ACCA Annual Report 2010 - 2011

Annual Report 2010 - 2011

Annual Report2010 - 2011

Suite North 1 / 215 Bell St, Preston VIC 3072

Australia

Telephone: +61 3 9863 6914Facsimile: +61 3 9863 6901

Email: [email protected] accaweb.com.au

ContentsAnnual Report 2010 - 2011

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Introduction President Bryan Elliott

ACCA Board 2010 - 2011

Board and Committee Activity

Finance 2010 - 2011

Membership 2010 - 2011

Membership Statistics 2006/07 - 2010/11

Confrences & Seminars

Independent Auditor’s Report

Director’s Declaration

Director’s Report 2010 - 2011

Information on Director’s

Financial Statements

australasian cemeteries and crematoria association

On behalf of the Australasian Cemeteries and Crematoria Association I have pleasure in presenting to you the Annual Report for 2010-2011.

The past year has seen the Australasian Cemeteries and Crematoria Association continue to operate successfully to meet the needs of the membership. The financial result for the 2009-2010 was disappointing and the new Board made a commitment to the membership to actively work to address that issue. Readers of this report will, I believe, be heartened by the financial result for this year.

The 2010 AGM in Fremantle saw President Brendan O’Connor step down from the role after completing only one year of his two year term due to work commitments. This was indeed a regrettable situation and all members of the association were appreciative of the time, dedication and passion that Brendan had displayed in the role and during his time on the Board. I was indeed honoured to be elected to complete the remaining time of Brendan’s Presidential term and also welcomed Armen Mikaelian to the Vice Presidency that I had vacated.

The elections in Fremantle also saw Past President Pieter Den Boer from Western Australia return to the Board as well as Malcolm Tucker from the Australian Capital Territory who had previously been on the Board. These two elections along with the re-election of Past President Darryl Thomas for a further two years ensured a very experienced team around the Board room table that also included Karen Hinrichsen from Queensland and Peter Deague from Western Australia. The breadth of knowledge and experience is matched by the diversity of operations and states of Australia represented on the Board. It is pleasing to report that the Board were quick to gel as a team and work towards ensuring member services and activities were delivered in a timely and cost effective manner.

The annual conference held at the Esplanade Hotel in Fremantle was a success with positive feedback received from those who attended. The Esplanade Hotel proved to be an ideal setting for the conference presenting attendees with many opportunities to network with their peers, learn from the many trade exhibitors as well as from the high quality of presentations from speakers during the conference itself. Many thanks to all who presented, exhibited, sponsored or attended Fremantle for making it such a memorable occasion. No sooner has one conference closed do we start planning in earnest for the next two conferences.

The 2011 conference in Wellington, New Zealand, is shaping up to be another outstanding opportunity to renew or make acquaintances and learn new things. I was privileged, along with fellow Board members Darryl and Karen, to visit the facilities in Wellington to assist the Board to make the final planning decisions for the conference. I am sure delegates will not be disappointed by the venue and program that has been organised.

Similarly the 2012 conference planning has already commenced with Adelaide being selected to be the venue for October 2012. I am sure that visitors to Adelaide will be suitably impressed with my home towns’ hospitality and facilities that will ensure 2012 is also a fantastic conference.

It is also pleasing to report that the midyear seminar for 2011 was also well attended and the theme of “change management” proved to be a pertinent topic with many taking away new thoughts and techniques back to their workplace. Our presenter challenged us to detail what change we were going to implement and I am sure it will be interesting for us all to receive our own letter reminding us of what we had intended to do. Did you achieve what you set out to implement?

The midyear seminar was also an opportunity to hold a special meeting to consider some constitutional changes that the Board had been considering for some time. In the ever changing climate, whether it is political, environmental, social, technological, economic, or legislative no association can stand still. We must continue to review our structure including our constitution to ensure that we can continue to be relevant to the needs of our members today and into the future. Some of the changes that were agreed to certainly recognise the changing times in which we currently operate.

I have been fortunate to represent the Australasian Cemeteries and Crematoria Association as your President for the past year at a number of functions including the ICCFA conference in Las Vegas, thanks to the generous support of my employer Centennial Park, and at the AFE 2011 conference in Hong Kong. There is no doubt that your association and the collective work that you as members do for your families and customers are extremely well regarded on the international stage. If we are to have a voice and influence state and national legislation our international reputation must be maintained and enhanced as there is no doubt that a highly respected organisation with international recognition has a stronger voice. There is also no doubt that networking with industry peers from around the world also enhances the knowledge and experiences that can be applied within our own association.

During the year life member Peter Maclean retired both from the Metropolitan Cemeteries Board on Perth but also as the Asian Vice President of the International Cremation Federation. With the support of the Geelong Cemeteries Trust, Darryl Thomas, was nominated and subsequently elected to replace Peter on the ICF. Congratulations to Darryl as I am sure that his participation on the executive of the ICF will continue to ensure the close working relationship between the ICF and ACCA.

