✨ Financial Statements Notes




NEW ZEALAND GAZETTE

No. 138

TAURANGA ELECTRICITY LIMITED

h) Inventories

Inventories are stated at the lower of weighted average cost, determined on a first-in first-out basis and net realisable value.

Cost of work in progress and finished goods includes the cost of direct material, direct labour and a proportion of the manufacturing overhead based on the normal capacity of the facilities, expended in putting the inventories in their present location and condition.

i) Changes in Accounting Policies

There have been no changes in accounting policies. All policies have been applied on bases consistent with those used in the previous year.

The accompanying Statement of Accounting Policies and Notes form part of and are to be read in conjunction with these Financial Statements. The Financial Statements have been prepared solely for the purpose of complying with Regulations 6[2] and 6[3] of the Electricity [Information Disclosure] Regulations 1994 and are not intended for any other purpose.

[A:DR96]



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🏭 Certification of Financial Statements and Performance Measures by Tauranga Electricity Limited (continued from previous page)

🏭 Trade, Customs & Industry
7 August 1996
Electricity, Financial Statements, Performance Measures, Certification, Tauranga