Note 2 to the Departmental Resource Accounts: First-time adoption of IFRS
| Category | General Fund £000 |
Revaluation Reserve £000 |
|---|---|---|
| Taxpayers' equity at 31 March 2009 under UK GAAP | (145) | 5,641 |
| Adjustments for: | ||
| IAS 19 Holiday Pay Accrual | (7,516) | - |
| IAS 17 Imputed finance lease element of on balance sheet PFI contracts | (15,887) | - |
| Taxpayers' equity at 1 April 2009 under IFRS | (23,548) | 5,641 |
| Category | Amount £000 |
|---|---|
| Net operating cost for 2008-09 under UK GAAP | 665,451 |
| Adjustments for: | |
| IAS 19 Holiday Pay Accrual | 179 |
| IAS 17 Imputed finance lease element of on balance sheet PFI contracts | (736) |
| Cost of Capital Credit | (858) |
| Net operating cost for 2008-09 under IFRS | 664,036 |
Further details of first time adoption of IFRS are given in Note 1
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