Speech Pathology Australia Annual Report 2023

7. FINANCIAL ASSETS

2023

2022

$

$

Short term deposits (i) Investment portfolio (ii) Short term deposits

2,422,356

2,369,821

949,913

889,343

3,372,269

3,259,164

(i) Short term deposits with an original term greater than 3 months and fixed interest rates between 5.00% and 5.20% (2022: 3.41% to 4.10%). Deposits mature in 2024 with the carrying amounts measured at amortised cost. (ii) Represents investments in management funds and recorded at fair value through profit or loss, based on the quoted market prices of the underlying assets. Reconciliation of the fair value at the beginning and end of the current and previous financial years are set out below:

2023

2022

$

$

Opening fair value Interest income

889,343

963,994

8,187

0

Revaluation adjustment

52,383 949,913

(74,651) 889,343

Closing fair value

8. ACCOUNTS RECEIVABLES AND OTHER DEBTORS 2023

2022

$

$

CURRENT Trade receivables, gross

110,909 110,909

164,470 164,470

Total current trade and other receivables

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. The Company writes off a trade receivable when there is information indicating that the debtor is in severe financial difficulty and there is no realistic prospect of recovery, e.g., when the debtor has been placed under liquidation or has entered into bankruptcy proceedings or when the trade receivables are over 3 years past due, whichever occurs first.

38 Speech Pathology Australia | 2023 Annual Report