It has been an honour and a privilege for me to serve the association and work with the Board members over the time of my involvement so far. I look forward to seeing the association continuing to be relevant to its members and delivering our promised outcomes. None of this work can be possible without the efforts and support of the Executive Officer, Ken Manders, and the exuberant efforts of Katrina Bachnik our Events and Member Services Co-ordinator. We have thanked and farewelled Ken following his resignation and we all congratulate Katrina on the upcoming birth of her first child in February 2012. Both of these events will result in changes to the ACCA office but I assure you the current Board and I am sure the new Board will continue to strive to serve the membership in the year ahead.

Bryan ElliottPRESIDENT

IntroductionPresident Bryan Elliott

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IntroductionPresident Bryan Elliott

ACCA Board2010 - 2011

Karen Hinrichsen

Armen Mikaelian

Bryan Elliott

Pieter Den Boer

Peter Deague

Malcolm Tucker

Darryl Thomas

Members of the ACCA Board at 30 June 2011

Members of the ACCA Board throughout the 2010/2011 year and at the date of this report

president vice president director director

director director director

Peter Deague 01/07/2010 - 30/06/2011Pieter Den Boer 13/10/2010 - 30/06/2011Michael McMahon 01/07/2010 - 13/10/2010

Armen Mikaelian 01/07/2010 - 30/06/2011Bryan Elliott 01/07/2010 - 30/06/2011Karen Hinrichsen 01/07/2010 - 30/06/2011

Brendan O’Connor 01/07/2010 - 13/10/2010Darryl Thomas 01/07/2010 - 30/06/2011Malcolm Tucker 13/10/2010 - 30/06/2011

16 August 2010, Melbourne13 October 2010, Fremantle15 November 2010, Melbourne7 February 2011, Melbourne9 May 2011, Melbourne

Board Member MeetingsDate and location of meetings

Helena Hu (Quinlan Bookkeeping Services), provided contracted book-keeping services to ACCA during the reporting period, with quarterly financial reviews undertaken by Pauline Laffan of PLC Accountants & Advisers.

Contracted Services

StaffKen J Manders Executive Officer Katrina Bachnik Events and Member Services Coordinator

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Board and Committee ActivitySingle Industry National Association (SINA) Project

“TO BE THE PEAK INDUSTRY BODY OF AUSTRALASIA, EMPOWERING AND LOBBYING FOR THE HIGHEST STANDARDS AND ETHICS IN CEMETERIES AND CREMATORIA.”

Following the most recent meeting in May, it was agreed to review possible alternate models at the next meeting in November.

Verbal reports received from all States, provided mostly positive acknowledgement on the dissemination of information to members, but further actions were proposed.

Summary Of Meetings & Actions

1. Promotion - Need to promote what benefits will be available under a national scheme - prepare a PR document for presentation at state meetings (PR document to include benefits/examples and potential issues/solutions).

2. Concept Model - an alternative model may also be prepared.

3. Defined Objectives - collection of membership data and sponsorship/supplier (national & state) data. The membership and sponsorship data will relate to category and subscription fee. There will be no names or any other information collected on individual entities. The data collected is to determine the income generated by each state for financial modeling purposes.

4. Collation - Upon submission of all data, a spread-sheet will be prepared for next meeting, which will determine the SCOPE OF FINANCIAL MODEL and assessment of consultant possibility?

5. Meeting - President and VP to attend and present SINA to CCANSW at its next meeting.

6. Target - It was agreed that it was not unrealistic to aim to bring on board at least Queensland, Western Australia and possibly South Australia on 1 July 2012, which will of course be subject to their member approval at state AGM and ACCA change of constitution. The latest date for these proposed transitions would be 1 July 2013.

Realistically the entire concept could be fully functional in 3 - 4 years.

National Training

Northern Sydney Institute – TAFE NSW (NSI) has, in conjunction with ACCA developed an easy to complete “Expression of Interest Form” to commence the registration process of Certificate 111 Training.

In order to evaluate each individual, this form is integral to the student’s recognition of prior learning through experience and previous training.

In simple terms both Certificates require the completion of Units of Competence as follows:

Grave digging, Grounds Maintenance (Certificate III), 19 UNITS OF COMPETENCE Required

Cemetery and Crematorium Operations (Certificate III)14 UNITS OF COMPETENCE Required

Recognised Prior Learning (RPL) – if an employee has completed ANY of the following:

Safe Graves Techniques,Work Effectively in the Funeral Industry,Exhumation Techniques,Any in-house training, orAny industry specific training…………They will count toward UNITS OF COMPETENCE

WHERE TO START?

Managers need to take responsibility and sit down with each employee to determine their training needs……………….NOW! …….

THE SUCCESS OF THE TRAINING CAN ONLY BE ASSURED WITH THE INPUT FROM MEMBER ENTITIES.

