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Schedule of non-departmental contingent liabilities and contingent assets as at 30 June 2008

Schedule of Non-departmental Contingent Liabilities and Contingent Assets as at 30 June 2008

The Ministry on behalf of the Crown has no contingent liabilities or contingent assets.

 

Note 1: Creditors and Other Payables

 

 

2007/08

 

2007/08

 

2007/08

 

2006/07

 

 

 

Actual

 

Main
Estimates

 

Supp.
Estimates

 

Actual

 

 

 

$(000)

 

$(000)

 

$(000)

 

$(000)

 

Creditors

 

79

 

50

 

80

 

40

 

Accrued expenses

 

944

 

600

 

720

 

845

 

Total creditors and payables

 

1,023

 

650

 

800

 

885

 

 

Creditors and other payables are non-interest bearing and are normally settled on 30-day terms, therefore the carrying value of creditors and other payables approximates their fair value.

Note 2: Explanation of Transition to New Zealand Equivalents to International Financial Reporting Standards (NZ IFRS)

There have been no adjustments to non-departmental asset and liabilities or income and expenses on transition to NZ IFRS.


Updated on 23rd July 2015