✨ Financial Statements
22 AUGUST NEW ZEALAND GAZETTE 2355
Cash and short term investments are placed with high credit quality financial institutions and limits are applied to the amount of credit exposure to any one financial institution.
Trade receivables credit risk is limited due to the large number of customers included in the company’s customer base.
(m) Generation Development Expenditure
Exploration, evaluation and development costs that relate to specific generation prospects are recognised as assets to the extent that such costs are expected to be recouped through successful development and generation of electricity. Costs will ultimately be amortised over the estimated economic life of a project.
Directors review the status of development expenditure on an annual basis and in the event that a project is abandoned, or if the directors consider the expenditure to be of no value accumulated costs are written off in the year in which that assessment is made.
(n) Employee Entitlements
Employee entitlements to salaries and wages, non-monetary benefits, annual leave, long service leave and other benefits are recognised when they accrue to employees. This includes the estimated liability for salaries and wages, annual leave and long service leave as a result of services rendered by employees up to balance date.
(o) Changes in Accounting Policies
As described in note 1(d) there has been a change in the accounting policy adopted for fixed assets. There have been no other changes in accounting policies.
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VUW Te Waharoa —
NZ Gazette 1997, No 100
NZLII —
NZ Gazette 1997, No 100
✨ LLM interpretation of page content
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TrustPower Limited Financial Position Statements
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🏭 Trade, Customs & Industry1 August 1997
Financial Statements, Accounting Policies, Investments, Revenue Recognition, Income Tax, Receivables, Inventories, Work in Progress, Foreign Currencies, Financial Instruments, Interest Rate Risk, Electricity Price Risk, Credit Risk, Collateral, Concentration of Credit Risk