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