Notes to the financial statements | For the year

ended 31 December 2022

7. Tauira and other receivables (continued)

(a) Fair value

Other receivables are non-interest bearing and receipt is normally on short term of 30 day terms. Therefore the carrying value of other receivables approximates their fair value.

Tauira receivables are non-interest bearing and receipt is normally on enrolment and no later than graduation. Therefore the carrying value of tauira receivables approximates their fair value.

(b) Impairment

The carrying amount of receivables that would otherwise be past due or impaired and whose terms have been renegotiated is nil (2021: nil).

All receivables greater than 30 days in age are considered to be past due.

The impairment provision has been calculated based on expected losses for Te Wānanga o Aotearoa and the pool of receivables.

Expected losses have been determined based on an analysis of losses for Te Wānanga o Aotearoa in previous periods and a review of specific receivables.