✨ Financial Statements and Accounting Policies
30 NOVEMBER 2009 NEW ZEALAND GAZETTE, No. 173 4215
VECTOR LIMITED & SUBSIDIARIES
GAS DISTRIBUTION ACTIVITIES
STATEMENT OF ACCOUNTING POLICIES (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2009
SIGNIFICANT ACCOUNTING POLICIES (CONTINUED)
N) IMPAIRMENT (CONTINUED)
Impairment of non-financial assets (continued)
Impairment losses recognised in prior periods are assessed at each balance date for any indications that the loss has decreased or no longer exists. An impairment loss may be reversed if there has been a change in the estimates used to determine the recoverable amount. An impairment loss is reversed to the income statement only to the extent that the asset’s carrying amount does not exceed the carrying amount that would have been determined, net of depreciation and amortisation, if no impairment loss had been recognised.
NEW STANDARDS EARLY-ADOPTED
Refer to the accounting policies within Vector Limited’s annual report for the year ended 30 June 2009 for detailed information.
APPROVAL OF FINANCIAL STATEMENTS
The financial statements were approved by the board of directors on 23 November 2009.
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NZ Gazette 2009, No 173
✨ LLM interpretation of page content
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Certification of Financial Statements and Performance Measures for Gas Distribution
(continued from previous page)
🏭 Trade, Customs & Industry23 November 2009
Financial statements, Performance measures, Gas distribution, Vector Limited, Accounting policies, Impairment, Non-financial assets, Recoverable amount, Income statement