Corporate Partnerships

The annual Corporate Partnerships packages were developed for 2011 and the following Corporate Members accepted the invitation to join a partnership with ACCA as listed hereunder:

PLATINUM PARTNER Arrow BronzeGOLD PARTNER Phoenix FoundrySILVER PLUS PARTNER Austeng EngineeringSILVER EXTRA PARTNER Enabling

The income generated through sponsorship is integral to the financial performance of the Association – and sincere appreciation is extended to all of our package holders. Each year the packages are prepared in basic format, but thereafter, they are “custom-designed” for each Corporate Member.

We welcome any enquiry or suggestion to improve this facility for our Members.

ACCA Website

The ACCA website continues to develop into the most efficient communication resource for members and industry partners. ACCA will again load this Annual Report on to the site in E-Mag format, for the convenience of Members.

ACCA always encourages the input and suggestions of its members.

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Finance2010 - 2011

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The audited financial statements are included in this Annual Report and the result was an operating profit of $24,640 – a turnaround of $83,576.00 due in the main to the financial controls over expenditure. The non-budget income received from one payment of Secretariat fee for CCAV was mostly offset by wages and some establishment costs. A synopsis of the Financial Year is best shown in the table below:

ACTUAL BUDGET

Income Cost of Sales Gross Profit Income Cost of Sales Gross Profit

INCOME

Subscriptions 203,898 0 203,898 213,750 0 213,750

ACCA News 53,532 32,115 21,417 54,000 34,000 20,000

Conference* 482,398 408,525 73,873 351,000 285,500 65,500

Mid year Conference 43,941 33,454 10,487 49,000 40,000 9,000

Brochures and Books 2,601 0 2,601 1,000 1,000 0

Other Income 8,107 0 8,107 2,500 1,000 1,500

Bank Interest 8,275 0 8,275 8,000 0 8,000

802,752 474,094 328,658 679,250 361,500 317,750

EXPENSES

Finance & Administration 30,100 25,550

Administration - Office 31,988 23,950

Bank & Gov’t Charges 4,437 6,800

Board Expenses 28,460 24,000

Secretariat 3,551 3,500

Public Relations 10,961 7,500

China Expo Expenses 1,526 0

Other Expenses 4,599 7,000

Employment Expenses 163,020 168,980

Rental Expenses 22,739 23,150

TOTAL EXPENSES 301,381 290,430

Operating Profit 27,277 27,320

Other Expenses

Rewrite Guidelines 0 0

Working Party 2,637 3,000

NET RESULT 24,640 24,320

* Conference Actual Figures includes accommodation income and expenses

The statement of financial position continues to show a healthy position for the Association, with net assets of $216,303.


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Membership2010 - 2011

New Memberships

ORDINARY: 4

CORPORATE: 1

Resignations

ORDINARY: 6

CORPORATE: 7

ASSOCIATE FELLOW: 1

ASSOCIATE MEMBER 1

ACCA Ordinary Members

New South Wales 26

Victoria 12

Queensland 14

South Australia 8

Western Australia 7

Tasmania 4

Australian Capital Territory 2

Northern Territory 2

New Zealand 6

TOTAL 81

ACCA Corporate Members

New South Wales 13

Victoria 11

Queensland 2

South Australia 3

Western Australia 0

Australian Capital Territory 2

New Zealand 9

Malaysia 3

China 13

Japan 1

United States of America 2

United Kingdom 1

Mongolia 1

The Netherlands 1

TOTAL 62

Associate Fellow Members

New South Wales 2

Victoria 2

TOTAL 4

Associate Members

New South Wales 1

South Australia 2

TOTAL 3

Observer Members

Victoria 1

TOTAL 1

Membership Fees

Membership fees were increased by 3.1% for the 2010/2011 financial period in line with Consumer Price Index (All Groups) movement.


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Membership Statistics2006/07 - 2010/11

New South Wales

Victoria

Queensland

SouthAustralia

WesternAustralia

Tasmania

AustralianCapitalTerritory

NorthernTerritory

NewZealand

2010/11 2009/10 2008/09 2007/08 2006/07

5 10 15 20 25 30 35

New South Wales

Victoria

Quensland

SouthAustralia

WesternAustralia

AustralianCapitalTerritory

NewZealand

Malaysia

China

Others

2010/11 2009/10 2008/09 2007/08 2006/07

0 5 10 15 20

The following graphs show membership fluctuations during the previous 5 years.

ACCA Full Members ACCA Corporate Members


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Conferences & Seminars

Conference 2010

The Esplanade Hotel, Fremantle was the venue of the 2010 conference. The conference theme was ‘Our Changing Landscape.’ Our landscape is constantly changing in response to forces both natural and artificial. The actions of wind, water, and people all change the land surface. Some changes occur over centuries, whereas others occur within weeks. Changes may be global in extent or have only local effect. Regardless of the type of change or length of time over which the change occurs, our environment remains a fundamental source for sustenance and inspiration.

