Note 4: Financial assets
Note 4A: Cash and cash equivalents | 2020 $’000 | 2019 $’000 |
|---|---|---|
Cash at bank or on deposit | 68,661 | 13,638 |
Cash on hand | — | 2 |
Total cash and cash equivalents | 68,661 | 13,640 |
Accounting Policy
Cash is recognised at its nominal amount. Cash and cash equivalents includes:
- cash on hand; and
- 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 4B: Trade and other receivables | 2020 $’000 | 2019 $’000 |
|---|---|---|
Goods and services receivable | ||
Goods and services | 1,528 | 2,903 |
GST receivable from the Australian Taxation Office | 1,660 | 1,122 |
Total goods and services receivables | 3,188 | 4,025 |
Receivable from Government | ||
Foreign exchange losses receivable | 2,602 | 3,916 |
Total receivable from Government | 2,602 | 3,916 |
Other receivables | ||
Deposits and advances | 798 | 859 |
Interest | — | 19 |
Total other receivables | 798 | 878 |
Total trade and other receivables (gross) | 6,588 | 8,819 |
Less impairment loss allowance | — | — |
Total trade and other receivables (net) | 6,588 | 8,819 |
Credit terms for goods and services were within 30 days (2019: 30 days)
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.
Visit
https://www.transparency.gov.au/annual-reports/tourism-australia/reporting-year/2019-20-119