b"EQUESTRIAN AUSTRALIA LIMITED ABN 19 077 455 755NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 20193. ACCOUNTING STANDARDS AND INTERPRETATIONS ISSUED BUT NOT OPERATIVE AT JUNE 2019 (continued)AASB 1058 also permits a not-for-profit company to recognise volunteer services as an asset orexpense(asapplicable)andanyrelatedcontributionsbyownersorrevenueasan accounting policy choice, provided that the fair value of the services can be measured reliably.AASB 15: Revenue from Contracts with Customers Theapplicationdateofthenewrevenuerecognitionstandard,AASB15Revenuefrom Contracts and Customers has been deferred to annual reporting periods commencing after 1 January 2019 for Not-for-Profit Companies. AASB 15 provides a single comprehensive model for revenue recognition. The core principle of the standard is that a company shall recognise revenue to depict the transfer of promised goods or services to customers at an amount that reflects the consideration to which the company expects to be entitled in exchange for those goods or services. The initial assessment is that there will be minimal impact from the transition to these new accounting standards in the next financial year.4. FINANCIAL RISK MANAGEMENTThe Company's financial instruments consist mainly of deposits with banks, local money market instruments, accounts receivable and payable, and leases.The organisation is exposed to a variety of financial risks comprising: (a) Government funding risk (b) Interest rate risk (c) Credit risk (d) Liquidity riskThe board of directors have overall responsibility for identifying and managing operational and financial risks. (a) Government funding riskThe organisation is dependent on federal government funding to operate many of its services. Government funding contributed 53% (2018: 45%) of the organisation's revenues in the 2019 financial year. The risk of loss of these funding streams is considered to be material to the organisation. This risk is managed through a range of complementary strategies but cannot be totally mitigated. The major risk management strategies are:\x03\x0364"