The program looked at many issues surrounding our ever evolving landscape whilst providing a forum for speakers and delegates to share their views on this important topic. Overwhelming positive feedback was received from delegates regarding the business sessions and social activities.

Conference 2011

The 2011 ACCA Conference in Wellington is fast approaching. This year there will be three conference themes. Monday’s theme Today, Tomorrow and Beyond will look at global trends in economics, politics, society and business and how these trends affect us locally and regionally. We will also touch on culture change including religious and ethnic backgrounds. Are Operations Operational? will be the main focus on Wednesday. Speakers will look at OH&S issues including preventative measures and management practices. Lastly, on Thursday the theme will be Science, Technology and the Future. Science and technology is big business and presentations will be based on new developments within the industry and worldwide.

The program includes high-calibre speakers such as James Morrison, Angry Anderson, Neville Norman, Tony Christiansen and Jacqui Cooper. The social program also promises to be memorable with the Presidents Reception being held at the Chaffers Dock and the Gala Ball themed to be a beautiful night in “Monet’s Garden.”

Mid Year Seminar 2011

In June 2011, ACCA’s Ninth Annual Mid Year Seminar was held in Melbourne, Victoria. This year the topic was Change Management. The workshop titled, “The Power of Change” aimed to help delegates understand change. What it is, how it works and how it can be the most powerful tool in the management “tool-kit”.

Wayne Goldsmith was the Workshop facilitator on Thursday and we received overwhelming positive feedback regarding his presentation. The tour of Melbourne General Cemetery and Fawkner Cemetery and Memorial Park was also very well received.

acca conferenceESPLANADE HOTEL FREMANTLE WA

23rd annual

2010


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To the members of the Australasian Cemeteries and Crematoria Association ltd

Report on the Financial Report

We have audited the accompanying financial report of Australasian Cemeteries and Crematoria Association Ltd (the company), which comprises the statement of financial position as at 30 June 2011, the statement of comprehensive income, statement of changes in equity and statement of cash flows for the year then ended, notes comprising a summary of significant accounting policies and other explanatory information, and the directors’ declaration.

Directors’ Responsibility for the Financial Report

The directors of the company are responsible for the preparation of the financial report that gives a true and fair view in accordance with Australian Accounting Standards (including the Australian Accounting Interpretations) and the Corporations Act 2001 and for such internal control as the directors determine is necessary to enable the preparation of the financial report that is free from material misstatement, whether due to fraud or error.

Auditor’s Responsibility

Our responsibility is to express an opinion on the financial report based on our audit. We conducted our audit in accordance with Australian Auditing Standards. Those standards require that we comply with relevant ethical requirements relating to audit engagements and plan and perform the audit to obtain reasonable assurance whether the financial report is free from material misstatement.

An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in the financial report. The procedures selected depend on the auditor’s judgment, including the assessment of the risks of material misstatement of the financial report, whether due to fraud or error. In making those risk assessments, the auditor considers internal control relevant to the entity’s preparation of the financial report that gives a true and fair view in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the entity’s

internal control. An audit also includes evaluating the appropriateness of accounting policies used and the reasonableness of accounting estimates made by the directors, as well as evaluating the overall presentation of the financial report.

We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinion.

Independence

In conducting our audit, we have complied with the independence requirements of the Corporations Act 2001. We confirm that the independence declaration required by the Corporations Act 2001, which has been given to the directors of the Australasian Cemeteries and Crematoria Association Ltd, would be in the same terms if given to the directors as at the time of this auditor’s report.

Opinion

In our opinion, the financial report of Australasian Cemeteries and Crematoria Association Ltd is in accordance with the Corporations Act 2001, including:

(i) giving a true and fair view of the company’s financial position as at 30 June 2011 and of its performance for the year ended on that date; and

(ii) complying with Australian Accounting Standards and the Corporations Regulations 2001.

Michelle T Westhorpe

Selby Westhorpe & Partners Pty Ltd1/1012 Doncaster Road DONCASTER EAST VIC 3109

1st day of September 2011

Auditor’s Independence Declaration Under S 307C Of The Corporations Act 2001To The Directors Of Australasian Cemeteries And Crematoria Association Ltd

I declare that, to the best of my knowledge and belief, during the year ended 30 June 2011 there have been

i. no contraventions of the auditor independence requirements as set out in the Corporations Act 2001 in relation to the audit; and

ii. no contraventions of any applicable code of professional conduct in relation to the audit.

Michelle T Westhorpe

Selby Westhorpe & Partners Pty Ltd31 August 2011

1/1012 Doncaster Road DONCASTER EAST VIC 3109

Independent Auditor’s Report


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Directors’ DeclarationThe directors of the entity declare that:

1. The financial statements and notes, as set out on pages 3 to 12, are in accordance with the Corporations Act 2001:

a. comply with Australia Accounting Standards; andb. give a true and fair view of the financial position as at 30 June 2011 and of the performance for the year ended on that date of the entity.

