Recognition, measurement and presentation

Recognition, measurement and presentation
(a) Cash and cash equivalents
Cash and cash equivalents include cash at bank and on hand, bank
deposits and negotiable certificates of deposit that are held to meet
short-term cash commitments rather than for investment purposes.
Bank deposits and negotiable certificates of deposit are classified as
financial assets held at amortised cost.
(b) Short-term borrowings in financing cash flows
Where our short-term borrowings are held for the purposes of
meeting short-term cash commitments, we report the cash receipts
and subsequent repayments in financing activities on a net basis in
the statement of cash flows.
(c) Goods and Services Tax (GST) (including other value-added
We record our revenue, expenses and assets net of any applicable
GST, except where the amount of GST incurred is not recoverable
from the Australian Taxation Office (ATO). In these circumstances the
GST is recognised as part of the cost of acquisition of the asset or as
part of the expense item.
Receivables and payables balances include GST where we have
either included GST in our price charged to customers or a supplier
has included GST in their price charged to us. The net amount of GST
due to the ATO but not paid is included in our current trade and other