CGE ANNUAL REPORT

2022/23 ANNUAL REPORT

Financial Statements for the year ended 31 March 2023

Accounting Policies

• if the transaction is not within the scope of the policies listed in the above or another Standard of GRAP, the receivable is recognised when the definition of an asset is met and, when it is probable that the future economic benefits or service potential associated with the asset will flow to the entity and the transaction amount can be measured reliably.

1.20.2 Initial measurement The entity initially measures statutory receivables at their transaction amount.

1.20.3 Subsequent measurement The entity measures statutory receivables after initial recognition using the cost method. Under the cost method, the initial measurement of the receivable is changed subsequent to initial recognition to reflect any: • interest or other charges that may have accrued on the receivable (where applicable);

• impairment losses; and • amounts derecognised.

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