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Notes - 3. Departmental Financial Position
3. Departmental Financial Position
3.1 Financial Assets
Note 3.1A: Cash and Cash Equivalents
Cash on hand or on deposit
Total cash and cash equivalents
Cash is recognised at its nominal amount. Cash and cash equivalents includes:
a) cash on hand; and
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.
Note 3.1B: Trade and Other Receivables
Goods and services receivables
Goods and services
Total goods and services receivables
Total appropriations receivables
Statutory receivables - GST
Total other receivables
Total trade and other receivables (gross)
Less impairment loss allowance
Total trade and other receivables (net)
Credit terms for goods and services were within 30 days (2019: 30 days).
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.