The drawn out transition of ANZ's own-brand banking business on to the technology platform of the National Bank brand in New Zealand will be completed at the end of next month, meaning it's time for the bank to work out the accounting treatment of the project.ANZ said yesterday that "certain costs" associated with the New Zealand IT project "will involve a non-core adjustment as part of ANZ's 2012 full year results."Interest.co.nz reported earlier this month that ANZ estimated the cost of the project as being at least NZ$221 million.ANZ resolved in late 2010 to use the core banking system of the National Bank of New Zealand brand for both bank brands. ANZ acquired National Bank from Lloyds in 2003.ANZ has begun the process of informing customers of the changes that will be associated with the shift. These include new account numbering for term deposits and loans, and the harmonisation of terms on many products (lifting the minimum monthly payment on some credit card products, for example).One factor that will allow ANZ to offset its "non-core adjustment" on IT spending will be a "non-core" gain from its Visa shares. Yesterday, the bank announced that it had sold a parcel of 3.5 million shares that it has held since 2008 and will book a A$224 million after-tax profit in its 2012 accounts.ANZ was allocated shares in Visa in the lead up to Visa's initial public offering, in March 2008. It sold about half its allocation into the IPO.It reported a profit of $353 million ($248 million after tax) in the 2007/08 financial year. This amount represented the value of the full allocation. The profit reported yesterday reflects the increase in the value of the remaining parcel since March 2008.The bank said it will treat the gain as a non-core item and exclude it from cash earnings in its 2012 financial results. This is consistent with the treatment of the $353 million profit it booked in 2008.ANZ noted in a statement that there would be "less attractive capital treatment under Basel III", providing a second rationale for the share sale.The merit of allocating items between core or cash profit and underlying profit is the subject of a review by sell-side analysts at Citi reported by the Financial Review.Citi argued that 17 per cent of cash earnings reported by banks did not flow through to capital, with the reported cash earnings level used to prop up bonus levels and make dividend payout ratios look lower.