Wintec Annual Report 2009

FINANCIAL PERFORMANCE
NOTES TO THE FINANCIAL STATEMENTS (CONT)
FOR THE YEAR ENDED 31 DECEMBER 2009
17bFINANCIAL INSTRUMENT RISKS (CONT)
Credit risk
With the exception of student fees the institute trades only with recognised, creditworthy third parties.
Receivable balances are monitored on an ongoing basis with the result that the institute’s exposure to bad debts is not
significant as a result of the ability to withhold graduation from students who do not pay their fees.
With respect to credit risk arising from the other financial assets of the institute, which comprise cash and cash
equivalents and available for sale financial assets, the institute’s exposure to credit risk arises from default of the
counter party, with a maximum exposure equal to the carrying amount of these instruments.
The institute does not hold any collateral as security or any credit enhancements.
There are no significant concentrations of credit risk within the institute.
CREDIT RISK - ACCOUNTS RECEIVABLE AGING ANALYSIS
YEAR ENDED
31 DECEMBER 2009 CONSOLIDATED PARENT
Current Overdue Overdue
provided for
Total Current Overdue Overdue
provided for
$000 $000 $000 $000 $000 $000 $000 $000
Total
Other receivables 1,131 484 50 1,665 1,131 459 50 1,640
Related party receivables - - - - - - - -
TOTAL 1,131 484 50 1,665 1,131 459 50 1,640
YEAR ENDED
31 DECEMBER 2008 CONSOLIDATED PARENT
Current Overdue Overdue
Provided for
Total Current Overdue Overdue
Provided for
$000 $000 $000 $000 $000 $000 $000 $000
Total
Other Receivables 4,299 268 50 4,617 4,298 264 50 4,612
Related Party Receivables 1 - - 1 1 - - 1
TOTAL 4,300 268 50 4,618 4,299 264 50 4,613
Wintec Annual Report 2009 _ 69