New Zealand Gazette – 1996 – No. 165

Page 4333

✨ Financial Accounting Policies



12 NOVEMBER NEW ZEALAND GAZETTE 4333

WEL ENERGY GROUP LIMITED

Inventory / Work in Progress

Inventory / work in progress attributable to both the line or energy business and other activities have been allocated to the line and energy business in proportion to the level of direct expenditure incurred by the line or energy business.

Fixed Assets

Fixed assets used by both the line or energy business and another activity have been allocated to the line or energy business in proportion to the level of use of those assets (where this is not known the level of expenditure is used as a proxy).

Creditors

Creditors not directly attributable to the line or energy business have been allocated in proportion to the expenditure allocation as noted above.

Provision for Annual and Long Service Leave

The amount of the provision attributable to employees working on both the line or energy business and other activities has been allocated to the line or energy business in proportion to wages expenditure.

Except for line losses, where a departure has occurred for the reason explained in note 2, the Directors consider the principles outlined above are in accordance with the methodologies set out in the Electricity Disclosure Guidelines.

C. Changes in Accounting Policy

There have been no changes in accounting policies during the year.



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✨ LLM interpretation of page content

🏭 Statement of Accounting Policies for WEL Energy Group Limited (continued from previous page)

🏭 Trade, Customs & Industry
Accounting Policies, Financial Statements, Depreciation, Fixed Assets, Line and Energy Business Split, Cost Allocation, Revenue Allocation, WEL Energy Group