DHF Annual Report 2009 - NT Health Digital Library - Northern ...

c) Agency and Territory Itemsand equity over which the Department of Health and Families has control (Agency items). Certain items,while managed by the Agency, are controlled and recorded by the Territory rather than the Agency (Territoryitems). Territory items are recognised and recorded in the Central Holding Authority as discussed below.Central Holding AuthorityThe Central Holding Authority is the ‘parent body’ that represents the Government’s ownership interest inGovernment controlled entities.The Central Holding Authority also records all Territory items, such as income, expenses, assets andliabilities controlled by the Government and managed by Agencies on behalf of the Government. The mainTerritory item is Territory income, which includes taxation and royalty revenue, Commonwealth generalThe Central Holding Authority also holds certain Territory assets not assigned to Agencies as well as certainTerritory liabilities that are not practical or effective to assign to individual Agencies such as unfundedsuperannuation and long service leave.The Central Holding Authority recognises and records all Territory items, and as such, these items are notitems managed on behalf of Government, these items have been separately disclosed in note 24 - Scheduleof Territory Items.d) Comparativesconsistency with current year disclosures.e) Presentation and Rounding of Amountsand have been rounded to the nearest thousand dollars, with amounts of $500 or less being rounded downto zero.f) Changes in Accounting PoliciesThere have been no changes to accounting policies adopted in 2009-10 as a result of management decisions.g) Accounting Judgements and Estimatesrecognised amounts of assets, liabilities, revenues and expenses and the disclosure of contingent liabilities.The estimates and associated assumptions are based on historical experience and various other factorsthat are believed to be reasonable under the circumstances, the results of which form the basis of makingthe judgements about the carrying values of assets and liabilities that are not readily apparent from othersources. Actual results may differ from these estimates.The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accountingestimates are recognised in the period in which the estimate is revised if the revision affects only that period,or in the period of the revision and future periods if the revision affects both current and future periods.180Department Health and Families