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Annual Report 2009
Performance
Audit Report
Ministry Performance
Financial Overview
Departmental Output Expense – Fisheries Policy Advice
Departmental Output Expense – Fisheries Information
Departmental Output Expense – Fisheries Operations
Departmental Output Expense – Fisheries Compliance
Departmental Output Expense – Aquaculture Settlement
Departmental Output Expense – South Pacific Regional Fisheries Management Organisation
Statement of Accounting Policies
Specific Accounting Policies
Statement of Financial Performance
Statement of Changes in Taxpayers’ Funds
Statement of Financial Position
Statement of Cash Flows
Statement of Commitments
Statement of Contingent Liabilities and Contingent Assets
Statement of Departmental Expenditure and Capital Expenditure against Appropriations
Statement of Departmental Unappropriated Expenditure
Notes to the Financial Statements
Report on Vote Fisheries Non-departmental Funds managed by the Ministry of Fisheries
Statement of Non-departmental Accounting Policies
Schedule of Non-departmental Revenue and Expenditure
Schedule of Non-departmental Assets and Liabilities
Statement of Non-departmental Expenditure against Appropriations
Statement of Non-departmental Unappropriated Expenditure
Statement of Non-departmental Contingent Liabilities and Contingent Assets
Notes to the Non-departmental Schedules
Statement of Trust Monies
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Statement of Accounting Policies

for the year ended 30 June 2009

Reporting Entity

The Ministry of Fisheries is a Government Department as defined by section 2 of the Public Finance Act 1989 and is domiciled in New Zealand. In addition, the Ministry has reported on activity undertaken on behalf of the Crown and trust monies which it administers.
The primary objective of the Ministry is to provide services to the public rather than making a financial return. Accordingly, the Ministry has designated itself as a public benefit entity for the purposes of New Zealand equivalents to International Financial Reporting Standards (NZ IFRS).
The financial statements of the Ministry are for the year ended 30 June 2009. The financial statements were authorised for issue by the Chief Executive of the Ministry on 30 September 2009.

Basis of Preparation

The financial statements of the Ministry have been prepared in accordance with the requirements of the Public Finance Act 1989, which includes the requirement to comply with New Zealand generally accepted accounting practices (NZ GAAP). These financial statements have been prepared in accordance with, and comply with, NZ IFRS as appropriate for public benefit entities.
The financial statements have been prepared on a historical cost basis. The financial statements are presented in New Zealand dollars and all values are rounded to the nearest thousand dollars ($000). The functional currency of the Ministry is New Zealand dollars.

Use of Accounting Estimates and Judgements

In preparing these financial statements the Ministry has made estimates and assumptions concerning the future. These estimates and assumptions may differ from the subsequent actual results.
Estimates and judgements are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods.

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Updated : 3 November 2009