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clock Created with Sketch. 06/03/20
20:50
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Originally posted by mikalee:
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add to that $8m of staff entitlements plus any redundancy costs which aren't of course on the balance sheet. I don't think they can afford to shrink to greatness - I really can't see a solution here that is within the Boards control.
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Take a read of the new AASB16 accounting standards, this explains the movement in liabilities, it is outlined in the notes of the financials, note 3 or 4 from memory. It should be clear that this liability always existed (as an off balance sheet, operating expense), it is now classified as a right of use asset with a corresponding liability with a "financing rate" equal to the payments.
