Other financial assets (TALC 45)
A1A.332.
Other financial assets (TALC 45) is further classified into:
- provisions for employee entitlements other than superannuation (TALC 451);
- accounts receivable (TALC 452); and
- other financial assets not elsewhere classified (TALC 459).
Provisions for employee entitlements other than superannuation (TALC 451)
A1A.333.
Provisions for employee entitlements other than superannuation (TALC 451) consists of funds set aside by an institutional unit to cover employee entitlements other than superannuation. In Australian GFS, only the net liability position for provisions for employee entitlements other than superannuation (TALC 551) is shown as any related financial assets have been netted off. This asset category is maintained to align with the international standards and will report a zero balance until specifically earmarked assets can be reported by data providers.
Accounts receivable (TALC 452)
A1A.334.
Accounts receivable (TALC 452) consists of trade credit, advances and miscellaneous other items due to be received. Accounts receivable are recorded at nominal value.
Includes: Accounts receivable; trade credit extended directly to purchasers of goods and services; advances for work that is in progress or to be undertaken, such as progress payments made during construction in advance for work being done or for prepayments of goods and services; accrued but unpaid taxes; dividends; purchases and sales of securities; rent; wages and salaries; social contributions; social benefits; payments due under financial derivative contracts that are in arrears; payments of amounts that have not yet accrued such as prepayments of taxes; deposits payable in advance to cover breakages or non-payment for the use of goods and services; and bail deposits.
Excludes: Loans (classified to loans and placements (TALC 43)), debt securities (classified to debt securities (TALC 421)); and promissory notes or another type of security issued to consolidate the payment due on several trade credits (classified to debt securities (TALC 421)); deposits held by court or tax authorities pending resolution of a dispute (classified to cash and deposits (TALC 411)).
Other financial assets not elsewhere classified (TALC 459)
A1A.335.
Other financial assets not elsewhere classified (TALC 459) consists of financial assets that cannot be classified to currency and deposits (TALC 41), securities and related assets (TALC 42), loans and placements (TALC 43), insurance, superannuation and standardised guarantee schemes (TALC 44), provisions for employee entitlements other than superannuation (TALC 451) or accounts receivable (TALC 452).