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Accounting Procedures

Volume 164: debated on Thursday 21 December 1989

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To ask the Secretary of State for Transport whether in the last 10 years he or his predecessors, either by direction or informally, secured changes in the accounting conventions followed by the British Transport Docks Board, Associated British Ports, the British Airports Authority or British Airways, respectively; and if he will make a statement.

[holding answer 18 December 1989]: British Transport Docks Board accounts were prepared under the historic cost convention during the period up to privatisation, adding current cost accounts as supplementary from 1980. British Airways accounts were produced under the historic cost convention with current cost accounts as supplementary for the whole period up to privatisation. British Airports Authority accounts were changed from modified historic cost convention to current cost convention in 1980–81 and produced on that basis up to privatisation. The change of convention was decided by the authority and agreed by the Government.