MCCU Annual Report - page 97

97
33. Effects of Changes in Accounting Policies (Cont'd):
(ii) Quantitative effects of change in accounting policy (cont'd).
Effects on statement of comprehensive income
(For the year ended 31st December 2012)
31st December 2012
Previously
Reported
IAS 19
Adjustments
Restated
Comprehensive
Income
$
$
$
INTEREST INCOME:
Liquid Assets
42,362,385
-
42,362,385
Loans to Members
234,284,646
-
234,284,646
Financial Investments
60,250,298
-
60,250,298
336,897,329
-
336,897,329
INTEREST EXPENSE:
Interest Expense on Members' Voluntary Shares
25,421,766
-
25,421,766
Savings Deposits
34,635,721
-
34,635,721
Other Financial Costs
10,164,983
-
10,164,983
70,222,470
-
70,222,470
NET INTEREST INCOME
266,674,859
-
266,674,859
Provision for Loan Impairment
7,170,385
-
7,170,385
NET INTEREST INCOME AFTER
PROVISION
259,504,474
-
259,504,474
NON - INTEREST INCOME
Other Income
50,335,510
-
50,335,510
50,335,510
50,335,510
GROSS INCOME
309,839,984
-
309,839,984
Less Operating Expenses
229,515,683
-
229,515,683
NET INCOME BEFORE HONORARIA
80,324,301
-
80,324,301
Honoraria Payment
(1,600,000)
-
(1,600,000)
NET INCOME AFTER HONORARIA
78,724,301
-
78,724,301
OTHER COMPREHENSIVE INCOME
Revaluation- Available for Sale Investments
(294,858)
-
(294,858)
Remeasurement of retirement benefit asset
4,473,000
10,300,000
14,773,000
82,902,443
10,300,000
93,202,443
MANCHESTER CO-OPERATIVE CREDIT UNION (1977) LIMITED
NOTES TO THE FINANCIAL STATEMENTS - (CONT'D)
YEAR ENDED 31ST DECEMBER 2013
Items that will or may be reclassified to profit or loss:
Items that will not be reclassified to profit or loss:
TOTAL COMPREHENSIVE INCOME AFTER
HONORARIA
MANCHESTER CO-OPERATIVE CREDIT UNION
ANNUAL REPORT 2013
I...,87,88,89,90,91,92,93,94,95,96 98,99,100,101,102,103,104,105,106,107,...126
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