Note 2.1: Financial Assets
|
2019 |
2018 |
|
|---|---|---|
|
$'000 |
$'000 |
|
|
Note 2.1A - Cash and Cash Equivalents |
||
|
Cash and cash equivalents (NLA funds) |
6,423 |
10,490 |
|
Cash and cash equivalents (Trust funds) |
2,106 |
1,342 |
|
Short term deposit (NLA funds) |
10,124 |
2,561 |
|
Total Cash and Cash Equivalents |
18,653 |
14,393 |
Accounting policy
Cash
Cash is recognised at its nominal amount. Cash and cash equivalents includes cash on hand and 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.
|
2019 |
2018 |
|
|---|---|---|
|
$'000 |
$'000 |
|
|
Note 2.1B - Trade and Other Receivables |
||
|
Goods and services receivables |
||
|
Goods and services |
1,184 |
1,495 |
|
Total goods and services receivables |
1,184 |
1,495 |
|
Other receivables |
||
|
GST receivable from Australian Taxation Office |
276 |
388 |
|
Interest |
115 |
345 |
|
Total other receivables |
391 |
733 |
|
Total trade and other receivables (gross) |
1,575 |
2,228 |
|
Less impairment allowance |
(41) |
(4) |
|
Total trade and other receivables (net) |
1,534 |
2,224 |
Credit terms are net 30 days (2018: 30 days)
Accounting Policy
Loans and receivables
Trade receivables, loans and other receivables that have fixed or determinable payments that are not quoted in an active market are classified as `loans and receivables’. Loans and receivables are measured at amortised cost using the effective interest method less impairment. Interest is recognised by applying the effective interest rate.
|
Reconciliation of the Impairment Allowance |
|||
|---|---|---|---|
|
Movements in relation to 2018 |
|||
|
Goods and services |
Other receivables |
Total |
|
|
$'000 |
$'000 |
$'000 |
|
|
As at 1 July 2018 |
4 |
- |
4 |
|
Amounts written off |
- |
- |
- |
|
Amounts recovered and reversed |
- |
- |
- |
|
Increases recognised in net cost of services |
37 |
- |
37 |
|
Total as at 30 June 2019 |
41 |
- |
41 |
|
Movements in relation to 2018 |
|||
|
Goods and services |
Other receivables |
Total |
|
|
$'000 |
$'000 |
$'000 |
|
|
As at 1 July 2017 |
( 2) |
- |
( 2) |
|
Amounts written off |
- |
- |
- |
|
Amounts recovered and reversed |
- |
- |
- |
|
Increases recognised in net cost of services |
( 2) |
- |
( 2) |
|
Total as at 30 June 2018 |
( 4) |
- |
( 4) |
Accounting Policy
Impairment of financial assets
Financial assets are assessed for impairment at the end of each reporting period.
|
2019 |
2018 |
|
|---|---|---|
|
$'000 |
$'000 |
|
|
Note 2.1C - Other Investments |
||
|
Fixed term deposit (NLA funds) |
33,413 |
30,977 |
|
Fixed term deposit (Trust funds) |
8,167 |
7,990 |
|
Total other investments |
41,580 |
38,967 |
Other investments are expected to be recovered in less than 12 months.
Accounting policy
Other investments
Other investments are recognised at its nominal amount. Other investments includes term deposits at bank with an original maturity of greater than 3 months.
Visit
https://www.transparency.gov.au/annual-reports/national-library-australia/reporting-year/2018-2019-40