New Zealand Gazette – 2002 – No. 118

Page 3167

✨ Financial Statements Expenditure Details



26 AUGUST NEW ZEALAND GAZETTE 3167

WEL NETWORKS LIMITED

Expenditure

Where a segment of the Group performs line activities in addition to other functions each item of expenditure incurred by that segment has been allocated to the line business in proportion to the total level of line business activity undertaken by the segment. This has been achieved using the following methodologies:

  • Customer services/billing 10% Lines Revenue
  • Marketing Revenue

Bank Balances

Cash and bank balances have been allocated based on cash movements as per the cash flow statement.

Fixed Assets

Fixed assets used by both the line and another activity have been allocated to the line business on the following basis:

  • Motor vehicles Weighted staff numbers
  • Plant, Furniture and equipment Weighted staff numbers

Items have been weighted by multiplying the value attributable to Other by 33%

Creditors

Creditors not directly attributable to the line business have been allocated in proportion to the expenditure allocation as noted above.

Provision for Annual and Long Service Leave

The amount of the provision attributable to employees working on both the line business and other activities has been allocated to the line business in proportion to wages expenditure.

C. Changes in Accounting Policy

There have been no changes in accounting policies applied during the period under review.



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Online Sources for this page:

VUW Te Waharoa — PDF NZ Gazette 2002, No 118


Gazette.govt.nz — PDF NZ Gazette 2002, No 118




✨ LLM interpretation of page content

🏭 WEL Networks Limited Statement of Accounting Policies (continued from previous page)

🏭 Trade, Customs & Industry
Accounting Policies, Financial Statements, Fixed Assets, Depreciation, Line Business Split, Corporate Overheads, Property Costs