✨ Financial Accounting Policies
2824 NEW ZEALAND GAZETTE No. 115
WEL ENERGY GROUP LIMITED
Electricity Debtors
Electricity debtors have been allocated to the line and energy businesses consistent with the proportion of line or energy revenue to total line and energy revenue.
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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VUW Te Waharoa —
NZ Gazette 1998, No 115
NZLII —
NZ Gazette 1998, No 115
✨ LLM interpretation of page content
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Statement of Financial Performance and Financial Position by WEL Energy Group Limited
(continued from previous page)
🏭 Trade, Customs & Industry9 July 1998
Electricity, Financial Performance, Financial Position, Revenue, Expenses, Profit, Assets, Liabilities, WEL Energy Group