the rewards of being different ANZ financial report 2006

the rewards of being different. ANZ Financial Report 2006 [...]... impairment The gain or loss on the disposal of premises and equipment is determined as the difference between the carrying amount of the assets at the time of disposal and the proceeds of disposal, and is included in the results in the year of disposal Assets other than freehold land are depreciated at rates based upon their expected useful lives to the Group, using the straight-line method The depreciation... amounts equal to the present value of the minimum lease payments, plus the present value of any unguaranteed residual value expected to accrue at the end of the lease term Finance lease payments are allocated between interest revenue and reduction in the lease receivable over the term of the finance lease, reflecting a constant periodic rate of return on the net 10 ANZ Full Financial Report 2006 investment... value in excess of the then current carrying value for the CGU and hence the carrying value of the goodwill was not considered impaired At 30 September 2006, impairment testing via a management review was conducted to determine whether there were any indicators of impairment in the carrying value of ANZ National Bank Ltd’s goodwill The assessment involved review of the following indicators of impairment:... when there is a present obligation, the future sacrifice of economic benefits is probable, and the amount of the provision can be measured reliably The amount recognised is the best estimate of the consideration required to settle the present obligation at reporting date, taking into account the risks and uncertainties surrounding the obligation at reporting date Where a provision is measured using the. .. receivable by the Company and each member of the group in relation to the tax contribution amounts paid or payable between the Company and the other members of the tax-consolidated group in accordance with the arrangement Members of the tax-consolidated group have also entered into a tax sharing agreement that provides for the allocation of income tax liabilities between the entities should the head entity... majority of residual rights and rewards The amount disclosed here is the total assets of SPEs managed or arranged by ANZ It includes SPEs that purchase assets from sellers other than ANZ Structured finance entities1 These entities are set up to assist with the structuring of client financing ANZ may manage these vehicles and also provide derivatives Credit protection These entities are set up to allow the. .. recognised directly against the net defined benefit position Share-based compensation The Group has various equity settled share-based compensation plans These are described in Note 47 of the 2006 annual financial report and largely comprise the Employee Share Acquisition Plan and the ANZ Share Option Plan ANZ ordinary shares: The fair value of ANZ ordinary shares granted under the Employee Share Acquisition... is disclosed under the classifications of due to other financial institutions or payables and other liabilities The difference between the sale price and the repurchase price is accrued over the life of the repurchase agreement and charged to interest expense in the income statement Securities purchased under agreements to resell, where the Group does not acquire the risks and rewards of ownership, are... liability for acceptances, and the asset is disclosed as Customer’s liability for acceptances The Group’s own acceptances discounted are held as part of the trading securities portfolio xiv) Goodwill and other intangible assets Goodwill Goodwill, representing the excess of the purchase consideration over the fair value of the identifiable net assets of a controlled entity at the date of gaining control, is... the credit risk on portfolios ANZ may manage these vehicles Managed funds These funds invest in specified investments on behalf of clients INGA, INGNZ and certain subsidiaries of ANZ National Bank Limited, as managers of the funds, expose ANZ to operational and reputational risk 1 ANZ s net investment in the structured finance entities is $233 million (30 September 2005: $1,243 million) 14 ANZ Full Financial . one-half of the voting rights of the other entity; power to govern the fi nancial and operating policies of the other entity; power to appoint or remove the majority of the members of the board of. (cents) Basic Diluted 8 8 200.0 194.0 169.5 164.4 n/a n/a n/a n/a The notes appearing on pages 6 to 108 form an integral part of these fi nancial statements. 1 The results of 2006 include the impact of these signifi cant items: ■ Settlement of ANZ National. impairment. The gain or loss on the disposal of premises and equipment is determined as the difference between the carrying amount of the assets at the time of disposal and the proceeds of disposal,