Statement of Intent 2006-09: Part Five - Forecast financial schedules for administered accounts - Crown
Forecast financial schedules for administered accounts - Crown
Generally accepted accounting practice (GAAP)
The forecast Crown financial schedules have been prepared in accordance with the requirements of the Public Finance Act 1989.
Inland Revenue administers activities on an agency basis on the Crown's behalf. These activities comprise elements of income, expenditure, assets, liabilities and cash flows, which form part of the consolidated forecast financial statements of the Government.
The forecast financial information has been prepared by Inland Revenue and represents extract information of the Crown activities which are administered by Inland Revenue.
They are based on the accounting policies and assumptions that follow. As with all such assumptions, there is a degree of uncertainty surrounding them which increases as the forecast horizon extends.
The forecasts have been prepared in accordance with the statement of responsibility and reflect the judgements and information known at the time they are prepared. They reflect all Government decisions and circumstances communicated to 31 March 2006.
Date published: 24 Aug 2006
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