Nissan 2008 Annual Report Download - page 56

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CHANGES IN PRESENTATION
54 Nissan Annual Report 2008
Prior fiscal year Current fiscal year
From April 1, 2006 From April 1, 2007
[
To March 31, 2007
][
To March 31, 2008
]
Additional information
Consolidated balance sheets
In the presentation of “Current liabilities,” “Commercial paper” has
been presented separately from “Short-term borrowings” due to its
increased materiality.
“Commercial paper” in the amount of ¥366,998 million is included
in “Short-term borrowings” for the prior fiscal year.
Consolidated statements of income
Beginning with the year ended March 31, 2007, the Company has
combined “amortization of goodwill”—a component of the “Other”
account—and “Amortization of excess of cost over net assets
acquired” and has presented these as “Amortization of goodwill” in
accordance with the revised Regulations for Consolidated Financial
Statements.
“Amortization of goodwill” for the year ended March 31, 2007
includes “Amortization of excess of cost over net assets acquired” in
the amount of ¥5,663 million and “amortization of goodwill” in the
amount of ¥674 million.
Consolidated statements of income
(1) A gain on prior period adjustments was presented as a separate
account until the prior fiscal year. Due to its minor importance,
however, this account, in the amount of ¥1,383 million for the
current fiscal year, has been included in “Other” under “Special
gains.”
(2) A loss on prior period adjustments was presented as a separate
account until the prior fiscal year. Due to its minor importance,
however, this account, in the amount of ¥1,637 million for the
current fiscal year, has been included in “Other” under “Special
losses.”
Prior fiscal year Current fiscal year
From April 1, 2006 From April 1, 2007
[
To March 31, 2007
][
To March 31, 2008
]
Accrued Retirement Benefits for Directors and Statutory
auditors
Until the year ended March 31, 2007, the Company expensed
retirement benefits for directors and statutory auditors to income
when general shareholders’ meetings approved resolutions for the
payments of those benefits. However, a resolution was approved at
the general shareholders’ meeting held on June 20, 2007 that
retirement benefits for directors and statutory auditors in response
to the discontinuation of such system to be paid to the relevant
directors and statutory auditors when they retire. Accordingly, the
Company recognized the amount of expected payments for this
purpose as a special loss and included the outstanding balance in
“Other long-term liabilities” for the fiscal year ended March 31,
2008.