Triathlon New Zealand Annual Report 2025 - Flipbook - Page 41
Statement of Accounting Policies
1.9 Leases
Payments on operating lease agreements, where the lessor retains substantially the risk and rewards of ownership of an asset,
are recognised as an expense on a straight-line basis over the lease term.
Interest charges under finance leases are apportioned over the terms of the respective leases.
Capitalised leased assets are depreciated over their expected useful lives in accordance with rates established for similar assets.
1.10 Employee benefits
Wages, salaries, annual leave and sick leave
Liabilities for wages and salaries and annual leave are recognised in surplus or deficit during the period in which the employee
provided the related services. Liabilities for the associated benefits are measured at the amounts expected to be paid when the
liabilities are settled.
1.11 Equity
Equity is the community’s interest in Triathlon New Zealand Incorporated, measured as the difference between total assets and
total liabilities. Equity is made up of the following components:
Accumulated funds
Accumulated funds are Triathlon New Zealand Incorporated’s accumulated surplus or deficit since its formation.
1.12 Changes in Accounting Policies
There have been no changes in accounting policies. Policies have been applied on a consistent basis with those of the previous
reporting period.
Performance Report
Triathlon New Zealand Incorporated
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