Document ID: chunk:federal_register_of_legislation:F2024L00434:body:0:p51
Version: federal_register_of_legislation:F2024L00434
Segment Type: other
Provision Reference: 
Character Range: 187870–191911

and salaries                                   Refers to gross earnings of employees before taxation and other deductions.

                                                     Report wages and salaries as recorded in the ADI's and RFC's financial or management accounts, including provisions for employee entitlements (i.e. on an accruals basis).

                                                     It includes:

                                                          * severances, terminations and redundancies;
                                                          * salaries and fees of directors and executives;
                                                          * retainers and commissions of persons who received a retainer;
                                                          * bonuses; and
                                                          * annual and other types of leave.

                                                     It excludes:

                                                          * capitalised wages and salaries;
                                                          * salary sacrifice for superannuation;
                                                          * payments to other businesses/organisations for staff (e.g. employment agencies);
                                                          * payments to self-employed persons such as consultants and persons paid solely by commission without a retainer;
                                                          * payments to contractors for services;
                                                          * fringe benefit tax and payroll tax; and
                                                          * reimbursement of expenses (e.g. travel, entertainment, meals and other expenses).

Weighted average                                     Means the weighted sum of individual items, where the weights used are the corresponding balances expressed as a share of the total balance.

                                                     For a weighted average interest rate, the items summed are the interest rates.

                                                     For a weighted average term, the items summed are the original or residual terms.

Well-secured                                         A well-secured exposure has the meaning given in Prudential Standard APS 220 Credit Risk Management

Wholesale finance                                    Means finance for the purchase of goods that will then be on-sold.

                                                     It excludes: finance to assist with the everyday operations of the business.  Report this as working capital.

'Work in progress' information technology equipment  Refers to information technology equipment classified as property, plant and equipment (including software applications that are an integral part of the hardware) that is under development and not ready for use in the production process as at the reporting date.

Workers' compensation premiums/costs                 Refers to a compulsory insurance cover to be taken out by all employers, except for self-insured workers, according to legislative schemes to cover employees suffering injury or disease in the course of or arising out of employment.

Working capital                                      Means a loan used to finance everyday operations of the business, such as accounts payable and wages.

                                                     It excludes: finance to purchase goods that will then be on-sold. Report this as wholesale finance.

Write-backs                                          Refers to the value of reversals of impairment losses on financial assets (not measured at fair value through profit or loss) through non-cash adjustments, as determined in accordance with Australian Accounting Standards.

[1] The thematic groups listed below are not intended to limit the application of the definitions that fall under them.