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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.