Non-current assets classified as held for sale

2014
$000
2013
$000
Freehold land
Opening balance 10,380 12,100
Revaluation 0 (1,720)
Closing balance 10,380 10,380

Information on fair value measurements is provided in Note 27.

The PTA holds land surplus to its operational requirements. Various properties have been identified as land for future sales. The PTA anticipates that all the freehold land in the closing balance will be disposed of in accordance with the Government’s asset disposal policy in the next reporting period. See also note 2(j) Non-current assets (or disposal groups) classified as held for sale.

Australian Accounting Standards

The PTA’s vision is to increase the use of public transport through the provision of customer-focussed, safe and cost-effective passenger transport services... Continue reading

Summary of significant accounting policies
Summary of significant accounting policies

The Public Transport Authority of Western Australia's (PTA) financial statements for the year ended 30 June 2014 have been prepared in accordance with Australian Accounting Standards...

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Financial Summary
Judgements made by management in applying accounting policies

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