2. In the directors’ opinion there are reasonable grounds to believe that the entity will be able to pay its debts as and when they become due and payable.

This declaration is made in accordance with a resolution of the Board of Directors.

Bryan Elliott Darryl Thomas Director Director

Dated this 31st day of August 2011


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Director’s Report2010 - 2011

Your directors present this report on the company for the financial year ended 30 June 2011.

Directors

The names of each person who has been a director during the year and to the date of this report are:

P. Deague

P. Den Boer 13/10/2010 - 30/06/2011

B. Elliott

K. Hinrichsen

M. McMahon 01/07/2010 - 13/10/2010

A. Mikaelian

B. O’Connor 01/07/2010 - 13/10/2010

D. Thomas

M. Tucker 13/10/2010 - 30/06/2011

Directors have been in office since the start of the financial year to the date of this report unless otherwise stated.

Company Secretary

The following person held the position of Association secretary at the end of the financial year:

K. Manders - Executive Officer has worked for the Association for the past three years performing management and secretary roles.

K. Manders was appointed Executive Officer on 17 April 2008.

K. Manders resigned on 10 August 2011.

PRINCIPAL ACTIVITIES AND OBJECTIVES

The principal activities and objectives of the Association during the financial year were:

To promote the cemetery and crematorium industry in Australasia.

Operating Result

The profit of the entity amounted to $24,640.

Review Of Operations

A review of operations of the Association during the financial year indicated a decrease in income of 9.2% from previous year, but a decrease of expenses of 17.7% resulting in the profit result achieved.

Significant Changes In State Of Affairs

No significant changes in the Association’s state of affairs occurred during the financial year.

After Balance Date Events

No matters or circumstances have arisen since the end of the financial year which significantly affected or may significantly affect the operations of the Association.

Future Developments

The Association expects to maintain the present status and level of operations and hence there are no likely developments in the operations in future financial years.

Environmental Issues

The Association’s operations are not regulated by any significant environmental regulation under a law of the Commonwealth or of a state or territory.

Members Equity

In accordance with the relevant provisions of the Corporations Act, the company does not have share capital. The Constitution of the Company limits liability by way of guarantee. Under the terms of that guarantee every member of the Company undertakes to contribute to the property of the Company in the event of the Company being wound up. The extent of that contribution is limited to $100 per member.

At 30 June 2011 there were 85 full members of the Company to which the above provisions would apply. The total amount the members of the company are liable to contribute if the company is wound up is $8,500.


Information On DirectorsQualifications, Responsibilities and Meeting Attendance

Name Qualifications, ExperienceSpecial

ResponsibilitiesMeetings Held During Term

Meetings Attended

Peter DeagueChief Executive Officer - Cemeteries Board MA, MLGMA

Director 5 5

Pieter Den Boer General Manager - Bunbury Cemetery Board

Director 4 4

Bryan ElliottChief Executive Officer - Centennial Park Authority MBA, BA (Acc) FCPA, FAIM, CPMgr, AAICD

Vice President to October 2010, Chair of Finance to October 2010, President, Finance Director

5 5

Karen Hinrichsen Manager - Toowoomba Garden of Remembrance

Director 5 5

Michael McMahonChief Executive Officer - Catholic Cemeteries Board B’Bus, CAPC, FAICD, GAICD, JP(NSW)

Director 1 1

Armen Mikaelian National General Manager - Cemeteries, Invocare BEc

Vice President 5 5

Brendan O’Connor Operations Manager - Greater Metropolitan Cemeteries Trust

President 1 1

Darryl ThomasChief Executive Officer - Geelong Cemeteries Trust ADipBusMgt

Director, Chair Finance 5 5

Malcolm Tucker Chief Executive Officer - Norwood Park Ltd

Director 4 4

INDEMNIFYING OFFICERS OR AUDITORS

No indemnities have been given or insurance premiums paid, during or since the end of the financial year for any person who is or has been an officer or auditor of the Association other than a premium paid for Director’s and Officer’s Liability Insurance.

PROCEEDINGS ON BEHALF OF THE ASSOCIATION

No person has applied for leave of court to bring proceedings on behalf of the Association or intervene in any proceedings to which the Association is a party for the purpose of taking responsibility on behalf of the Association for all or any part of those proceedings.

The Association was not a party to any such proceedings during the year.

AUDITOR’S INDEPENDENCE DECLARATION

The auditor’s independence declaration for the year ended 30 June 2011 has been received and can be found on page 2 of the directors report.

