Speech Pathology Australia Annual Report 2020
5 Revenue The Company’s revenue may be analysed as follows for each major product and service category:
7 Cash and cash equivalents Cash and cash equivalents consist the following:
2020
2019
2020
2019
$
$
$
$
Revenue Member services • Member subscriptions • Publication income
Cash on hand
500
500
Cash at bank
2,628,067 2,667,107 1,930,000 1,930,000
4,399,071 4,055,879
Term deposit
68,540 31,040
69,569 46,020
Cash and cash equivalents
• Eligibility fees
4,558,567 4,597,607
• Insurance administration fees
209,283 139,381
• Member services
66,715
48,928
7.1 Reconciliation of cash Cash at the end of the financial year as shown in the statement of cash flows is reconciled in the statement of financial position as follows:
• Continuing education
520,450 590,506
• Conference
-
705,292
• Professional resources and services • Copyright royalties
261,044 316,400
113,296 135,017 1,873 5,671,641 6,108,865 2,202
2020
2019
• Resource Guide
$
$
4,558,567 4,597,607
Cash and cash equivalents
Other income • Cash flow boost
100,000 105,812
-
• Rent
91,220
7.2
Financial assets
• Interest • Grants
34,033 106,529 321,329 295,025 561,174 492,774 6,232,815 6,601,639
2020
2019
$
$
Short term deposits (i)
576,150 687,871
Investment portfolio (ii)
850,000
-
Disaggregation of revenue The disaggregation of revenue from contracts with customers is as follows:
Short term deposits
1,426,150 687,871
(i) Short term deposits with fixed interest rates between 0.40% and 0.55% (2019: 1.52% to 1.59%) They mature in 2021 with the carrying amounts measured at amortised cost. (ii) Represents investment in management fund and recorded at fair value through profit or loss.
2020
2019
$
$
Geographical regions Australia
103,887
106,595
8
Accounts receivables and other debtors
2020
2019
$
$
6
Income tax expense
Current Trade receivables, gross Total current trade and other receivables
2020
2019
46,123
74,806
$
$
46,123
74,806
The components of tax expense comprise: Current tax
The Company measures the loss allowance for trade receivables at an amount equal to lifetime expected credit loss (ECL). The ECL on trade receivables are estimated using a provision matrix by reference to past default experience of the debtor and an analysis of the debtor’s current financial position, adjusted for factors that are specific to the debtors, general economic conditions of the industry in which the debtors operate and an assessment of both the current as well as the forecast direction of conditions at the reporting date. There has been no change in the estimation techniques or significant assumptions made during the current reporting period.
18,433
326
Total Income Tax Expense
18,433
326
31
2020 ANNUAL REPORT Speech Pathology Australia
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