CQUniversity Annual Report - Central Queensland University

CQUniversity ANNUAL REPORT 2012Note 18. ReceivablesCentral Queensland Universityand Controlled EntitiesNotes to the Financial Statementsfor the year ended 31 December 2012ConsolidatedParent EntityNotes 2012 2011 2012 2011$'000 $'000 $'000 $'000CurrentTrade receivablesCommercial and general debtors 4,462 5,504 3,830 5,821Student debtors 725 657 725 656Student loans 21 7 21 7Student board 20 10 20 105,228 6,178 4,596 6,494Less: Impaired receivables - Student debtors (149) (112) (149) (112)Less: Impaired receivables - Commercial and general debtors (187) (193) (187) (193)4,892 5873000 4,260 6,189Other receivablesAccrued revenue 12 15 7 7Prepayments 5,074 4,208 9,206 11,112(Net) GST 1,009 1,169 1,014 1,032Total current receivables 10,987 11,265 14,487 18,33929ANNUAL FINANCIAL STATEMENTSTotal receivables 10,987 11,265 14,487 18,339Impaired receivablesAs at 31 December 2012 current receivables of the Group with a nominal value of $335,597 (2011: $305,200) were consideredimpaired and form the value of the allowance.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 ParentEntity were past due but not impaired. These relate to a number of independent customers for whom there is no recent history ofdefault. The ageing analysis of these receivables is as follows:Up to 3 months3 to 6 monthsOver 6 monthsMovements in the allowance for impaired receivables are as follows:At 1 JanuaryAllowance for impairment recognised during the yearReceivables written off during the year as uncollectibleUnused amount reversed1,167 1,820 1,162 1,809451 135 410 135142 33 142 331,760 1,988 1,714 1,977305 180 305 180236 (17) 236 (17)(79) (64) (79) (64)(126) 206 (126) 206336 305 336 305The creation and release of the allowance for impaired receivables has been included in 'bad and doubtful debts' in the incomestatement. Amounts charged to the allowance account are generally written off when there is no expectation of recovering additionalcash.The other amounts within receivables do not contain impaired assets and are not past due. Based on credit history, it is expectedthat these amounts will be received when due.