Table:
|  | 30 June 2019 | 30 June 2018 |
| --- | --- | --- |
|  | $'000 | $'000 |
| Trade payables | 44,840 | 27,640 |
| Accrued capital expenditure | 5,841 | 1,767 |
| Accrued expenses | 2,848 | 2,114 |
| Other creditors | 3,117 | 2,888 |
| Total trade and other payables | 56,646 | 34,409 |
Paragraphs:
7 Trade and other payables
(i) Recognition and measurement
Trade and other payables, including accruals, are recorded when the Group is required to make future payments as a result of purchases of assets or services provided to the Group prior to the end of financial period. 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.
(ii) Fair values of trade and other payables
Due to the short-term nature of trade and other payables, their carrying amount is considered to be the same as their fair value.
(iii) Risk Exposure
As the majority of payables are in Australian dollars, management does not believe there are any significant risks in relation to these financial liabilities. Refer to note 15 for details of the Group’s financial risk management policies.
Question:
How was trade payables recognised and measured?
Answer: recognised initially at their fair value and subsequently measured at amortised cost using the effective interest method.