annual report 2012 – 13 - Australian Government Solicitor

NOTES TO AND FORMING PART OF THE FINANCIAL STATEMENTSfor the year ended 30 June 2013Year ended30 June 2013$'000Year ended30 June 2012$'00022C – Net income and expenses from financial liabilitiesFinancial liabilitiesLease incentives – –Trade creditors – –Dividend payable – –Net gain/(loss) from financial liabilities – –22D – Fair value of financial instrumentsFinancial liabilitiesLease incentives 14 3 267 3 849Trade creditors 16 8 305 5 239Total 11 572 9 088Financial assets: The fair value is the same as the carrying amounts in the balance sheet.22E – Credit risk exposuresAGS is exposed to minimal credit risk as the majority of receivables are due from Commonwealth agencies.The maximum exposure to credit risk is the risk that arises from potential default of a debtor or non collectability ofdebt amounts. This amount is equal to the total amount of Receivables totalling $30 899 000 ($25 792 000 in 2012).AGS has assessed the risk of the non collectability of debt amounts and has allocated $461 000 ( $298 000 in 2012)to an impairment allowance account.AGS has policies and procedures in place for the recovery of debt.AGS holds no collateral to mitigate against credit risk.AGS has no significant exposures to any concentrations of credit risk.Credit quality of financial instruments not past due or individually determined as impaired:NotesNot pastdue norimpaired2013$'000Not pastdue norimpaired2012$'000Pastdue orimpaired2013$'000Pastdue orimpaired2012$'000Total cash and cash equivalents andinvestments 10B 39 572 47 745 – –Receivables – goods and services 11 18 344 16 061 5 326 4 106Receivables – interest 11 587 476 – –Receivables – other debtors 11 7 103 5 447 – –Total 65 606 69 729 5 326 4 10686 AGS Annual report 2012–13