NOTES TO AND FORMING PART OF THE FINANCIAL STATEMENTS
Association of Maritime Education and Training Institutions in Asia Pacific
30th June 1999
1 Accounting Policies
These financial statements are a special purpose financial report prepared in order to satisfy the accounts preparation requirements of the committee of the Association of Maritime Education and Training Institutions in Asia Pacific.
The committee have determined that the Association is not a reporting entity and therefore there is no need to apply Accounting Standards or other mandatory professional reporting requirements in the preparation and presentation of the financial statements.
The financial statements have been prepared on a cash basis whereby items are brought to account as they are received or paid from the records of the Association.
