Page 76 - OneVue Annual Report 2015

Notes to the financial statements

Note 22. Equity – accumulated losses

Accumulated losses at the beginning of the financial Consolidated 2014
year 2015 $'000
$'000
Loss after income tax for the year (17,323)
Transfer from reserves (22,068) (5,237)
Accumulated losses at the end of the financial year (220)
16 492
(22,068)
(22,272)

Franking credits

Franking credits available for subsequent financial Consolidated 2014
years based on a tax rate of 30% 2015 $'000
$'000
731
1,222

The above amounts represent the balance of the franking account as at the end of the financial year, adjusted for:

• franking credits that will arise from the payment of the amount of the provision for income tax at the reporting date
• franking debits that will arise from the payment of dividends recognised as a liability at the reporting date
• franking credits that will arise from the receipt of dividends recognised as receivables at the reporting date

Note 23. Financial instruments

Financial risk management objectives

OneVue's activities expose it to a variety of financial risks: market risk (including currency risk, price risk and interest
rate risk), credit risk and liquidity risk. OneVue's overall risk management program focuses on the unpredictability of
financial markets and seeks to minimise potential adverse effects on the financial performance of OneVue. OneVue
uses different methods to measure different types of risk to which it is exposed. These methods include sensitivity
analysis in the case of other price risks, ageing analysis for credit risk and beta analysis in respect of investment
portfolios to determine market risk.

Risk management is carried out by senior finance executives ('finance') under policies approved by the Board of
Directors ('the Board'). These policies include identification and analysis of the risk exposure of OneVue and
appropriate procedures, controls and risk limits. Finance identifies, evaluates and hedges financial risks within
OneVue's operating units. Finance reports to the Board on a monthly basis.

OneVue’s Audit, Risk Management and Compliance Committee oversees how management monitors compliance
with OneVue’s risk management policies and procedures and reviews the adequacy of the risk management
framework in relation to the risks faced by OneVue.

76 - ONEVUE ANNUAL REPORT 2015