for the year ended 30 June 2011^3,4,5,6

Model Financial Statements: Crown Service Enterprise 2010-11

3: Alternatively, a statement displaying components of the surplus/deficit (a statement of financial performance) directly followed by a second statement beginning with surplus/deficit and displaying components of other comprehensive income (a statement of comprehensive income) can be presented.

4: NZ IAS 1.87 prohibits any items of income or expense being presented as extraordinary items either in the statement of comprehensive income or in the notes.

5: Where there are discontinued operations, NZ IAS 1.82(e) requires disclosure of the total post-tax surplus or deficit of discontinued operations and the post-tax gain or loss recognised on the measurement to fair value less costs to sell on the disposal of the assets or disposal group(s) constituting the discontinued operation.

6: The statement of comprehensive income has been prepared using the nature of expense classification. Alternatively, entities may choose to present expenses based on the function of expense. Refer to NZ IAS 1.103, NZ 103.1.

7: NZ IAS 1 NZ 46.1 requires an entity that has published prospective financial information (for example, forecast financial information published in a statement of intent), other than that expressed solely in general terms, to present a comparison of the prospective financial information with the actual financial results. Explanations for major variances shall be given.

8: Section 154(3)(c) of the CEA requires the financial statements to “include the forecast financial statements prepared at the start of the financial year, for comparison with the actual financial statements”.

9: NZ IAS 1.38 requires comparative information to be disclosed in respect of the previous year for all amounts reported in the financial statements. Comparative information shall also be included for narrative information when it is relevant to an understanding of the current year’s financial statements.