Approve the financial report as prepared by Macquarie Accounting
proposal by Alex Leith Closed Tue 18 Oct 2022 1:01AM
Please approve the "Financials and Tax return" document attached to this poll
Results
| Results | Option | Votes | % of votes cast | % of eligible voters | |
|---|---|---|---|---|---|
| Approve | 8 | 100 | 100 |  | |
| Don't approve | 0 | 0 | 0 | ||
| Undecided | 0 | 0 |
8 of 8 votes cast (100% participation)
Alex LeithTue 11 Oct 2022 10:05PM
Good question. I'll ask.
Alex LeithThu 13 Oct 2022 12:51AM
Hey Ewen, this is really just boilerplate that the accountants use all the time. We can remove the text, but I feel like we don't need to. What it's really saying is that "if we did receive something for free, it would be recognised in the balance sheet". Are you ok with that?
Ewen Hill ·Tue 11 Oct 2022 9:55PM
HI @Alex Leith , Excellent and I approve. I just want to check my bolded wording. I am just a little confused about the nominal value. "OSGeo Oceania Limited receives non-reciprocal contributions of assets from the government and other parties for a nominal or zero value. These assets are recognised at their fair value on the date of acquisition in the balance sheet, with an equivalent amount of income recognised in the income statement."