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 72 Note 44: Fair value measurement (continued) Accounting policy Fair value measurement The fair value of assets and liabilities must be measured for recognition and disclosure purposes. The Group classifies fair value measurements using a fair value hierarchy that reflects the significance of inputs used in making the measurements. The fair value of assets or liabilities traded in active markets is based on quoted market prices for identical assets or liabilities at the reporting date. The quoted market price used for assets held by the Group is the most representative of fair value in the circumstances within the bid-ask spread. The fair value of instruments that are not traded in an active market is determined using valuation techniques. The Group uses a variety of methods and makes assumptions that are based on market conditions existing at each balance date. Fair value measurement of non-financial assets is based on the highest and best use of the asset. The Group considers market participants use of, or purchase price of the asset, to use it in a manner that would be highest and best use. The carrying value less impairment provision of trade receivables and payables are assumed to approximate their fair values due to their short-term nature. The fair value of financial liabilities for disclosure purposes is estimated by discounting the future contractual cash flows at the current market interest rate that is available to the Group for similar financial instruments.
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