Note 6: Financial Assets
2020 | 2019 | |
$'000 | $'000 | |
Note 6A: Trade and Other Receivables | ||
Good and Services | ||
Goods and services | 446 | 367 |
Total goods and services receivables | 446 | 367 |
Appropriations receivable: | ||
For existing programs | 12,202 | 10,549 |
Total appropriations receivable | 12,202 | 10,549 |
Other receivables | ||
GST receivable from the Australian Taxation Office | 735 | 340 |
Other receivables | 79 | 21 |
Total other receivables | 814 | 361 |
Total trade and other receivables (gross) | 13,462 | 11,277 |
Less impairment loss allowance | ||
Goods and services | (16) | (6) |
Total impairment loss allowance | (16) | (6) |
Total trade and other receivables (net) | 13,446 | 11,271 |
Credit terms for goods and services was 30 days (2019: 30 days).
Accounting Policy
Cash and Cash Equivalents
Cash is recognised at its nominal amount.
Trade receivables
Trade 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. Receivables are assessed for impairment at the end of each reporting period. A loss allowance of $15,632 was recognised as at 30 June 2020 (2019: $5,848).
The fair value of CDPP's financial assets and liabilities approximate their carrying amounts. The CDPP derived no interest income from financial assets in either the current or prior year.
Visit
https://www.transparency.gov.au/annual-reports/office-director-public-prosecutions/reporting-year/2019-20-57