E-1Financial Statements - Redacted
5 passages
Expense recognition The Corporation recognizes incentive costs, such as customer rebates, when energy savings are recognized. Energy savings are recognized at milestones within a contract or when the contract is complete. An accrued liabil...
AI summary The Corporation recognizes incentive costs, such as customer rebates, when energy savings are recognized at milestones within a contract or when the contract is complete. An accrued liability for these costs is established if payment is pending, ensuring proper accounting. Other expenses are recorded as they are incurred, in accordance with standard accounting procedures.
Cloud computing arrangements The Corporation has adopted the simplification approach for cloud computing arrangements. Implementation costs are expensed over the term of the arrangement. Subscription fees are expensed when incurred. During...
AI summary The Corporation uses a simplification approach for cloud computing arrangements, expensing implementation costs over the term and subscription fees as incurred. Total expenses for the year were $859 (compared to $703 in 2023), classified under Information technology costs.
b) Liquidity risk Liquidity risk is the risk of being unable to meet cash requirements or fund obligations as they come due. It stems from the possibility of a delay in realizing the fair value of investments. The Corporation manages its l...
AI summary The Corporation manages liquidity risk by monitoring cash flows, holding liquid assets, and adhering to payment terms for accounts payable and HST. Customer incentives are typically paid within 90 days, with exceptions based on contractual terms.
General Index of Financial Information Notes to the financial statements recorded as direct increases or decreases to net assets. 2. SIGNIFICANT ACCOUNTING POLICIES (continued) Expense recognition The Corporation recognizes incentive costs...
AI summary The document outlines Nova Scotia Power Inc.'s accounting policies, including expense recognition for incentive costs, cloud computing arrangements, cash management, financial instruments, impairment testing, related party transactions, and investment valuation methods. Key areas covered are amortized cost measurements, fair value adjustments, and treatment of financial assets and liabilities.
Revenue $ 9 Expenses (including a provision for Net Earnings $ CASH FLOW 2024 2023 Operating $ Change in Cash Cash - beginning of period Cash - end of period $ 3 $ 3 149 8 $ 3 4 4 145 149
AI summary The text provides a brief overview of financial information, including revenue, expenses, net earnings, and cash flow for the years 2023 and 2024. It outlines operating expenses, changes in cash, and cash balances at the beginning and end of each period.