✨ Group Accounting Principles
25 AUGUST
NEW ZEALAND GAZETTE
2961
GROUP ACCOUNTING PRINCIPLES
Subsidiaries
Subsidiaries are those entities in which the parent company holds a controlling interest in the equity. Subsidiaries are consolidated under the purchase method on a line by line basis. All inter-company transactions, balances and unrealised surpluses and deficits on transactions between group members have been eliminated.
Joint Venture
The subsidiary company’s interest in the Mangahao Joint Venture has been accounted for in the balance sheet on the basis of that company’s proportionate interest in each of the assets and liabilities of the joint venture, and in the profit and loss account on the basis of the company’s proportionate interest in the net expenses incurred by that company in relation to the joint venture.
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VUW Te Waharoa —
NZ Gazette 1998, No 123
NZLII —
NZ Gazette 1998, No 123
✨ LLM interpretation of page content
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King Country Energy Limited Financial Performance
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🏭 Trade, Customs & IndustrySubsidiaries, Consolidation, Purchase Method, Inter-company Transactions, Balances, Surpluses, Deficits, Joint Venture, Mangahao Joint Venture, Balance Sheet, Profit and Loss Account, Proportionate Interest