CGE ANNUAL REPORT

2022/23 ANNUAL REPORT

Financial Statements for the year ended 31 March 2023

Accounting Policies

1.19 Standards and guidelines approved not yet effective The CGE has not applied the following standards and interpretations, which have been published and are mandatory for the entity’s accounting periods beginning on or after 01 April 2022 or later periods:

Standards/Interpretation

Effective Date 01 April 2025

Expected Impact

GRAP 104 (amended): Financial Instruments

It is expected that there will be a significant impact on the impairment of financialassets.

No effective date It is not expected to have any significant impact. No effective date It is expected that there will be a

GRAP 25: Employee Benefits

iGRAP 21: application of Materialityto Financial Statements

significant impacton the assessment of material transaction and balances. It is expected that there will be significant impact

GRAP 23: Revenue from non exchangetransaction.

01 April 2023

Management is of an opinion that the adoption of these Standards in future periods will have no material impact on the financial statement when they are adopted as these Standards have been issued to formulate and inform the current accounting policies and disclosures where applicable to the Commission for Gender Equality. Statutory receivables Identification Statutory receivables are receivables that arise from legislation, supporting regulations, or similar means, and require settlement by another entity in cash or another financial asset. 1.20 The cost method is the method used to account for statutory receivables that requires such receivables to be measured at their transaction amount, plus any accrued interest or other charges (where applicable) and, less any accumulated impairment losses and any amounts derecognised. The transaction amount for a statutory receivable means the amount specified in, or calculated, levied or charged in accordance with, legislation, supporting regulations, or similar means. 1.20.1 Recognition The entity recognises statutory receivables as follows: • if the transaction is an exchange transaction, using the policy on Revenue from exchange transactions; • if the transaction is a non-exchange transaction, using the policy on Revenue from non-exchange transactions (Taxes and transfers); or Carrying amount is the amount at which an asset is recognised in the statement of financial position.

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