Notes to the Financial Statements DESCRIPTION OF SIGNIFICANT UNOBSERVABLE INPUTS TO LEVEL 3 VALUATIONS Valuation Technique
Significant Unobservable inputs
Specialised land
Market Approach
Community Service Obligation Adjustment (CSO)
Specialised buildings
Depreciated replacement cost
Plant and equipment
Depreciated replacement cost
Infrastructure Roads
Depreciated replacement cost Depreciated replacement cost
Replacement cost per square metre Useful life of specialised buildings Cost per unit Useful life of plant and equipment Cost per unit Useful life of plant and equipment Cost per unit Useful life of plant and equipment
8. OTHER DISCLOSURES INTRODUCTION This section includes additional material disclosures required by accounting standards or otherwise, for the understanding of this financial report.
8.1 EX-GRATIA EXPENSES There were no ex-gratia expenses paid during the financial year ended 31 December 2017 (2016: $Nil).
8.2 OTHER ECONOMIC FLOWS INCLUDED IN NET RESULT Other economic flows are changes in the volume or value of an asset or liability that do not result from transactions. Other gains/(losses) from other economic flows include the gains or losses from: • the revaluation of the present value of the long service leave liability due to changes in the bond interest rates.
8.3 NON-FINANCIAL ASSETS HELD FOR SALE In addition to the assets and liabilities disclosed above as part of the disposal groups, the following non-Financial asset held for sale exists at the reporting date: ($ whole) 2017
Non-financial assets
2016
-
Plant and equipment (Belt Press) held for sale
18,000
-
Total non-financial assets held for sale
18,000
-
The non-financial asset held for sale is measured at fair value less cost to sell. This is held within the balance sheet in Infrastructure, property, plant and equipment until the sale is made. Any impairments incurred are included in the above net gain/(loss) on non-financial assets per AASB 5 Non-current assets held for sale and discontinued operations.
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• SECTION 4: FINANCIAL STATEMENTS