Note 14A: Categories of Financial Instruments
2015 $’000 |
2014 $’000 |
|
---|---|---|
Financial Assets | ||
Loans and Receivables | ||
Cash and cash equivalents | 202 | 257 |
Goods and services receivables | 7 | 118 |
Other receivables | 136 | 138 |
Total Loans and Receivables | 345 | 513 |
Total Financial Assets | 345 | 513 |
Financial Liabilities | ||
Financial liabilities measured at amortised cost | ||
Suppliers | 1,457 | 1,563 |
Total Financial liabilities measured at amortised cost | 1,457 | 1,563 |
Total Financial Liabilities | 1,457 | 1,563 |
The FWBII has no net income or expenses from financial instruments.
Note 14B: Fair Value of Financial Instruments
The carrying amount of all financial assets and liabilities as at 30 June 2015 approximates their fair value.
Note 14C: Credit Risk
The FWBII is exposed to minimal credit risk through trade and other receivables. The maximum exposure to credit risk is the risk that arises from potential default of a debtor. The FWBII’s debtors are generally limited to other Australian Government agencies and FWBII employees. The FWBII has policies and procedures that guide the recovery of employee debts.
The FWBII holds no collateral to mitigate against credit risk.
Financial Assets | Not Past Due Nor Impaired 2015 $’000 |
Past Due But Not Impaired 2014 $’000 |
Past Due and Impaired 2015 $’000 |
Past Due But Not Impaired 2014 $’000 |
---|---|---|---|---|
Cash and cash equivalents | 202 | 257 | – | – |
Goods and services receivables | 7 | 118 | – | – |
Other receivables | 136 | 80 | – | 58 |
Total | 345 | 455 | – | 58 |
Financial Assets | 0 to 30 days $’000 |
31 to 60 days $’000 |
60 to 90 days $’000 |
90 and more days $’000 |
Total |
---|---|---|---|---|---|
Other receivables | – | – | – | – | – |
Total | – | – | – | – | – |
Financial Assets | 0 - 30 days $’000 |
31 - 60 days $’000 |
60 to 90 days $’000 |
90 and more days $’000 |
Total |
---|---|---|---|---|---|
Other receivables | – | – | – | 58 | 58 |
Total | – | – | – | 58 | 58 |
Note 14D: Liquidity Risk
The FWBII’s financial liabilities are payables. The exposure to liquidity risk is based on the notion that the FWBII will encounter difficulties in meeting its obligations associated with financial liabilities. This is highly unlikely due to appropriation funding and internal policies and procedures in place to ensure the FWBII has access to appropriate resources to meet its financial obligations as and when they fall due.
The maturities for all financial liabilities are within one year (2014: within 12 months).
Note 14E: Market Risk
The FWBII holds basic financial instruments that do not expose it to currency, interest rate or other price risks.