Financial Report
Introduction of International Financial Reporting Standards
Wesley Mission has always followed generally accepted accounting standards as adopted by commercial organisations in Australia.
The introduction this year of Australian International Financial Reporting Standards has resulted in significant changes to the way results are reported. Additional expenditure totalling $5,070,000 for the financial year ending June 2006 can be seen under additional financial information.
In addition, $2,431,000 in revenue, which normally would have been shown on the Income Statement has been shown as an adjustment to Accumulated Funds on our Balance Sheet.
- Revenue breakdown
- Expense breakdown
- Total expenses
- Statement of financial position
- Asset breakdown
- Net assets
- Liabilities breakdown
- Net results by activity
Expense breakdown
Statement of financial position
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