✨ Financial Statements Notes
28 SEPTEMBER 2011
NEW ZEALAND GAZETTE, No. 146
4165
THE COMMUNITY TRUST OF SOUTHLAND
NOTES TO & FORMING PART OF THE FINANCIAL STATEMENTS
For the Year Ended 31 March, 2011
k) Statement of Cash Flows
For the purpose of the statement of cash flows, cash and cash equivalents include cash on hand and in banks and invested in money market instruments, net of outstanding bank overdrafts. The following terms are used in the statement of cash flows;
-
operating activities are the principal revenue producing activities of the Group and other activities that are not investing or financing activities;
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investing activities are the acquisition and disposal of long term assets and other investments not included in cash equivalents; and
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financing activities are activities that result in changes in the size and composition of the contributed equity and borrowings of the entity
l) Standards and Interpretation Effective in the Current Period
There was no changes in accounting policy in the current period.
m) Standards and Interpretations in Issue Not Yet Adopted
At the date of the financial report, a number of standards and interpretations were in issue but not yet effective. The following are the new or revised Standard or Interpretations in issue that impact the entity and are not yet required to be adopted for periods ending on 31 March 2011:
| Standard/Interpretation | Effective for annual reporting periods beginning on or after | Expected to be initially applied in the financial year ending |
|---|---|---|
| NZ IFRS 9 \'Financial Instruments\' | 1 January 2013 | 31 March 2014 |
| *Revised NZ IFRS 9 \'Financial Instruments\' | 1 January 2013 | 31 March 2014 |
*the revised NZ IFRS 9 adds guidance on the classification and measurement of financial liabilities and derecognition of financial instruments. The effective date remains the same as the previous version of NZ IFRS 9, with earlier adoption permitted.
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NZ Gazette 2011, No 146
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Financial Statements of the Community Trust of Southland
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💰 Finance & Revenue24 August 2011
Financial Statements, Community Trust, Southland, Cash Flows, Accounting Standards