✨ Corporate Accounting Changes
8 SEPTEMBER NEW ZEALAND GAZETTE 3147
Northpower has changed its policy on valuing its distribution system. These assets are now valued at Optimised Deprival Value. Previously they were valued at historical cost. The revaluation has resulted in an increase in fixed assets of $68.744 million. The revaluation has been credited to the revaluation reserve.
The company has changed the method of accounting for deferred taxation from the comprehensive method to the partial method. The effect of this is a write back to the taxation expense of $3,276,000 for deferred taxation liability provided in previous years.
There have been no other changes in accounting policies. The policies have been applied on a basis consistent with previous years.
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Online Sources for this page:
VUW Te Waharoa —
NZ Gazette 2000, No 124
Gazette.govt.nz —
NZ Gazette 2000, No 124
✨ LLM interpretation of page content
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Northpower Limited Information Disclosure
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🌾 Primary Industries & Resources30 August 2000
Electricity, Information Disclosure, Regulations, Northpower Limited, Financial Statements, Performance Measures, Accounting Policies, Asset Valuation, Deferred Taxation