✨ Financial Statements
26 NOVEMBER 2010 NEW ZEALAND GAZETTE, No. 158 3983
NGC HOLDINGS LIMITED
GAS WHOLESALING ACTIVITIES
STATEMENT OF ACCOUNTING POLICIES
FOR THE YEAR ENDED 30 JUNE 2010
SIGNIFICANT ACCOUNTING POLICIES (CONTINUED)
J) 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 statement of comprehensive income 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 AND INTERPRETATIONS NOT YET ADOPTED
Refer to the accounting policies in Vector Limited’s annual report for the year ended 30 June 2010 for detailed information.
APPROVAL OF FINANCIAL STATEMENTS
The financial information disclosure statements were approved by the board of directors on 15 November 2010.
Next Page →
NZ Gazette 2010, No 158
✨ LLM interpretation of page content
💰
Certification of Financial Statements for NGC Holdings Limited
(continued from previous page)
💰 Finance & Revenue15 November 2010
Financial Statements, Accounting Policies, Impairment, Non-financial Assets, Reversal of Impairment