✨ Financial Statements Notes
3262
NEW ZEALAND GAZETTE
No. 122
2.5 NOTES TO AND FORMING PART OF THE FINANCIAL STATEMENTS (continued)
Inventory
Inventory is stated at the lower of cost and net realisable value. In arriving at net realisable value an allowance is made for deterioration and obsolescence.
Revenue recognition
Income from line charges includes an estimated amount for accrued sales for charges not billed at balance date.
Distributions from UnitedNetworks Shareholders Society Inc (UNSS)
As with 2001, the distributions received from UNSS are treated as a distribution from a trust, being a return of dividends previously paid to the trust, of which the company is the beneficiary. Under the avoidable cost allocation methodology these distributions have been identified as dividends and allocated to the Other Business.
Statement of cash flows
The following are the definitions of the terms used in the statement of cash flows:
- Operating activities include all transactions and other events that are not investing or financing activities.
- Investing activities are those activities relating to the acquisition, holding and disposal of property, plant and equipment and investments that can include securities not falling within the definition of cash.
- Financing activities are those that result in changes in the size and composition of the capital structure. This includes both equity and debt not falling within the definition of cash. Dividends paid in relation to the capital structure are included in financing activations.
- Cash is considered to be cash on hand and current accounts in banks, net of bank overdrafts.
Changes in accounting policies
There were no changes in accounting policies during the period.
| 2002 ($000) | 2001 ($000) | |
|---|---|---|
| OPERATING REVENUE | ||
| Revenue from line/access charges | 363,833 | 360,588 |
| Interest on cash, bank balances, and short-term investments | 922 | 362 |
| AC loss-rental rebates | 20,787 | 15,892 |
| Other operating revenue not listed above | 11,200 | 12,270 |
| Total operating revenue | 396,742 | 389,112 |
Next Page →
Online Sources for this page:
VUW Te Waharoa —
NZ Gazette 2002, No 122
Gazette.govt.nz —
NZ Gazette 2002, No 122
✨ LLM interpretation of page content
💰
Notes to Financial Statements for the year ended 31 March 2002
(continued from previous page)
💰 Finance & RevenueFinancial Statements, Inventory, Revenue Recognition, Distributions, Cash Flows, Accounting Policies