CQUniversity Annual Report - Central Queensland University
CQUniversity Annual Report - Central Queensland University
CQUniversity Annual Report - Central Queensland University
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<strong>CQ<strong>University</strong></strong> ANNUAL REPORT 2012<br />
Note 18. Receivables<br />
<strong>Central</strong> <strong>Queensland</strong> <strong>University</strong><br />
and Controlled Entities<br />
Notes to the Financial Statements<br />
for the year ended 31 December 2012<br />
Consolidated<br />
Parent Entity<br />
Notes 2012 2011 2012 2011<br />
$'000 $'000 $'000 $'000<br />
Current<br />
Trade receivables<br />
Commercial and general debtors 4,462 5,504 3,830 5,821<br />
Student debtors 725 657 725 656<br />
Student loans 21 7 21 7<br />
Student board 20 10 20 10<br />
5,228 6,178 4,596 6,494<br />
Less: Impaired receivables - Student debtors (149) (112) (149) (112)<br />
Less: Impaired receivables - Commercial and general debtors (187) (193) (187) (193)<br />
4,892 5873000 4,260 6,189<br />
Other receivables<br />
Accrued revenue 12 15 7 7<br />
Prepayments 5,074 4,208 9,206 11,112<br />
(Net) GST 1,009 1,169 1,014 1,032<br />
Total current receivables 10,987 11,265 14,487 18,339<br />
29<br />
ANNUAL FINANCIAL STATEMENTS<br />
Total receivables 10,987 11,265 14,487 18,339<br />
Impaired receivables<br />
As at 31 December 2012 current receivables of the Group with a nominal value of $335,597 (2011: $305,200) were considered<br />
impaired and form the value of the allowance.<br />
Trade receivables with a value of $1,760,216 (2011: $1,987,505) for the Group and $1,714,462 (2011: $1,977,042) for the Parent<br />
Entity were past due but not impaired. These relate to a number of independent customers for whom there is no recent history of<br />
default. The ageing analysis of these receivables is as follows:<br />
Up to 3 months<br />
3 to 6 months<br />
Over 6 months<br />
Movements in the allowance for impaired receivables are as follows:<br />
At 1 January<br />
Allowance for impairment recognised during the year<br />
Receivables written off during the year as uncollectible<br />
Unused amount reversed<br />
1,167 1,820 1,162 1,809<br />
451 135 410 135<br />
142 33 142 33<br />
1,760 1,988 1,714 1,977<br />
305 180 305 180<br />
236 (17) 236 (17)<br />
(79) (64) (79) (64)<br />
(126) 206 (126) 206<br />
336 305 336 305<br />
The creation and release of the allowance for impaired receivables has been included in 'bad and doubtful debts' in the income<br />
statement. Amounts charged to the allowance account are generally written off when there is no expectation of recovering additional<br />
cash.<br />
The other amounts within receivables do not contain impaired assets and are not past due. Based on credit history, it is expected<br />
that these amounts will be received when due.
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