Signed in accordance with a resolution of the Board of Directors

Director

Dated this 31st day of August 2011

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Statement of Comprehensive IncomeFOR THE YEAR ENDED 30 JUNE 2011

Note2011

$2010

$

RevenueACCA News Advertising 53,532 48,564

Brochures 2,601 641

Conference 1 (f) 482,398 579,945

Seminar 43,941 37,714

Interest 8,275 8,214

Membership Fees 203,898 206,522

Miscellaneous 2,857 2,605

Secretariat Fee for CCAV 5,250 0

Total Revenue 1 (f) 802,752 884,205

Expenditure

ACCA News/Bulletin 32,115 31,800

Audit and Accounting Fees 30,100 27,159

Bad Debts 1,334 (541)

Bank Charges 4,437 7,006

Board Expense 28,460 21,426

Brochures 4,287 1,491

Conference Expenditure 1 (f) 408,525 556,386

Depreciation 1 (d) 7,117 6,248

Internet/E-Mail 2,503 2,414

Employment Expenses 163,020 161,148

Secretariat 3,551 3,742

Seminar 33,454 40,004

Subscription 1,531 1,619

Insurance 2,385 2,385

Miscellaneous 0 83

Phone/Fax 7,507 7,081

Office Expenses 1,840 1,487

Rental Expenses 22,739 21,814

Postage 4,426 3,738

Projects 2,673 4,960

Public Relations 10,961 16,286

Promotional - China Conference/Expo 1,526 22,020

Printing & Stationery 2,974 2,440

Website 683 945

Total Expenditure 1 (f) 778,112 943,141

Net Result for the Year 24,640 (58,936)

Total Comprehensive Income 24,640 (58,936)

THE ACCOMPANYING NOTES FORM PART OF THIS FINANCIAL REPORT.


Statement of Financial PositionAS AT 30 JUNE 2011

Note2011

$2010

$

ASSETS

Current Assets

Cash and Cash Equivalents 2 205,088 176,778

Trade and Other Receivables 3 76,337 50,209

Other 4 99,871 117,286

Total Current Assets 381,296 344,273

Non-Current Assets

Plant and Equipment 5 3,391 8,573

Other 4,120 2,985

Total Non-Current Assets 7,511 11,558

Total Assets 388,807 355,831

LIABILITIES

Current Liabilities

Trade and Other Payables 6 172,504 164,168

Total Current Liabilities 172,504 164,168

Total Liabilities 172,504 164,168

Net Assets 216,303 191,663

Equity

Retained Earnings 7 216,303 191,663

Total Equity 216,303 191,663

13



14

Statement of Changes in EquityFOR THE YEAR ENDED 30 JUNE 2011

2011 $

2010 $

Total Equity at the Beginning of the Financial Year 191,663 250,599


Total Equity at the End of the Year 216,303 191,663

Cash Flow Statement FOR THE YEAR ENDED 30 JUNE 2011

Note2011

$2010

$

Cash Flows from Operating Activities

Receipts from Subscriptions and Other Activities 938,574 947,568

Payments to Suppliers and Employees (903,070) (1,050,314)

Interest Received 8,275 8,214

GST Refunded from the Australian Taxation Office 60,477 64,908

GST Paid to the Australian Taxation Office (73,818) (91,419)

Net Cash Provided (Used) by Operating Activities 8b 30,438 (121,043)

Cash Flows from Investing Activities

Payments for Plant & Equipment (2,128) (3,134)

Receipts from disposal of Plant & Equipment - -

Net Cash Provided (Used) by Investing Activities (2,128) (3,134)

Net Increase (Decrease) in Cash Held 28,310 (124,177)

Cash and Cash Equivalents at the Beginning of the Financial Year 176,778 300,955

Cash and Cash Equivalents at the End of the Financial Year 8a 205,088 300,955



Notes to the Financial Statements FOR THE YEAR ENDED 30 JUNE 2011

This financial report is for the Australasian Cemeteries and Crematoria Association Ltd as an individual entity, incorporated and domiciled in Australia. Australasian Cemeteries and Crematoria Association Ltd is a company limited by guarantee.

NOTE 1: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

Basis of Preparation

This financial report is a general purpose financial report that has been prepared in accordance with Australian Accounting Standards, (including Australian Accounting Interpretations) and the Corporations Act 2001.

Australian Accounting Standards set out accounting policies that the AASB has concluded would result in financial statements containing relevant and reliable information about transactions, events and conditions. Material accounting policies adopted in the preparation of these financial statements are presented below and have been consistently applied unless otherwise stated.

The financial report has been prepared on an accruals basis and is based on historical costs, modified, where applicable, by the measurement at fair value of selected non-current assets, financial assets and financial liabilities.

The financial statements were authorised for issue on the 31st August 2011 by the directors of the company.

a. Income Tax

No provision for income tax has been raised as the entity is exempt from income tax under Div 50 of the Income Tax Assessment Act 1997.

b. Plant and Equipment

Plant and equipment are measured on the cost basis and therefore carried at cost less accumulated depreciation and any accumulated impairment. In the event the carrying amount of plant and equipment is greater than the estimated recoverable amount, the carrying amount is written down immediately to the estimated recoverable amount.

c. Depreciation

The depreciable amount of all fixed assets is depreciated on a straight-line basis over the asset’s useful life to the entity commencing from the time the asset is available for use.

