NOTES TO THE FINANCIAL STATEMENTS
11. Deferred tax:// CONTINUED Policies
Deferred tax is: —— Recognised on temporary differences between the carrying amounts of assets and liabilities for financial reporting purposes and the amounts used for taxation purposes. —— Not recognised for the initial recognition of goodwill. —— Measured at tax rates that are expected to be applied to the temporary differences when they reverse.
12. Cash and cash equivalents://
2017 $000 7,041 7,837
2016 $000
Cash and bank balances
3,241
Short-term deposits
318,130 321,371
Total
14,878
Policies
Cash and cash equivalents are carried at amortised cost less an allowance for expected credit losses. Cash and cash equivalents includes deposits that are on call.
• Disclosure Initiative (Amendments to IAS 7) The amendments were issued in January 2016. The amendments introduce a reconciliation between cash flows arising from financing activities as reported in the statement of cash flows to the corresponding liabilities in the opening and closing balance sheet. The amendments will be effective for the first time in the group’s financial year ended 30 June 2018.
New accounting standards not yet adopted
13. Trade and other receivables://
2017 $000
2016 $000
Current Trade receivables Accrued revenues Interest receivable
77,425 101,896 13,173
71,780 92,378 17,100
Prepayments
9,890 3,959
7,988 2,277
Other
Balance at 30 June
206,343
191,523
Non-current Other
39 39
51 51
Balance at 30 June
92
Vector://AR 17
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