Notes to the financial statements |

Other impaired receivables have been determined to be impaired because of the significant financial difficulties being experienced by the debtor.

Movements in the allowance for credit losses are as follows: policy

Te Wānanga o Aotearoa holds no collateral as security as other credit enhancements over receivables that are either past due or impaired.

Inventories held for distribution or consumption in the provision of services that are not issued on a commercial basis are measured at the cost, adjusted for any loss of service potential.

› Inventories acquired through non-exchange transactions are measured at fair value at the date of acquisition.

› Inventories held for use in the provision of goods and services on a commercial basis are valued at the lower of cost and net realisable value.

The cost of purchased inventory is determined as follows:

› Inventories held for resale - purchase cost is on a weighted average cost

› Materials and consumables to be utilised for rendering of services - purchase cost is on a first-in, first-out basis.

The amount of any write-down for the loss of service potential or from cost to net realisable value is recognised in the surplus/(deficit) in the period of the write-down.