Page 65 - 2012_Annual Report

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Saskatchewan Indian Gaming Authority Inc.
Notes to the Financial Statements
year ended March 31, 2012
63
24. TRANSITION TO IFRS (CONTINUED)
EFFECT OF TRANSITION
There is no material difference between the statement of financial position presented under IFRS and the statement of financial
presented under previous CGAAP.
The following table sets out a reconciliation of total comprehensive income for the year before distribution to SLGA for the year
ended March 31, 2011 under previous CGAAP to total comprehensive income for the year before distribution to SLGA under IFRS
for the same period:
March 31, 2011
Previous
Effect of
Canadian
Transition
Note
GAAP
to IFRS
Reclasses
IFRS
Revenue
a
259,821,502
(8,583,302)
251,238,200
Cost of Sales
a/b
(14,755,347)
14,755,347
Net Revenue
$ 245,066,155 $
– $ 6,172,045 $ 251,238,200
Salaries and benefits expense
81,630,836
81,630,836
General and administrative
b
46,701,956
(46,701,956)
Depreciation and amortization expense
b
13,900,454
13,900,454
Other operating
b
24,316,836
(24,316,836)
Slot machine reimbursement
b
17,245,354
17,245,354
Advertising, promotion and sponsorships
b
20,534,733
(20,534,733)
Building repairs and maintenance
b
1,955,491
(1,955,491)
Building rent and occupancy
b
9,677,932
9,677,932
Materials and consumables
b
21,526,102
21,526,102
Advertising
b
20,534,733
20,534,733
Payment to Indigeneous
Gaming Regulators Inc.
3,232,128
3,232,128
Payment to Saskatoon
Prairieland Park Corporation
2,600,004
2,600,004
Other expense
b
7,071,482
7,071,482
Finance costs
b
9,725,004
9,725,004
$ 180,971,984 $
– $ 6,172,045 $ 187,144,029
Income due to Saskatchewan
Liquor and Gaming Authority
64,094,171
64,094,171
Unrealized gain on interest rate swaps
$
345,073 $
– $
– $
345,073
Total comprehensive income for the year
before distribution to Saskatchewan
Liquor and Gaming Authority
$ 64,439,244 $
– $
– $ 64,439,244