisions

44

Note 17: Other current liabilities



Note 18: Retirement Benefit Plans



Note 19: Reserves

45

Note 20: Retained surplus



Note 21: Contingent liabilities



Note 22: Commitments for expenditure

46

Note 23: Leases

47

Note 24: Note to the cash flow statement

48

Note 25: Financial instruments

49 50

Note 26: Key management personnel remuneration and related party disclosures

51

Note 27: Subsidiaries

52

Note 28: Parent entity disclosures



Note 29: Remuneration of auditors

53

Note 30: Information required by the Charitable Fundraising Act 1991 (NSW)

54

Note 31: Restructuring Costs



Note 32: Subsequent events

55

Executives’ declaration

56

Directors’ declaration

57

Auditor’s Independence Declaration

58

Independent Auditor’s Report

59 60

Major Supporters



Individuals - $1,000 or more

61 62 63 64 65

Bequests - $1,000 or more

66 67

Business - $1,000 or more

68

Fundraising committees and auxiliaries

69

Government funding and support

70

Service clubs registered clubs and community groups - $1,000 or more

71

Trusts and foundations - $1,000 or more

72 73 74

Back Cover - Vision Australia Contact Details

75

Closing Announcement