Charles Darwin Univiersity financial statements 2017
Charles Darwin Univiersity
Charles Darwin Univiersity financial statements; Reports; PublicationNT
Made available via the Publications (Legal Deposit) Act 2004 (NT).
Charles Darwin University -- Periodicals; Charles Darwin University -- Finance -- Periodicals; Financial statements -- Australia -- Northern Territory; Universities and colleges -- Australia -- Northern Territory -- Finance -- Periodicals
Charles Darwin University
v. ; 30 cm.
Charles Darwin University
http://territorystories.nt.gov.au/jspui/handle/10070/306001 [Charles Darwin University finanical statement]
Notes to the Financial Statements For the year ended 31 December 2017 37 Note 16: Receivables Consolidated Parent Entity 2017 2016 2017 2016 $'000 $'000 $'000 $'000 Current Trade receivables 5,657 7,109 5,117 6,557 Student fees 5,911 1,621 1,593 1,621 Other debtors 1,816 1,816 1,816 1,816 GST receivable 541 947 536 899 Less: Provision for impaired receivables (941) (925) (928) (925) Total receivables 12,984 10,568 8,134 9,968 Accounting Policy Trade receivables Trade receivables are recognised initially at fair value being original invoice amount, subsequently measured at amortised cost, less provision for impairment. Trade receivables are due for settlement within no more than 30 days. Collectability of trade receivables is reviewed on an ongoing basis. Debts which are known to be uncollectible are written off. A provision for impairment of receivables is established when there is objective evidence that the Group will not be able to collect all amounts due according to the original terms of receivables. Significant financial difficulties of the debtor, probability that the debtor will enter bankruptcy or financial reorganisation, and default or delinquency in payments (more than 30 days overdue) are considered indicators that the trade receivable is impaired. The amount of the provision is the difference between the asset's carrying amount and the present value of estimated future cash flows, discounted at the effective interest rate. Cash flows relating to short-term receivables are not discounted if the effect of discounting is immaterial. The amount of the provision is recognised in the income statement. As of 31 December 2017, trade receivables of the consolidated entity with a nominal value of $2.58 million (2016: $0.62 million) were past due but not impaired. These relate to a number of independent customers and students for whom there is no recent history of default. The ageing analysis of these receivables is as follows: Consolidated Parent Entity 2017 2016 2017 2016 $'000 $'000 $'000 $'000 The ageing of these receivables is: 3 to 6 months 603 224 590 217 Over 6 months 1,978 397 1,891 397 Total 2,581 621 2,481 614
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