IGO Interactive Annual Report 2018

Notes to the consolidated financial statements 30 June 2018 (continued) 10 Financial assets at fair value through profit or loss 2018 $'000 2017 $'000 Shares in Australian listed companies - at fair value through profit or loss 24,294 15,348 24,294 15,348 (a) Amounts recognised in profit or loss During the current year, the changes in fair values of financial assets resulted in a gain to the profit or loss of $231,000 (2017: $4,343,000). Changes in fair values of financial assets at fair value through profit or loss are recorded in fair value movement of financial investments in the profit or loss. (b) Recognition and measurement The Group classifies financial assets at fair value through profit or loss if they are acquired principally for the purpose of selling in the short term, ie are held for trading. They are presented as current assets if they are expected to be sold within 12 months after the end of the reporting period; otherwise they are presented as non-current assets. 11 Trade and other payables 2018 $'000 2017 $'000 Current liabilities Trade payables 14,447 6,401 Other payables 42,139 42,651 56,586 49,052 (a) Recognition and measurement These amounts represent liabilities for goods and services provided to the Group prior to the end of financial year which are unpaid. The amounts are unsecured and are usually paid within 30 days of recognition. Trade and other payables are presented as current liabilities unless payment is not due within 12 months from the reporting date. They are recognised initially at their fair value and subsequently measured at amortised cost using the effective interest method. 12 Provisions 2018 $'000 2017 $'000 Current Provision for employee entitlements 4,322 7,647 Provision for restructuring costs 572 6,374 Provision for rehabilitation costs - 1,238 4,894 15,259 Independence Group NL 21 IGO ANNUAL REPORT 2018— 85 NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS 30 JUNE 2018