✨ Financial Statements
1720 NEW ZEALAND GAZETTE No. 63
Interest rate risk
Short-term investments mature within the range of on-call to 180 days. The interest rates on these investments range from 5.75% to 5.86%.
(f) Impairment
Where the estimated recoverable amount of an asset is less than the carrying amount, the asset is written down. The impairment loss is recognised in the statement of financial performance.
(g) Cash and cash equivalents
For the purpose of the statement of cash flows, cash includes cash on hand, deposits held at call with banks and investments in money market instruments.
(h) Employee entitlements
A provision for employee entitlements is recognised as a liability in respect of benefits earned by employees but not yet received at balance date. Employee benefits include annual leave and long service leave. The provision is the estimated amount expected to be paid out by the company.
(i) Operating leases
Payments made under operating leases are recognised in the statement of financial performance on a basis representative of the pattern of benefits expected to be derived from the leased asset.
(j) Changes in accounting policies
Uniform accounting policies have been applied on a consistent basis with those of the previous year.
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Online Sources for this page:
VUW Te Waharoa —
NZ Gazette 2003, No 63
Gazette.govt.nz —
NZ Gazette 2003, No 63
✨ LLM interpretation of page content
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Network Tasman Limited Line Business Financial Statements
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🏭 Trade, Customs & Industry30 May 2003
Financial Statements, Accounting Policies, Asset Management, Depreciation, Revaluation, Interest Rate Risk, Impairment, Cash Equivalents, Employee Entitlements, Operating Leases