Australian Water Information Dictionary

Standards: Water Accounting Conceptual Framework

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Includes but is not limited to, responsibilities under legislation, regulations or operational plans. It also means the responsibility to provide information that enable users to make informed judgements about the management of water resources.

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Recording and reporting the effects of transactions, transformations and other events when the decision or commitments that give rise to them occur. This may not necessarily be the time at which water is physically transacted, transferred or transformed. Accrual water accounting ensures that transactions, transformations and other events are recorded in and reported in the reporting periods to which they relate.

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To provide independent attestation that the reports have been prepared in accordance with approved water accounting standards and other approved pronouncements governing the content of the reports and are consistent with the concepts in the Water Accounting Conceptual Framework. Assurance reduces the risk that the information provided is incorrect.

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A right to water or an interest or claim associated with a right to water.

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Adherence to relevant externally-imposed requirements, or with broader notions of best practice relevant to water reporting entities, such as statutory requirements, regulations, rules, ordinances, or directives, in respect of which non-compliance may have, or may have had, an economic, environmental or social effect.

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A water accounting report intended to meet the information needs common to users who are unable to command the preparation of water accounting reports tailored to satisfy their information needs. A general purpose water accounting report is prepared in accordance with Australian Water Accounting Standards and comprises a Contextual Statement, an Accountability Statement, water accounting statements, accompanying note disclosures and an Assurance Statement.

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Subsurface water in soils and geological formations that are fully saturated.

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The water assets that relate to groundwater, excluding soil moisture and water held in works underground.

In the National Water Account, it is quantified as the total of managed groundwater volumes of each groundwater management unit significant to the water balance within the region. For example where available this managed volume corresponds to the permissible consumptive volume specified in the water management plan.

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Increases in the groundwater assets of a water reporting entity.

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Decreases in the groundwater assets of a water reporting entity.

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The water accounting report of a group water report entity presented as a single water entity.

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An obligation that derives from: (a) a contract, (b) legislation, or (c) other operation of law.

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The excess of the water assets of the water report entity after deducting all of its water liabilities.

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Include a broad array of rights, with associated obligations, to access and use water or to have access to water infrastructure and may arise from common or statute law. Such rights include but are not limited to: riparian rights to water in a stream, water access licence or entitlements, annual water allocations, the right to a water supply service that may be subject to restrictions, shares in water distribution infrastructure capacity, the right to trade water entitlement or annual water allocation and the right to use water on a site subject to specified conditions.

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A water accounting report tailored to the information needs of a user able to command this information.

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Water that flows over or is stored on the surface of the earth. For the purpose of the National Water Account, this excludes the water in the water distribution system.

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Water assets that relate to surface water including water storage – stored or in transit – in catchments, regulated rivers and utility networks and soil moisture. Water storage in utility networks includes all water in works such as pipes regardless of whether these works are above or below the surface of the earth.

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Increases in the surface water assets of a water reporting entity.

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Decreases in the surface water assets of a water reporting entity.

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A systematic process of identifying, recognising, quantifying, reporting and assuring information about water, the rights or other claims to that water and the obligations against that water.

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Comprise the Statement of Water Assets and Water Liabilities, the Statement of Changes in Water Assets and Water Liabilities, and the Statement of Physical Water Flows.

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A physical entity, an organisation or individual that: (a) holds or transfers water, (b) holds or transfers rights or other direct or indirect claims to water, (c) has inflows and/or outflows of water or (d) has responsibilities relating to the management of water.

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A present obligation of the water report entity, the discharge of which is expected to result in a decrease in the water report entity’s water assets or an increase in another water liability.

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Surface water or groundwater that is stored.

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