Territory Stories

Annual Report 2015-2016 Tourism NT



Annual Report 2015-2016 Tourism NT

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Tabled Paper 185


Tabled papers for 13th Assembly 2016 - 2020; Tabled papers; ParliamentNT






Made available by the Legislative Assembly of the Northern Territory under Standing Order 240. Where copyright subsists with a third party it remains with the original owner and permission may be required to reuse the material.




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1835-1387 (Online)



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87Tourism NT Annual Report 2015-16 (d) Market Risk Market risk is the risk that the fair value of future cash flows of a financial instrument will fluctuate because of changes in market prices. It comprises interest rate risk, price risk and currency risk. (i) Interest Rate Risk Tourism NT is not exposed to interest rate risk as Agency financial assets and financial liabilities are non-interest bearing. (ii) Price Risk Tourism NT is not exposed to price risk as the Agency does not hold units in unit trusts. (iii) Currency Risk Tourism NT has limited exposure to currency risk as the Agency does not have borrowings denominated in foreign currencies and has minimum (once a year) transactional currency exposures arising from purchases in a foreign currency. (e) Net Fair Value The fair value of financial instruments is estimated using various methods. These methods are classified into the following levels: Level 1 - derived from quoted prices in active markets for identical assets or liabilities Level 2 - derived from inputs other than quoted prices that are observable directly or indirectly Level 3 - based on inputs not based on observable market data. Total Carrying Amount Net Fair Value Level 1 Net Fair Value Level 2 Net Fair Value Level 3 Net Fair Value Total $'000 $'000 $000 $000 $000 2016 Financial Assets Cash and deposits 1,207 1,207 0 0 1,207 Receivables 26 26 0 0 26 TOTAL FINANCIAL ASSETS 1,233 1,233 0 0 1,233 Financial Liabilities Payables 797 797 0 0 797 TOTAL FINANCIAL LIABILITIES 797 797 0 0 797 2015 Financial Assets Cash and deposits 3,687 3,687 0 0 3,687 Receivables 46 46 0 0 46 TOTAL FINANCIAL ASSETS 3,733 3,733 0 0 3,733 Financial Liabilities Payables 1,000 1,000 0 0 1,000 TOTAL FINANCIAL LIABILITIES 1,000 1,000 0 0 1,000 Note: The carrying amount of Tourism NTs financial assets and liabilities recorded in the financial statements approximates their net fair value.

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