Note 5
Other expenses14
Model Financial Statements: Te Motu Regional Economic Development Trust 2010/11
| NZ IAS 1.112(c) | Actual 2011 |
Actual 2010 |
|
|---|---|---|---|
| NZ IAS 1 NZ 105.1(a)(i) |
Audit fees for financial statement audit |
20,500 | 15,000 |
| NZ IAS 1 NZ 105.1(a)(ii) | Audit-related fees for assurance services15 | 4,500 | 4,200 |
| NZ IAS 1 NZ 105.2 | Donations16 | 1,000 | 1,000 |
| NZ IFRS 7.20(e) | Impairment of receivables | 24,901 | 42,832 |
| NZ IAS 38.126 | Website development expenses | 1,620 | 1,879 |
| Other expenses | 56,434 | 45,836 | |
| Total other expenses | 108,955 | 110,747 | |
| NZ IAS 1 NZ 105.1(a)(ii) | Audit-related fees were for an assurance engagement over the Trust’s compliance with FBT and GST requirements. | ||
14: NZ IAS 1.97 requires that, when items of expense and income are material, their nature and amount shall be disclosed separately.
15: NZ IAS 1 NZ 105.1 requires the nature of the services to be disclosed for assurance and related services, tax services, and all other non-audit services provided by the auditor.
16: In the context of reporting by a Trust, donations are interpreted as per their common usage (that is, discretionary charitable gifts), and should exclude any grants made in terms of a Trust’s normal funding programme that seek to achieve the objectives of the Trust.
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