The depreciation rate used for each class of depreciable asset is:Office equipment and furniture 20 - 50%

The assets residual values and useful lives are reviewed and adjusted, if appropriate, at the end of each reporting period.

Gains and losses on disposals are determined by comparing proceeds with the carrying amount. These gains or losses are included in the statement of comprehensive income.

d. Employee Benefits

Provision is made for the company’s liability for employee benefits arising from services rendered by employees to the end of the reporting period.

Employee benefits have been measured at the amounts expected to be paid when the liability is settled.

e. Cash and Cash Equivalents

Cash and cash equivalents include cash on hand, at banks and deposits.

f. Revenue

Conference Income is only recognised in the year in which the service is provided. Fees received in advance are recorded as pre-paid conference income. Income from membership fees is recognised at the time of raising a debtor invoice.

All revenue is stated net of the amount of goods and services tax (GST).

g. Goods and Services Tax (GST)

Revenues, expenses and assets are recognised net of the amount of GST, except where the amount of GST incurred is not recoverable from the Australian Taxation Office. In these circumstances the GST is recognised as part of the cost of acquisition of the asset or as part of an item of the expense. Receivables and payables in the Balance Sheet are shown inclusive of GST.

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2011 $

2010 $

NOTE 2: Cash and Cash Equivalents

Cash at Bank 35,951 45,598

Petty Cash - -

Cash Management Fund / Term Deposits 500 131,180

Total Cash & Cash Equivalents as stated in the Statement of Financial Position

205,088 176,778

Total Cash & Cash Equivalents as stated in the Cash Flow Statement

205,088 176,778

NOTE 3: Receivables

Receivables 76,337 50,209

Trade & Other Receivables 76,337 50,209

NOTE 4: Other

Prepaid Conference Expenditure 95,935 107,125

Other 3,936 10,161

99,871 117,286

NOTE 5: Plant and Equipment

Office Equipment - at Cost 23,098 21,153

Less Accumulated Depreciation (19,707) (12,580)

3,391 8,573

Movements in carrying amount

Balance at the beginning of year 8,573 11,972

Additions 1,935 2,849

Disposals (Net Value) - -

Depreciation Expense (7,117) (6,248)

Carrying Amount at the End of Year 3,391 8,573



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2011 $

2010 $

NOTE 6: Payables Current

Sundry Creditors and Accruals 43,048 54,679

Prepaid Conference Income 117,399 95,905

Employee Benefits 12,057 13,584

172,504 164,168

NOTE 7: Retained Profits

Retained Profits at the Beginning of the Financial Year 191,663 250,599

Net Profit / (Loss) Attributable to the Association 24,640 (58,936)

Retained Profits at the End of the Financial Year 216,303 191,663

NOTE 8: Cash Flow Information

a. Reconciliation of Cash and Cash Equivalents

Cash at Bank 35,951 45,598

Cash on Deposit 168,637 131,180

Petty Cash 500 -

205,088 176,778

b. Reconciliation of Net Cash provided (used) by Operating Activities to Net Profit/(Loss) from Ordinary Activities


Non-Cash Flows in Net Profit/(Loss) from Ordinary Activities:

Depreciation 7,117 6,248

Changes in Assets and Liabilities:

(Increase) Decrease in Receivables (26,128) (6,372)

Increase (Decrease) in Creditors and Accruals 8,336 (81,727)

(Increase) Decrease in other Assets 16,473 19,744

Net Cash Provided (Used) by Operating Activities 30,438 (121,043)

c. The Association has no credit stand-by or financing facilities in place.

d. There were no non-cash financing or investing activities during the period.



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NOTE 9: Financial Risk Management

a. Financial Risk Management Policies

The company’s financial instruments consist mainly of deposits with banks, accounts receivable and payable.

The company does not have any derivative instruments at 30 June 2011.

i. Treasury Risk Management This is not relevant to the company.

ii. Financial Risk Exposures and Management The main risks the company is exposed to through its financial instruments are interest rate, liquidity and credit risk.

Interest Rate Risk

The company’s exposure to interest risk is not material as it does not have any interest bearing borrowings as at 30 June 2011. The only exposure to interest rate risk is the fall in interest rate which would reduce the interest income received from the deposits in the bank.

Foreign Currency Risk

Foreign Currency Risk arises when financial instruments are recognised in a currency that is not the company’s functional currency. The company’s exposure arises from its dealings with its overseas members and is minimal.

Credit Risk

The maximum exposure to credit risk, excluding the value of any collateral or other security, at balance date to recognised financial assets is the carrying amount, net of any provisions for impairment of those assets, as disclosed in the Statement of Financial Position and notes to the financial statements.

There are no material amounts of collateral held as security at 30 June 2011.

Credit risk is managed and reviewed regularly by the finance committee. It arises from exposures to customers and deposits with financial institutions.

