New Zealand Gazette – 1998 – No. 133

Page 3242

✨ Financial Disclosure Methodologies



3242 NEW ZEALAND GAZETTE No. 133

d) Accounts Receivable

Receivables are shown at net realisable value. All known bad debts have been written off during the year and an estimate for doubtful debts has been made.

e) Inventories

Inventories are valued at the lower of cost, determined on a weighted average cost basis, and net realisable value.

f) Goods and Services Tax (GST)

These financial statements have been prepared exclusive of GST with the exception of debtors and creditors which are shown inclusive of GST.

g) Allocation Methodologies

Allocation of costs, revenues, assets and liabilities have been based on the following methods:-

Direct Allocation

All costs, revenues, assets and liabilities that are identifiable to the line business have been allocated. This allocation method is consistent with the Electricity Disclosure Guidelines.

Indirect Allocation

All costs, revenues, assets and liabilities that are not separately identifiable to the line business have been allocated on the following basis:-

  • % of Staff Employed.

    • Components allocated on this basis are personnel costs.

  • % of Total Assets Employed

    • Components allocated on this basis include indirect administration costs, assets and liabilities and corporate management costs.

  • % of Net Income Before Taxation

    • Components allocated on this basis are interest revenue, sundry revenue, and interest expense.

  • % of Gross Income

    • Components allocated on this basis are bank charges.

  • % of Actual Resource Provided

    • Components allocated on this basis include administration costs and information system resources.

These indirect allocation methods depart from the methodologies detailed in the Electricity Disclosure Guidelines.



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✨ LLM interpretation of page content

🏭 Electricity Information Disclosure for Ashburton Limited (continued from previous page)

🏭 Trade, Customs & Industry
10 August 1998
Electricity, Financial Statements, Audit, Ashburton Limited