Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search

 

Telecom Confirms Sound Accounting Practice

Telecom Confirms Sound Accounting Practice

Telecom New Zealand said today it has always been committed to sound accounting practice and to comprehensive disclosure on its financial performance.

Chief Financial Officer Marko Bogoievski said revenue gained from the sale of international cable capacity had been fully explained in Telecom’s half year announcement yesterday.

“Our accounting treatment of capacity sales is entirely consistent with accounting standards in New Zealand and Australia,” Mr Bogoievski said.

“Telecom prides itself on its financial disclosure and we have gone to some lengths to explain this issue fully,” he said. “We are confident that the Company’s half year announcement upheld our high standards of transparency in reporting to the market.”

© Scoop Media

 
 
 
Business Headlines | Sci-Tech Headlines

 

Media Mega Merger: StuffMe Hearing Argues Over Moveable Feast

New Zealand's two largest news publishers are appealing against the Commerce Commission's rejection of the proposal to merge their operations. More>>

Elsewhere:


Approval: Northern Corridor Decision Released

The approval gives the green light to construction of the last link of Auckland’s Western Ring Route, providing an alternative route from South Auckland to the North Shore. More>>

ALSO:


Crown Accounts: $4.1 Billion Surplus

The New Zealand Government has achieved its third fiscal surplus in a row with the Crown accounts for the year ended 30 June 2017 showing an OBEGAL surplus of $4.1 billion, $2.2 billion stronger than last year, Finance Minister Steven Joyce says. More>>

ALSO:

Mycoplasma Bovis: One New Property Tests Positive

The newly identified property... was already under a Restricted Place notice under the Biosecurity Act. More>>

Accounting Scandal: Suspension Of Fuji Xerox From All-Of-Government Contract

General Manager of New Zealand Government Procurement John Ivil says, “FXNZ has been formally suspended from the Print Technology and Associated Services (PTAS) contract and terminated from the Office Supplies contract.” More>>