Wellcom_FY11-Financial-Report

59 wellcom group limited notes to the consolidated

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Unformatted text preview: ,511,614 (2010: $1,343,657). 59 Wellcom Group Limited Notes to the Consolidated Financial Statements 24. Financial risk management and instruments For personal use only a) Significant accounting policies Details of the significant accounting policies and methods adopted, including the criteria for recognition, the basis of measurement and the basis on which income and expenses are recognised, in respect of each class financial asset, financial liability and equity instrument are disclosed in note 2 of the financial statements. b) Financial risk management The Group has exposure to the following risks from its use of financial instruments: • • • Credit risk Liquidity risk Market risk. This note presents information about the Group’s exposure to each of the above risks, its objectives, policies and processes for measuring and managing risk. Quantitative disclosures are also included in this note. The board of directors has overall responsibility for the establishment and oversight o...
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This document was uploaded on 02/06/2014.

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