✨ Financial Statements
16 AUGUST NEW ZEALAND GAZETTE 2821
b) Investing activities are those activities relating to the acquisition, holding and disposal of fixed assets and investments. Investments can include securities not falling within the definition of cash.
c) Financing activities are those activities that result in changes in the size and composition of the capital structure. Dividends paid in relation to the capital structure are included in financing activities.
d) Operating activities include all transactions and other events that are not investing or financing activities.
Financial Instruments
Counties Power Limited had no financial instruments with off-balance sheet risk during or at the end of the year (2001 Nil).
CHANGES IN ACCOUNTING POLICY
The Line Business has changed the method of accounting for deferred taxation from the comprehensive method to the partial method as it is considered unlikely that the majority of timing differences will reverse in future, and accordingly an income tax liability is not expected to crystallise. The effect of this change is a write back to the taxation expense of $2,398,000 for deferred taxation liability provided in previous years, and reversal of a deferred taxation liability of $7,251,000 relating to the revaluation of fixed assets at 31 March 2001.
There have been no other changes in accounting policies.
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Online Sources for this page:
VUW Te Waharoa —
NZ Gazette 2002, No 104
Gazette.govt.nz —
NZ Gazette 2002, No 104
✨ LLM interpretation of page content
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Counties Power Limited Statement of Accounting Policies
(continued from previous page)
🏭 Trade, Customs & Industry2 August 2002
Electricity, Financial Statements, Accounting Policies, Depreciation, Taxation, Cash Flows