Note 7 Payables
Note 7A: Suppliers |
2019 |
2018 |
---|---|---|
$ |
$ |
|
Trade creditors and accruals |
1,537,287 |
1,461,109 |
Total suppliers |
1,537,287 |
1,461,109 |
All suppliers are non-related entities and are expected to be settled within 12 months. |
||
Settlement was usually made net 30 days. |
Accounting Policy
Financial liabilities are classified as other financial liabilities. Financial liabilities are recognized and de-recognised upon ‘trade date’. Suppliers and other payables are recognised at cost. Liabilities are recognised to the extent that the goods or services have been received (and irrespective of having been invoiced).
Note 7B: Other Payables Other Payables |
2019 |
2018 |
---|---|---|
$ |
$ |
|
Wages and salaries |
347,824 |
234,925 |
Superannuation |
18,552 |
446 |
GST payable |
323,361 |
347,420 |
Vending commissions |
(46) |
5,574 |
Other |
223,375 |
201,555 |
Total other payables |
913,066 |
789,921 |
Visit
https://www.transparency.gov.au/annual-reports/army-and-air-force-canteen-service/reporting-year/2018-2019-45