Department of Corporate and Information Services annual report 2016-17
Northern Territory. Department of Corporate and Information Services
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Northern Territory. Department of Corporate and Information Services -- Periodical
Northern Territory Government
Department of Corporate and Information Services annual report; Annual report
Attribution International 4.0 (CC BY 4.0)
Northern Territory Government
Annual Report 2016-17 | Department of Corporate and Information Services210 D ATA CEN TR E SERVICES FIN AN CIAL R EPO RT 17. Financial Instruments A financial instrument is a contract that gives rise to a financial asset of one entity and a financial liability or equity instrument of another entity. Financial instruments held by DCS include cash and deposits, receivables, payables and finance leases. DCS has limited exposure to financial risks as discussed below. FINANCIAL INSTRUMENTS A financial instrument is a contract that gives rise to a financial asset of one entity and a financial liability or equity instrument of another entity. Financial assets and liabilities are recognised on the Balance Sheet when DCS becomes a party to the contractual provisions of the financial instrument. DCS financial instruments include cash and deposits; receivables; advances; investments loan and placements; payables; advances received; borrowings and derivatives. Due to the nature of operating activities, certain financial assets and financial liabilities arise under statutory obligations rather than a contract. Such financial assets and liabilities do not meet the definition of financial instruments as per AASB 132 Financial Instruments Presentation. These include statutory receivables arising from taxes including GST and penalties. Exposure to interest rate risk, foreign exchange risk, credit risk, price risk and liquidity risk arise in the normal course of activities. DCS investments, loans and placements, and borrowings are predominantly managed through the Northern Territory Treasury Corporation (NTTC) adopting strategies to minimise the risk. a) CATEGORISATION OF FINANCIAL INSTRUMENTS The carrying amounts of DCS financial assets and liabilities by category are disclosed in the table below. 2016-17 Categorisation of Financial Instruments Fair value through profit or loss Held to maturity investments Financial assets - Loans and receivables Financial assets - available for sale Financial liabilities - amortised cost Total Held for trading Designated at fair value $000 $000 $000 $000 $000 $000 $000 Cash and deposits - - - 10 817 - - 10 817 Receivables1 - - - 2 427 - - 2 427 Advances - - - - - - Investments loans and placements - - - - - - Other financial assets - - - - - - Interest rate swaps - - - - - - Total Financial Assets - - - 13 244 - - 13 244 Deposits held1 - - - - - - Payables1 - - - - - 510 510 Advances - - - - - - Loans - - - - - - Finance Lease Liabilities - - - - - - Interest rate swaps - - - - - - Total Financial Liabilities - - - - - 510 510 1 Total amounts disclosed here exclude statutory amounts.
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