Twenty-First Century Fox 2004 Annual Report Download - page 67

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Note 1 Basis of preparation of the Concise Financial Report
The Concise Financial Report has been prepared in accordance with the Corporations Act 2001, Accounting Standard AASB
1039 “Concise Financial Reports” and other mandatory professional reporting requirements. The financial statements and
specific disclosures have been derived from The News Corporation Limited’s Full Financial Report for the financial year.
Other information included in the Concise Financial Report is consistent with The News Corporation Limited’s Full
Financial Report. The Concise Financial Report does not, and cannot be expected to, provide as full an understanding of
the financial performance, financial position and financing and investing activities of the Group as the Full Financial
Report.
Dividends payable are recognised when their payment is determined and announced following a meeting of the Board of
Directors.
The Group discloses as Other revenues and Other expenses those transactions, the financial impact of which are included
within profit (loss) from ordinary activities, that are considered significant by reason of their size, nature or effect on the
Group’s financial performance for the year. Other revenues and Other expenses related to transactions of the Group’s
associated entities are included in Net profit (loss) from associated entities. The term Other Items includes both Other
revenues and Other expenses.
Where necessary, comparative amounts have been reclassified and repositioned for consistency with current year
disclosures.
The Concise Financial Report has been prepared on a basis consistent with the previous year, and in accordance with
historical cost conventions.
65
NEWS CORPORATION CONCISE REPORT 2004
Notes to and forming part of the Concise Financial Report
for the year ended 30 June, 2004