✨ Financial Accounting Policies
628 NEW ZEALAND GAZETTE, No. 29 19 FEBRUARY 2008
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
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.
(h) Leased Assets
Operating Leases
Operating Lease payments are recognised as an expense in the period the amount is payable.
C. Changes in Accounting Policy
There have been no changes in accounting policies applied during the year under review.
Certain comparatives have been re-classified to ensure greater transparency and comparability between periods.
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Online Sources for this page:
VUW Te Waharoa —
NZ Gazette 2008, No 29
Gazette.govt.nz —
NZ Gazette 2008, No 29
✨ LLM interpretation of page content
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Financial Performance and Equity Movements of WEL Networks Limited
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🏭 Trade, Customs & IndustryExpenditure allocation, Bank balances, Fixed assets, Creditors, Leased assets, Accounting policies, WEL Networks Limited