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BARBADOS PUBLIC WORKERS’ CO-OPERATIVE CREDIT UNION LIMITED
NON-CONSOLIDATED ANNUAL REPORT 2014
BARBADOS PUBLIC WORKERS' CO-OPERATIVE CREDIT UNION LIMITED
Notes to the Non-consolidated Financial Statements
For the year ended March 31, 2014
(Expressed in Barbados dollars)
19
2.
Accounting Policies...(continued)
d) Changes in accounting policy and disclosures...(continued)
New and amended standards and interpretations…(continued)
(III) Post-employment defined benefit plans…(continued)
March 31, 2013
As previously reported
Adjustment
As restated
Statement of Income
Staff Costs
$ 10,399,762
88,714
10,488,476
Statement of Comprehensive Income
Remeasurements of defined benefit asset
-
(513,621)
(513,621)
Statement of Financial Position
Pension plan asset
545,809
(223,766)
322,043
Statement of Changes in Equity
Other reserves
1,219,306
(135,052)
1,084,254
Retained earnings
8,818,023
(88,714)
8,729,309
Statement of Cash Flows
Increase in pension plan asset
(162,768)
88,714
(74,054)
There were no other changes resulting from the adoption of these standards during the current
financial year.