by clicking the arrows at the side of the page, or by using the toolbar.
by clicking anywhere on the page.
by dragging the page around when zoomed in.
by clicking anywhere on the page when zoomed in.
web sites or send emails by clicking on hyperlinks.
Email this page to a friend
Search this issue
Index - jump to page or section
Archive - view past issues
CAA Annual Report : 2014 Annual Report
16 (d) PROPERTY, PLANT AND EQUIPMENT Each class of property, plant and equipment is carried at cost less any accumulated depreciation and impairment losses, where applicable. Plant and equipment Plant and equipment are carried at cost, less any accumulated depreciation or amortisation applicable. In the event that the carrying amount of plant and equipment is greater than its estimated recoverable amount, it is immediately written down to its estimated recoverable amount. The recoverable amount is assessed on the basis of the expected net cash flows which will be received from the assets employment and subsequent disposal. The expected net cash flows have been discounted to their present values in determining recoverable amounts. Subsequent costs are included in the asset's carrying amount or recognised as a separate asset, as appropriate, only when it is probable that future economic benefits associated with the item will flow to the company and the cost of the item can be measure reliably. All other repairs and maintenance are charged to the statement of comprehensive income during the financial period in which they are incurred. Depreciation Property, plant and equipment, other than freehold land, are depreciated at rates calculated to allocate the cost less the estimated residual value over the estimated useful life of each asset. The depreciation rates used for each class of depreciable assets are: Class of fixed asset Depreciation rate Plant & Equipment 6.66%-20% Computer Equipment 20%-33.33% Motor Vehicles 25% The assets carrying values are reviewed for impairment when events or changes in circumstances indicate the carrying value may not be recoverable. An asset's carrying account is written down immediately to its recoverable amount if the asset's carrying amount is greater than its estimated recoverable amount. Profit and loss on disposal are determined by comparing proceeds with the carrying amount. These amounts are included in the statement of comprehensive income. (e) IMPAIRMENT OF NON-FINANCIAL ASSETS At the end of each reporting period, the entity assesses whether there is any indication that an asset may be impaired. If such an indication exists, an impairment test is carried out on the asset by comparing the recoverable amount of the asset, being the higher of the asset's CHIROPRACTORS' ASSOCIATION OF AUSTRALIA (NATIONAL) LIMITED A.C.N. 050 096 038 NOTES TO AND FORMING PART OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDING 30 JUNE 2014 FINANCIAL ACCOUNTS AND REPORTS OF CHIROPRACTORS' ASSOCIATION OF AUSTRALIA (NATIONAL) LIMITED FOR THE YEAR ENDING 30 JUNE 2014
2013 Annual Report