✨ Financial Accounting Policies
2514 NEW ZEALAND GAZETTE No. 96
(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.
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VUW Te Waharoa —
NZ Gazette 1996, No 96
NZLII —
NZ Gazette 1996, No 96
✨ LLM interpretation of page content
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Tasman Energy Limited Financial Performance
(continued from previous page)
💰 Finance & RevenueTerm Liabilities, Market Value, Interest Rate, Depreciation, Fixed Assets, Hire Purchase Debtors, Rule of 78
- Landcorp Property Limited, Registered Valuers