Note 15
Employee entitlements
Model Financial Statements: Te Motu Regional Economic Development Trust 2010/11
| NZ IAS 1.77 | Actual 2011 |
Actual 2010 |
|
|---|---|---|---|
| Current portion | |||
| Accrued salaries and wages | 2,300 | 2,100 | |
| Annual leave | 11,450 | 10,150 | |
| Sick leave | 3,150 | 2,830 | |
| Long service leave and retirement gratuities | 1,370 | 1,107 | |
| Total current portion | 18,270 | 16,187 | |
| Non-current portion | |||
| Long service leave and retirement gratuities | 9,130 | 8,093 | |
| Total non-current portion | 9,130 | 8,093 | |
| Total employee entitlements | 27,400 | 24,280 | |
| A weighted average discount rate of 5.8% (2010 7.4%) and an inflation factor of 1.7% (2010 2.7%) were used in calculating the long service leave and retirement gratuity liabilities. | |||
