Current assets are to be interpreted in Current assets are to be interpreted in accordance with the meaning provided in AASB 101 Presentation of Financial Statements (AASB 101).

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Turn the raw legal text into a practical explanation grounded in Financial Sector (Collection of Data) (reporting standard) determination No. 35 of 2007 - DRS 300.0 - Statement of Financial Position.

Current assets are to be interpreted in accordance with the meaning provided in AASB 101 Presentation of Financial Statements (AASB 101).

1.1. Cash and cash equivalents

These items should be brought to account at the face value or the gross value of the outstanding balance where appropriate. Interest is taken to profit and loss when earned (refer to DRF 310.0 Statement of Financial Performance (DRF 310.0)).

1.1.1. Cash at bank and in hand

Includes notes and coins, overnight money, cash management trusts, and commercial paper.

1.1.2. Short term bank deposits

Include deposits available on demand (11am accounts, money market or 24-hour money), that are used by the DMF for daily liquidity/operations.

Do not include any deposits at call that are held as part of the DMF’s investments. These are to be disclosed as investments in item 3 of this form.

Do not include bank overdraft balances.

1.1.3. Total cash and cash equivalents

This is the sum of all cash and cash equivalents reporting items above.

1.2. Receivables

1.2.1. Contribution/deductible receivables

Report the total of contribution/deductible that is receivable from members.

1.2.1.1. Due

Report the outstanding balance of contribution/deductibles receivable from members.

1.2.1.2. Provision for doubtful debts

Report the value of contribution/deductible where collection is assessed as doubtful.

1.2.1.3. Net amount receivable

This is the value of contribution/deductibles receivable, net of any associated provision for doubtful debts.

1.2.2. Insurance and other recoveries outstanding

Report insurance and other recoveries outstanding. These include claims recoveries that may consist of recoveries from subrogation, salvage and other. Also include any recoveries due from Government under schemes and arrangements established in relation to DMF matters.

1.2.2.1. Due

Report outstanding balance of ‘Insurance and other recoveries outstanding’.

1.2.2.2. Provision for doubtful debts

Report the value of insurance and other recoveries outstanding where collection is assessed as doubtful.

1.2.2.3. Net amount receivable

This is the value of insurance and other recoveries outstanding, net of any associated provision for doubtful debts.

1.2.3. 1.2.3. Investment income receivable

Report the value of investment income receivable.

1.2.4. Calls and other receivables

1.2.4.1. Calls receivable