New Zealand Gazette – 1998 – No. 108

Page 2676

✨ Energy Business Accounting Policies



2676 NEW ZEALAND GAZETTE No. 108

CENTRAL ELECTRIC LIMITED

ENERGY BUSINESS STATEMENT OF ACCOUNTING POLICIES

FOR THE YEAR ENDED 31 MARCH 1998

GENERAL ACCOUNTING POLICIES

The general policies adopted in the preparation of these financial statements are:

  • Unless otherwise stated, the measurement base adopted is historical cost.

  • Reliance has been placed on the assumption that the Line Business is a going concern.

  • Revenues earned are matched with expenses incurred using accrual accounting.

SPECIAL PURPOSE FINANCIAL STATEMENTS

These financial statements have been prepared for the purpose of complying with the requirements of the Electricity (Information Disclosure) Regulations 1994.

The methodology for allocating costs, revenues, assets and liabilities between activities used in the preparation of these financial statements is that as set out in the Guidelines to the Regulations.

These financial statements relate to the Energy Business of Central Electric Limited and incorporate the retailing of electricity, the retailing of electrical appliances and the maintenance and installation of electrical appliances, fittings and associated equipment.

SPECIFIC ACCOUNTING POLICIES

Revenue

The revenue shown in the Profit and Loss Account includes the electricity unit consumption component of power sales, capital contributions, interest and miscellaneous and sundry income.

All revenue is directly attributable to the Energy Business except interest and other corporate income which is allocated on the basis of the relative net asset values.

Expenditure

The expenditure shown in the Profit and Loss Account is derived as follows:

  • Electricity purchases, operating costs, depreciation and other costs directly attributable to the Energy Business.

  • Overheads relating to Corporate Services are allocated on the basis of the relative net asset values.



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🏭 Central Electric Limited Accounting Policies

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Energy Business, Accounting Policies, Financial Statements, Revenue, Expenditure