✨ Accounting Policies
3266 NEW ZEALAND GAZETTE No. 101
SPECIFIC ACCOUNTING POLICIES - Line Business
(a) Depreciation
Fixed assets have been depreciated in order to write off cost less estimated residual value over their estimated useful life on the following basis:
| Distribution System | 4% SL |
| Buildings (revalued) | 2% SL |
| Plant and Equipment | 20% DV |
| Motor Vehicles | 20% DV |
| Computer Equipment | 25% DV |
Distribution system fixed assets have been depreciated for accounting purposes from the date on which they were commissioned by Tasman Energy.
(b) Capital Contributions from Customers
Capital contributions from customers are credited to deferred income and amortised over the economic life of the asset constructed.
(c) Inventories
The reticulation stock held for the purpose of supporting the existing distribution network is accounted for as a fixed asset.
(d) Term Liabilities
The term liabilities were valued in the accounts so as to present a market value as at 31 March 1993. The purpose of the valuation was to reflect the difference between the future contracted expense and a then current market interest rate of 8%. The valuation was independently established by Landcorp property limited, registered valuers, in their report dated 31 March 1993.
SPECIFIC ACCOUNTING POLICIES - Other Business
(a) Depreciation
Fixed assets have been depreciated in order to write off cost less estimated residual value over their estimated useful life on the following basis:
| Buildings (revalued) | 2% SL |
| Plant and Equipment | 20% DV |
| Motor Vehicles | 20% DV |
| Computer Equipment | 25% DV |
(b) Receivables
Hire purchase debtors exclude unearned interest. Total interest has been included at the time the contract was made and has been allocated over the term of the agreement using the rule of 78 method.
2. COMPARATIVE FIGURES
As this is the first year the regulations have been in affect comparative information has not been published.
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VUW Te Waharoa —
NZ Gazette 1995, No 101
NZLII —
NZ Gazette 1995, No 101
✨ LLM interpretation of page content
💰
Tasman Energy Limited Financial Statements
(continued from previous page)
💰 Finance & RevenueDepreciation, Capital Contributions, Inventories, Term Liabilities, Accounting Policies
💰
Tasman Energy Limited Financial Statements
(continued from previous page)
💰 Finance & RevenueDepreciation, Receivables, Accounting Policies
💰 Comparative Figures
💰 Finance & RevenueComparative Information, Financial Regulations