✨ Accounting Policies Statement
26 AUGUST 2005 NEW ZEALAND GAZETTE, No. 143 3493
Unison Networks Limited – Lines Business
Statement of Significant Accounting Policies
For the year ended 31 March 2005
l. Goodwill Arising on Acquisition
Goodwill arising on acquisition of subsidiaries/businesses/assets is amortised on a straight-line basis over the period of expected benefit or 20 years, whichever is the lesser. Goodwill is tested annually for impairment.
m. Borrowings
Borrowings are stated at face value less unamortised discounts, premiums and prepaid interest. Discounts, premiums and prepaid interest are amortised to interest expenses on a yield to maturity basis over the period of the borrowing.
n. Goods and Services Tax
The financial statements have been prepared with revenue and expense items exclusive of GST. In the statement of financial position, accounts receivable and accounts payable are inclusive of GST. All other assets and liabilities are exclusive of GST.
o. 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 assets.
Changes in Accounting Policies
There have been no changes to accounting policies.
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Online Sources for this page:
VUW Te Waharoa —
NZ Gazette 2005, No 143
Gazette.govt.nz —
NZ Gazette 2005, No 143
✨ LLM interpretation of page content
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Unison Networks Limited - Statement of Significant Accounting Policies
(continued from previous page)
🏭 Trade, Customs & IndustryAccounting policies, Financial reporting, Goodwill, Borrowings, GST, Operating leases