✨ Financial Statements Notes
TSB Community Trust
Notes to the Financial Statements
For the year ended 31 March 2012
- Statement of Accounting Policies (continued)
Improvements to NZ IFRSs
- NZ IFRS 7: Financial Instruments : Disclosures - Clarification of disclosures
- NZ IAS 1: Presentation of Financial Statements - Clarification of statement of changes in equity
- NZ IAS 34: Interim Financial Reporting - Significant events and transactions
- NZ IFRIC 13: Customer Loyalty Programmes - Fair value of award credit
None of these improvements have had any impact on the financial statements.
Standards and Interpretations Not Yet Adopted
The following new standards are not yet effective and have not been applied in the preparation of these financial statements. Adoption of these standards will not have any significant impact on the Trust’s reported profit or financial position.
- NZ IFRS 9: Financial Instruments - Effective 1 January 2015
- NZ IFRS 10: Consolidated Financial Statements - Effective 1 January 2013
- NZ IAS 27: Separate Financial Statements (revised 2011) - Effective 1 January 2013
- NZ IAS 28: Investments in Associates and Joint Ventures (revised 2011) - Effective 1 January 2013
- NZ IFRS 12: Disclosure of Interests in Other Entities - Effective 1 January 2013
- NZ IFRS 13: Fair Value Measurement - Effective 1 January 2013
- NZ IAS 19: Employee Benefits (revised 2011) - Effective 1 January 2013
- NZ IAS 12: Income Taxes – Deferred Tax: Recovery of Underlying Assets - Effective 1 January 2012
- FRS-43: Amendments to Summary Financial Statements - Effective 1 January 2012
- NZ IAS 1: Amendments to Presentation of Financial Statements – Presentation of Items of Other Comprehensive Income - Effective 1 July 2012
Basis of Preparation
The financial statements are prepared on the historical cost basis. The accounting policies are selected and applied in a manner which ensures that the resulting financial information satisfies the concepts of relevance and reliability, thereby ensuring that the substance of the underlying transaction or other events is reported.
Presentation Currency and Rounding
The financial statements are presented in New Zealand dollars and are rounded to the nearest whole dollar.
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NZ Gazette 2012, No 75
✨ LLM interpretation of page content
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TSB Community Trust Financial Statements
(continued from previous page)
💰 Finance & Revenue12 June 2012
Financial statements, TSB Community Trust, Community Trusts Act 1999, Income, Expenditure, Cash Flow, Accounting Policies, NZ GAAP, NZ IFRS