Oireachtas Joint and Select Committees
Thursday, 10 October 2019
Public Accounts Committee
2018 Financial Statements of the National Transport Authority
9:00 am
Mr. Philip L'Estrange:
It is an accounting gain because, per accounting standards, we need to recognise the assets at their value. The net book value of the buses which came across from Dublin Bus to the NTA was this €12 million. We needed to recognise that on our balance sheet. The opposite side of that, from a technical accounting perspective, is that we recognised an accounting gain of €12 million, although it is not a cash gain.