Download the Annual report 2011 - Unisa

UNISA ANNUAL REPORT 2011
• Student and other receivables/payables and student deposits
For receivables/payables and student deposits with a remaining life of less than one year, the carrying amount
is deemed to reflect the fair value.
19.6 Fair value hierarchy
The table below analyses financial instruments carried at fair value, by valuation method. The different levels
have been defined as follows:
• Level 1: quoted prices (unadjusted) in active markets for identical assets or liabilities
• Level 2: inputs other than quoted prices included within level 1 that are observable for the asset or liability,
either directly (i.e. as prices) or indirectly ( i.e. derived from prices)
• Level 3: inputs for the asset or liability that are not based on observable market data (unobservable inputs)
Level 1 Level 2 Level 3 Total
| 112 |
R’000 R’000 R’000 R’000
31 December 2011
Financial assets designated at fair value through
profit or loss
186 896 186 896
Financial assets held for trading 4 738 066 240 4 738 306
4 924 962 240 4 925 202
Level 1 Level 2 Level 3 Total
R’000 R’000 R’000 R’000
31 December 2010
Financial assets designated at fair value through
profit or loss
175 963 175 963
Financial assets held for trading 4 349 966 219 4 350 185
There have been no transfers between categories.
NOTE 20: CONTINGENT LIABILITIES
20.1 Guarantees
4 525 929 219 4 526 148
A contingent liability in the form of guarantees amounting to R329 928 (2010: R359 928) exists in respect of
loans granted by financial institutions to staff of the University in terms of a housing loan scheme.
20.2 Industrial relations
At 31 December 2011 outstanding claims amounting to approximately R5 million (2010: R10,5 million) in
respect of on-going industrial relations litigation existed. No provisions for settlement of these claims have
been raised at year end.