Page 144 - HKCAAVQ AR 2018-19

Financial Report ৌਕజѓ

Notes to the Financial Statements (continued)
ৌਕజڌڝൗ€ᚃ

For the year ended 31 March 2019 ࿚Їɚཧɓɘϋɧ˜ɧɤɓ˚˟ϋܓ

12. Accounts and other Receivables 12. ᏐϗሪಛձՉ˼Ꮠϗ
(continued) ಛ€ᚃ

As at 31 March 2019 and 1 April 2018, accounts receivable ׵ɚཧɓɘϋɧ˜ɧɤɓ˚ձ
from contracts with customers amounted to HK$7,473,981 and ɚཧɓɞϋ̬˜ɓ˚dԸІၾ܄
HK$13,958,726 respectively. ˒ᖦࠈΥߒٙᏐϗሪಛʱйމಥ
࿆7,473,981ʩձಥ࿆13,958,726
ʩf

As at 31 March 2019, included in the Council’s accounts ׵ɚཧɓɘϋɧ˜ɧɤɓ˚d͉҅
receivable balance are debtors with aggregate carrying amount Ꮠϗሪಛቱᕘʕܼ̍වਕɛ࿚Ї
of HK$4,903,941 which are past due as at the reporting జѓ˚གྷಂ͊˹ሪಛᐼᕘމಥ࿆
date. Out of the past due balances, HK$469,720 has been 4,903,941ʩfίཀ̘ٙՑಂቱᕘ
past due 90 days or more and is not considered as in default ʕdಥ࿆469,720ʩʊ຾གྷಂ൴ཀ
by considering the background of the debtors, subsequent 90˂א˸ɪdϽᅇՑවਕɛٙߠ
settlement, historical payment arrangement and credit standing ౻eܝᚃഐၑe˸ֻ˹ಛτરձவ
of these accounts receivable. ԬᏐϗሪಛٙڦ൲ًرdʔ஗ൖމ
༼ߒf

As at 31 March 2018, 82% of the accounts receivable that are ׵ɚཧɓɞϋɧ˜ɧɤɓ˚d
neither past due nor impaired have the best credit standing 82%ٙᏐϗሪಛ݅͊གྷಂɰ͊೯
under the credit assessment made by the management of ͛ಯ࠽d࣬ኽ͉҅၍ଣᄴٙڦ൲൙
the Council and the Council considered that these accounts ПdவԬᏐϗሪಛٙڦ൲ًرڢ੬
receivable have no adverse change in the credit standing of the Ԅλf͉҅Ⴉމdί͉జѓהࠑಂ
debtors subsequent to the reporting period. ගʘܝdவԬᏐϗሪಛවਕɛٙڦ
൲ًرӚϞʔлٙҷᜊf

As at 31 March 2018, included in the Council’s accounts ׵ɚཧɓɞϋɧ˜ɧɤɓ˚d͉҅
receivable balance are debtors with aggregate carrying amount Ꮠϗሪಛቱᕘʕܼ̍වਕɛ࿚Ї
of HK$2,495,481 which are past due as at the reporting date జѓ˚གྷಂ͊˹ሪಛᐼᕘމಥ࿆
for which the Council has not provided for impairment loss 2,495,481ʩd͟׵Ꮠϗሪಛٙڦ
as there has not been a significant change in credit quality of ͜೻ܓ͊೯͛ࠠɽᜊʷd˲༈ږᕘ
the accounts receivable and the amounts are still considered ʥ஗ൖމ̙ϗΫdΪϤ͉҅͊๟௪
recoverable. The Council does not hold any collateral over ಯ࠽ฦ̰f͉҅ʔఱ༈ഃഐቱܵϞ
these balances and no interest is charged on overdue accounts ΂Оתץۜd͵ʔఱགྷಂᏐϗሪಛ
receivable. ϗ՟лࢹf

144 Hong Kong Council for Accreditation of Academic and Vocational Qualifications
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