✨ Financial Statements Accounting Policies
16 SEPTEMBER NEW ZEALAND GAZETTE 3551
SPECIFIC ACCOUNTING POLICIES – LINE BUSINESS
(a) Depreciation
Fixed assets have been depreciated in order to write off cost less estimated residual value over their estimated useful life on the following basis:
| Distribution System | depreciated based on assessed residual life |
| Buildings (revalued) | 2% SL |
| Plant and Equipment | 20% DV |
| Motor Vehicles | 20% DV |
| Computer Equipment | 48% DV |
(b) Capital Contributions from Customers
Capital contributions from customers are credited to the Statement of Financial Performance.
(c) Term Liabilities
The term liabilities were valued in the accounts so as to present a market value as at 31 March 1993. The purpose of the valuation was to reflect the difference between the future contracted expense and a then current market interest rate of 8%. The valuation was independently established by Landcorp Property limited, registered valuers, in their report dated 31 March 1993.
SPECIFIC ACCOUNTING POLICIES – OTHER BUSINESS
(a) Depreciation
Fixed assets have been depreciated in order to write off cost less estimated residual value over their estimated useful life on the following basis:
| Buildings (revalued) | 2% SL |
| Plant and Equipment | 20% DV |
| Motor Vehicles | 20% DV |
| Computer Equipment | 48% DV |
(b) Receivables
Hire purchase debtors exclude unearned interest. Total interest has been included at the time the contract was made and has been allocated over the term of the agreement using the rule of 78 method.
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VUW Te Waharoa —
NZ Gazette 1998, No 147
NZLII —
NZ Gazette 1998, No 147
✨ LLM interpretation of page content
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Tasman Energy Limited Financial Statements
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🏭 Trade, Customs & Industry11 August 1998
Financial Statements, Accounting Policies, Deferred Taxation, Depreciation Rates, Distribution Assets, Liability Method, Taxation Expense, ODV Valuation