✨ Financial Statements Notes
3264 NEW ZEALAND GAZETTE No. 101
TASMAN ENERGY LIMITED
NOTES TO THE FINANCIAL STATEMENTS
1. STATEMENT OF ACCOUNTING POLICIES
REPORTING ENTITY
These financial statements have been prepared for the purpose of complying with the requirements of the Electricity (Information Disclosure) Regulations 1994.
MEASUREMENT BASE
The financial statements have been prepared on the basis of historical cost with the exception of certain items for which specific accounting policies are disclosed. The assets and liabilities of Tasman Energy Limited were vested from the Tasman Electric Power Board on 1 May 1993 in accordance with the Establishment Plan approved by the Governor General by Order of Council on 26 April 1993.
SPECIFIC ACCOUNTING POLICIES - Both Line and Other Businesses
The following specific accounting policies which materially affect the measurement of financial performance and the financial position have been applied.
(a) Basis of Consolidation
The consolidated financial statements including those of the parent company and its subsidiaries are accounted for using the purchase method. All significant intercompany balances and profits and losses on transactions between group companies have been eliminated.
(b) Recognition of Revenue
Electricity meters are read on the basis of constant cycles each year. Sales of electricity include an estimated amount for accrued sales from meters unread as at 31 March 1995.
(c) Goods and Services Tax (GST)
The statement of financial performance has been prepared so that all components are stated exclusive of GST.
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VUW Te Waharoa —
NZ Gazette 1995, No 101
NZLII —
NZ Gazette 1995, No 101
✨ LLM interpretation of page content
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Tasman Energy Limited Financial Statements
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💰 Finance & RevenueAccounting Policies, Financial Performance, Consolidation, Revenue Recognition, GST