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Accounting Policy
Trade and other payables
These amounts represent liabilities for goods and services provided to the Group prior to the end of
financial year which are unpaid and are measured at amortised cost. The amounts are unsecured and
are usually paid within 30 days of recognition.
Consolidated
2017
$’000
2016
$’000
Current assets
Cash at bank and in hand
28,155
3,813
Funds on deposit
80,081
103,648
108,236
107,461
Cash at bank earns interest at floating rates based on daily bank deposit rates. The “funds on
deposit” at balance date reflects funds available to the Group that have been placed on deposit with
major Australian banking institutions over various periods not exceeding 180 days consistent with the
Group’s Treasury Policy. The carrying amount of cash and cash equivalents equates to the fair value.
The Group’s exposure to interest rate, credit risk and rates earned for the above is set out in note 11.
Consolidated
2017
2016
Current
$’000
Non-
current
$’000
Total
$’000
Current
$’000
Non-
current
$’000
Total
$’000
Trade receivables
59,552
- 59,552
51,220
-
51,220
Provision for
doubtful receivables
(114)
-
(114)
(31)
-
(31)
Other receivables
12,605
645 13,250
12,911
707 13,618
72,043
645 72,688
64,100
707 64,807
Information on credit risk, impairment and fair value of trade and other receivables can be found in
note 11.
Consolidated
2017
$’000
2016
$’000
Current liabilities
Trade payables
74,847
77,949
Other payables
5,854
4,052
80,701
82,001
Information about the Group’s exposure to financial risk is set out in note 11.
(a) Cash and cash equivalents
(b) Trade and other receivables
(c) Trade and other payables
81
NOTE 6
FINANCIAL ASSETS AND FINANCIAL LIABILITIES