b"EQUESTRIAN AUSTRALIA LIMITED ABN 19 077 455 755NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 20191.STATEMENT OF SIGNIFICANT ACCOUNTING POLICIES (continued)Where an impairment loss on a revalued asset is identified, this is recognised against the revaluation surplus in respect of the same class of asset to the extent that the impairment loss does not exceed the amount in the revaluation surplus for that class of asset.(i) Employee ProvisionsShort-term employee benefitsProvision is made for the Company's obligation for short-term employee benefits. Short-term employee benefits are benefits (other than termination benefits) that are expected to be settled wholly before 12 months after the end of the annual reporting period in which the employeesrender the related service, including wages, salaries and sick leave. Short-term employee benefits are measured at the (undiscounted) amounts expected to be paid when the obligation is settled.The Company's obligations for short-term employee benefits such as wages, salaries and sick leave are recognised as part of current accounts payable and other payables in the statement of financial position.Other long-term employee benefitsProvision is made for employees' annual leave entitlements not expected to be settled wholly within 12 months after the end of the annual reporting period in which the employees rendered the related service. Other long-term employee benefits are measured at the present value of theexpectedfuturepaymentstobemadetoemployees.Expectedfuturepayments incorporate anticipated future wage and salary levels, durations of service and employee departures, and are discounted at rates determined by reference to market yields at the end ofthereportingperiodonhighqualitycorporatebondsthathavematuritydatesthat approximate the terms of the obligations.(j) Cash and Cash EquivalentsCash and cash equivalents include cash on hand, deposits held at-call with banks, other short-term highly liquid investments with originalmaturities of three months or less, and bank overdrafts.(k) Accounts Receivable and Other DebtorsAccountsreceivableandotherdebtorsincludeamountsduefrommembersaswellas amounts receivable from customers for services provided in the ordinary course of business. Receivables expected to be collected within 12 months of the end of the reporting period are classified as current assets. All other receivables are classified as non-current assets. \x03\x0360"