Notes to the Consolidated Financial Statements
d. Use of estimates and judgments In the application of the Corporation’s accounting policies, which are described in Note 3, management is required to make judgments, estimates and assumptions that affect the application of accounting policies and the reported amounts of assets, liabilities, revenue and expenses. Actual results may differ from these estimates. The estimates and associated assumptions are based on historical experience and other factors that are considered relevant. The estimates and assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognized in the period in which the estimate is revised as well as any future periods affected. Information about critical judgments in applying accounting policies that have a material effect on the amounts recognized in the consolidated financial statements is included in Note 3 as well as the following notes:
Revenue recognition related to unbilled revenue (Note 5) Existence of decommissioning liabilities (Note 16) Designation of own-use derivative contracts (Note 18)
Information about significant management estimates and assumptions that have a risk of resulting in a significant adjustment is included in Note 3 as well as the following notes:
Estimated unbilled revenue (Note 5) Expected credit losses (Note 5) Fair value of financial and derivative instruments (Note 7) Useful lives and depreciation rates for right-of-use (ROU) assets (Note 9) Useful lives and amortization rates for intangible assets (Note 10) Useful lives and depreciation rates for property, plant and equipment (Note 11) Recoverable amount of non-financial assets (Note 11) Estimated unearned customer capital contributions (Note 14) Estimated lease liability (Note 15) Estimated future cost of decommissioning liabilities (Note 16) 3. Summary of Material Accounting Policy Information The accounting policies set out below have been applied consistently by the Corporation and its subsidiaries to all periods presented in the consolidated financial statements. a. Future changes in accounting policies New standards, amendments and interpretations which are not yet effective for the year ended March 31, 2025, have not been applied in preparing these consolidated financial statements. The Corporation is reviewing new and amended standards to determine the potential impact: • Amendments to IFRS 9, Financial Instruments and IFRS 7 Financial Instruments: Disclosures - These amendments clarify the classification and measurement of financial instruments, including those with environmental, social, and governance (ESG) features, and introduce additional disclosure requirements. • IFRS 18, Presentation and Disclosure in Financial Statements - IFRS 18 introduces new requirements for the presentation and disclosure of financial statements, including the introduction of new subtotals in the statement of profit or loss and enhanced principles for aggregation and disaggregation of items.
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