Page 261 - SAMRC Annual Report 2023-24

FINANCIAL INFORMATION

ANNUAL FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024
SIGNIFICANT ACCOUNTING POLICIES

(CONTINUED)

1.30 Living and non-living resources (continued)

Impairment
The entity assesses at each reporting date whether there is an indication that the living resource may be
impaired. If any such indication exists, the entity estimates the recoverable amount or the recoverable
service amount of the living resource.

Transfers
Transfers from living resources are made when the particular asset no longer meets the definition of a living
resource and/or is no longer within the scope of this accounting policy.

Transfers to living resources are made when the asset meets the definition of a living resource.

Derecognition
The carrying amount of a living resource is derecognised on disposal, or when no future economic benefits
or service potential are expected from its use or disposal.

The gain or loss arising from the derecognition of a living resource is included in surplus or deficit when
the item is derecognised.

1.31 Earmarked funds

The Earmarked funds are donations; bequests from deceased estates or cash received for a limited
period to be used for visiting eminent scientists; cancer research or tuberculosis research. The monies
received have been allocated to a separate account. The monies are ring-fenced from the cash balance
of the SAMRC.

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