Accounting Alert


Accounting Alert

Connect to what’s new in financial reporting

The Accounting Alerts cover changes to New Zealand financial reporting requirements and developments in International Financial Reporting Standards, including exposure drafts and discussion papers.

We provide two regular alerts on accounting issues:

Quarterly updates

The quarterly “what’s new?” report is a tool for preparers of financial statements outlining which new standards and amendments are mandatory and which are available for early adoption in the current financial reporting period.

Accounting Alert

Accounting Alerts keep you up to date with the latest developments in Financial Reporting.

Quarterly updates

Quarterly update - September 2023

Quarterly update - June 2023

Quarterly update - March 2023

Quarterly update - December 2022

Quarterly update - September 2022

Quarterly update - June 2022

Quarterly update - March 2022

Quarterly update - December 2021

Quarterly update - September 2021

Quarterly update - June 2021

Accounting Alerts

Special Accounting Alert – June 2021

Reporting climate risk

Climate change is generally accepted to be an urgent risk that entities around the world are already facing. With growing pressure from investors and other stakeholders, as well as increased government activity, entities have to take action to consider and provide meaningful and useful disclosure about climate-related risks that could impact the entity and how management are responding to these risks. Read more >

Reporting climate risk

Special Edition Accounting Alert Update - 26 May 2021

Software-as-a-Service arrangements

The IFRS Interpretations Committee (IFRIC®) has published two agenda decisions clarifying how arrangements in respect of a specific part of cloud technology, Software-as-a-Service, should be accounted for. Read more >

Software-as-a-Service arrangements - 26 May 2021

Special Edition Accounting Alert Update – 29 October 2020

Accounting considerations related to COVID-19

As the pandemic increases in both magnitude and duration, entities are experiencing conditions often associated with a general economic downturn. This includes, but is not limited to, financial market volatility and erosion, deteriorating credit, liquidity concerns, further increases in government intervention, increasing unemployment, broad declines in consumer discretionary spending, increasing inventory levels, reductions in production because of decreased demand, layoffs and furloughs, and other restructuring activities. The continuation of these circumstances could result in an even broader economic downturn which could have a prolonged negative impact on an entity’s financial results.

For-profit entities may find our global IFRS in Focus (dated 29 October 2020) useful when preparing financial statements. It discusses certain key IFRS accounting considerations related to conditions that may result from the COVID 19 pandemic, with more in-depth analysis than our previous 19 March 2020 alert. Some sections will also be applicable for public benefit entities where the Public Benefit Entity Standards are aligned with IFRS.

IFRS in Focus - 29 October 2020

Special Edition Accounting Alert - 19 March 2020

Accounting considerations related to COVID-19

Global and local responses to the coronavirus disease 2019 (COVID-19) outbreak continue to rapidly evolve. COVID-19 has already had a significant impact on business operations and financial markets, and it may have accounting implications for many entities which business leaders and finance teams will also need to address as reporting deadlines approach.

The purpose of this alert is to highlight some of the key issues to be considered by entities in preparing their financial statements applying NZ IFRS or PBE Standards for periods ending on or after 31 December 2019. 

Special Edition Accounting Alert - 19 March 2020

Accounting Alert - January 2016

IASB issues IFRS 16 – Leases

After years of deliberation, extensive consultation, and lively debate, the International Accounting Standards Board has now issued IFRS 16 Leases. The new standard eliminates the distinction between operating and finance leases for lessees and will result in lessees bringing most leases onto their balance sheets. The accounting by lessors will remain largely unchanged. More >

Accounting Alert - June 2014

The International Accounting Standard Board (IASB) has published its new revenue Standard, IFRS 15: Revenue from Contracts with Customers. More >

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