(a) Critical accounting estimates and assumptions

The Company makes estimates and assumptions concerning the future. The resulting accounting estimates will, by definition, seldom equal the related actual results. The estimates and assumptions that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year are discussed below.

Provision for Employee Entitlements – ACRA

The Company raises a provision annually for future ACRA entitlements based on calculations performed by a qualified actuary, in accordance with the accounting policy stated in Note 1(v). These calculations require the use of assumptions in relation to the expected timing of retirements and discounting of the future cash flows. Refer Note 20 for details of the key actuarial assumptions.

Provision for Employee Entitlements – Player payment adjustments

The Company recognises a provision for the expected long-term benefits arising under a revenue share agreement with the Australian Cricketers Association. To the extent that actual revenue varies from current forecasts over the agreed term, the ultimate amount payable will vary. Refer Note 18 for further details.

(b) Critical judgements

No critical judgements were made in applying the entity’s accounting policies for the year ended 30 June 2016.