Notes to the financial statements - 3.1 Financial Assets
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Departmental Financial Position |
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This section analyses Geoscience Australia's assets used to conduct its operations and the operating liabilities incurred as a result. Employee related information is disclosed in the People and Relationships section. |
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3.1 Financial Assets |
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2019 |
2018 |
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$’000 |
$’000 |
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3.1A: Trade and other receivables |
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Goods and services receivables |
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Goods and services |
3,628 |
5,074 |
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Total goods and services receivables |
3,628 |
5,074 |
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Appropriations receivable |
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Appropriation receivable |
65,636 |
50,959 |
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Total appropriations receivable |
65,636 |
50,959 |
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Other receivables |
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Statutory receivables |
2,111 |
2,023 |
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Other |
1,800 |
513 |
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Total other receivables |
3,911 |
2,536 |
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Total trade and other receivables (gross) |
73,175 |
58,569 |
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Less impairment allowance |
0 |
0 |
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Total trade and other receivables (net) |
73,175 |
58,569 |
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Credit terms for goods and services were within 30 days (2018: 30 days). |
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Accounting Policy Financial assets Trade receivables, loans and other receivables that are held for the purpose of collecting the contractual cash flows where the cash flows are solely payments of principal and interest, that are not provided at below‐market interest rates, are subsequently measured at amortised cost using the effective interest method adjusted for any loss allowance. |
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https://www.transparency.gov.au/annual-reports/geoscience-australia/reporting-year/2018-2019-52