Part 3: Expenses and Net Capital Investment
This part reports on Departmental Expenses and Net Capital Investment, by agency. The data are presented on the same basis as data in Statement 6 of Budget Paper No. 1. Both sets of data are presented on the basis of external accounting and financial reporting standards. These standards present information in terms of accrued expenses and accrued revenue.
The main external standards used are:
- the Australian Bureau of Statistics' (ABS) accrual Government Finance Statistics (GFS) publication, Australian System of Government Finance Statistics: Concepts, Sources and Methods, (cat no. 5514.0), which in turn is based on the International Monetary Fund (IMF) accrual GFS framework; and
- Australian Accounting Standards (AAS), being AASB 1049 Whole of Government and General Government Sector Financial Reporting (AASB 1049) and other applicable Australian Equivalents to International Financial Reporting Standards (AEIFRS).
The reports differ from the reports in Part 1, where data is presented on estimates of available cash appropriations. On an accrual basis, revenue from previous years can be carried over for agency expenses in a future year. Additionally, some accrued expenses are not appropriated for, such as asset writedowns, foreign exchanges losses, fair value losses and depreciation.
The tables in this Part are affected by Machinery of Government changes. For example, where an agency was abolished it will have estimated expenses in 2013‑14 reflecting expenditure in part of that year, and not subsequently. Where an agency has been created as a result of the changes estimates are displayed in both 2013‑14 and 2014‑15, and projected out‑years.