46 Correction of error in applying AASB 117 Leases
Due to incorrect application of AASB 117 Leases on adoption of AIFRS, income from a prepaid operating lease was overstated (see note 5). The error has been corrected as shown below:
2007 |
2006 |
|
$000 |
$000 |
|
Income Statement for the year ended 30 June |
|
|
Increase/(decrease) in operating lease revenue |
(14,407) |
(13,981) |
(Increase)/decrease in finance costs |
7,046 |
5,856 |
Increase/(decrease) in surplus/(deficit) for the period |
(7,361) |
(8,125) |
|
|
|
Statement of Changes in Equity for the year ended 30 June |
|
|
Increase/(decrease) in accumulated surplus at start of period |
(26,857) |
(18,731) |
Increase/(decrease) in surplus/(deficit) for the period |
(7,361) |
(8,125) |
Increase/(decrease) in accumulated surplus for the period |
(34,218) |
(26,856) |
|
|
|
Balance Sheet as at 30 June |
|
|
Cumulative (increase)/decrease in deferred income operating lease |
(34,218) |
(26,856) |
Cumulative increase/(decrease) in accumulated surplus |
(34,218) |
(26,856) |