Reclassification of expenditure
Model Financial Statements: Te Motu Regional Economic Development Trust 2010/11
| NZ IAS 1.38 |
In previous years, advertising and marketing costs have been included in “other expenses” in the statement of comprehensive income. These costs are now shown separately on the face of the statement of comprehensive income. As a result, $369,351 of advertising and marketing costs have been reclassified from “other expenses” to “advertising and marketing costs” in the comparative information. |
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This change in presentation has been made to align the presentation of the financial statements with the Trust’s 2010/11 statement of intent budget figures and reflects the growing proportion of costs associated with advertising and marketing that the Trust incurs. |
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