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2.1 Financial Assets

2020

2019

$’000

$’000

2.1A: Cash

Cash on hand and at bank

2,575

6,942

Total cash and cash equivalents

2,575

6,942

Accounting Policy

Cash is recognised at its nominal amount. Cash and cash equivalents includes:

a) cash on hand;

b) demand deposits in bank accounts with an original maturity of 3 months or less that are readily

convertible to known amounts of cash and subject to insignificant risk of changes in value. At the

reporting date the Commission did not hold any term deposits with a maturity greater than three

months.

2.1B: Trade and Other Receivables

Goods and services receivables

Goods and services

3,317

1,537

Total goods and services receivables

3,317

1,537

Other receivables

Interest

0

4

GST Receivable from the Australian Taxation Office

0

0

Total other receivables

0

4

Total trade and other receivables (gross)

3,317

1,541

Less impairment loss allowance

0

0

Total trade and other receivables (net)

3,317

1,541

Trade and other receivables (net) expected to be recovered

No more than 12 months

3,317

1,541

Total trade and other receivables (net)

3,317

1,541

Accounting Policy

Receivables

Receivables are measured at amortised cost using the effective interest method less impairment.