The finance committee monitors credit risk by actively assessing the rating quality and liquidity of counter parties:

- only banks and financial institutions with an “A” rating are utilised:

- all potential members are rated for credit worthiness taking into account their particular circumstances and financial standing; and

- customers who do not meet the Association’s strict credit policies may only purchase in cash or with recognised credit cards.

At the end of the financial year the company does not have any material credit risk exposure.

Liquidity Risk

Liquidity risk is managed by monitoring the company’s cash flow position regularly and ensuring there are sufficient funds to meet all obligations.

Foreign exchange rate risk

In order to minimise the company’s risk due to fluctuations in foreign currency the company has entered into a forward exchange contract - AUD $140,603.03 NZD. Due date 7/10/2011.

Financial Risk Management Policy

The Company’s overall risk management strategy is to assist the company in meeting its financial targets whilst minimising potential adverse effects on financial performance. Risks are also minimized pertaining to the 24th Annual ACCA Conference in Wellington New Zealand due to the appropriate insurances being in place as implemented by the Board of Directors.



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b. Financial Instrument Composition and Maturity Analysis

The table below summarises the undiscounted contractual settlement terms for the financial instruments of a fixed period of maturity.

Weighted Average

Floating Interest

Fixed Interest Rate Maturing

Non Interest Bearing

Effective Interest Rate

Rate Within 1 Year 1 to 5 Years

2011 2010 2011 2010 2011 2010 2011 2010 2011 2010

Financial Assets % % $ $ $ $ $ $ $ $

Cash and Cash Equivalents 4.15 3.54 205,088 176,778 - - - - - -

Receivables - - - - - - - - 76,337 50,209

Total Financial Assets - - 205,088 176,778 - - - - 76,337 50,209

Financial Liabilities - - - - - - - - - -

Payables and Tax Liabilities - - - - - - - - 172,504 164,168

c. Net Fair Values

Methods and assumptions used in determining net fair value.

The net fair values of listed investments have been valued at the quoted market bid price at balance date adjusted for transaction costs expected to be incurred. For other assets and other liabilities the net fair value approximates their carrying value. No financial assets and financial liabilities are readily traded on organised markets in standardised form other than listed investments. Financial assets where the carrying amount exceeds net fair values have not been written down as the economic entity intends to hold these assets to maturity.

The aggregate net fair values are materially in line with the carrying values and the financial assets and financial liabilities amounts are disclosed in the Balance Sheet and in the notes to the financial statements.

Sensitivity Analysis

Interest rate risk

The Association does not consider a sensitivity analysis would be relevant and has therefore not performed any analysis in this area.



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2011 $

2010 $

NOTE 11: Remuneration of Auditors

Auditing the Accounts 2,950 2,727

Other Services provided by the Audit Firm - -

NOTE 12: Related Parties

a. Key Management Personnel

Any person having authority and responsibility for planning, directing and controlling the activities of the company, directly or indirectly, including any director (whether executive or otherwise) is considered key management personnel.

2011 $

2010 $

Key Management Personnel Compensation 100,736 95,680

During the year, no director received any benefit from the company either directly or indirectly.

NOTE 13: Contingent Liabilities And Contingent Assets

There were no contingent liabilities or contingent assets at balance date. (2010 - Nil).

NOTE 14: Subsequent Events

No events have occurred subsequent to the reporting period that require disclosure in the financial report.

NOTE 15: Commitments

Forward Exchange Contract - AUD $140,603.03 in NZD. Due date 07/10/2011. (2010 - Nil).

NOTE 16: Entity Details

The registered office of the entity is:

Australasian Cemeteries and Crematoria Association Ltd Suite North 1, 215 Bell Street PRESTON VIC 3072

The principal place of business is:

Australasian Cemeteries and Crematoria Association Ltd Suite North 1, 215 Bell Street PRESTON VIC 3072

NOTE 17: Members Guarantee

The entity is incorporated under the Corporations Act 2001 and is an entity limited by guarantee. If the entity is wound up, the constitution states that each member is required a maximum of $100 each towards meeting any outstandings and obligations of the entity. At 30 June 2011 the number of members was 85.


The Year Ahead2011/2012

2011-2012

To maintain direction and objectives

of the ACCA Strategic Plan To continue

providing high quality services and professional support to membership

To hold a successful conference in Wellington NZ in 2011 and to plan the 2012 Adelaide conference

To hold an educational

Mid-Year Seminar, or smaller regional events

during the year, subject to review

To consolidate and strengthen ACCA’s financial position

To provide effective member communication

through ACCA News, Communiqués and the

improved website

To continue to review the

Single Industry National Association

(SINA) proposal

To ensure that Government liaison

opportunities remain open and active

To refine ACCA’s accreditation processes

To continue to further develop and provide training opportunities

for Members

To continue with good governance for ACCA Directors, staff

and contractors

To continue with research into

key projects

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ACCA Annual Report 2010 - 2011

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