Berry Street Web Docs Financial Report 2011 | Page 24

BERRY STREET VICTORIA INC.
ABN 24 719 196 762

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2011
NOTE 13: PROVISIONS (Continued)
Provision for long term Employee Benefits
A provision has been recognised for employee benefits relating to long service leave. In calculating the
present value of future cash flows in respect of long service leave, the probability of long service leave being
taken is based upon historical data. The measurement and recognition criteria for employee benefits has
been included in Note 1.

NOTE 14: RESERVES
Asset Revaluation Surplus
The asset revaluation surplus records the revaluation of land and buildings to fair value.
Financial Assets Reserve
The financial assets reserve records the revaluation increments and decrements (that do not represent
impairment write-downs) that relate to financial assets that are classified as available-for-sale.
Unexpended Grants Reserve
The unexpended grants reserve records funds that have been received by the association but the related
expenditure has not yet occurred.

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