Accounting Alert

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Accounting Alert

Staying on top of financial reporting developments

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:

Accounting Alert

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

Accounting Alert – Quarterly Report

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.

 

Special Edition Accounting Alert Update - Quarterly update March 2020

Quarterly update – Public benefit entities

Quarterly Update - Public benefit entities

Special Edition Accounting Alert - Quarterly update March 2020

Quarterly update – For-profit entities

Quarterly Update - Public benefit entities

IFRS in Focus
March 2020

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 27 March 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 - 27 March 2020

Special edition Accounting Alert: Accounting considerations related to COVID-19
19 March 2020

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 - Quarterly update December 2019

Quarterly update – Public benefit entities

Quarterly Update - Public benefit entities

Accounting Alert - Quarterly update December 2019

Quarterly update – For-profit entities

Quarterly Update - For-profit entities

Accounting Alert - Quarterly update September 2019

Quarterly update – Public benefit entities

Quarterly Update - Public benefit entities

Accounting Alert - Quarterly update September 2019

Quarterly update – For-profit entities

Quarterly Update - For-profit entities

Accounting Alert - Quarterly update June 2019

Quarterly update – Public benefit entities

Quarterly Update - Public benefit entities

Accounting Alert - Quarterly update June 2019

Quarterly update – For-profit entities

Quarterly Update - For-profit entities

Accounting Alert - Quarterly update March 2019

Quarterly update – Public benefit entities

Quarterly Update - Public benefit entities

Accounting Alert - Quarterly update March 2019

Quarterly update – For-profit entities

Quarterly Update - For-profit entities

Accounting Alert - Quarterly update December 2018

Quarterly update – Public benefit entities

Quarterly Update - Public benefit entities

Accounting Alert - Quarterly update December 2018

Quarterly update – For-profit entities

Quarterly Update - For-profit entities

Accounting Alert - Quarterly update September 2018

Quarterly update – Public benefit entities

Quarterly Update - Public benefit entities

Accounting Alert - Quarterly September 2018

Quarterly update –  For-profit entities

Quarterly Update - For-profit entities

Accounting Alert - Quarterly update June 2018

Quarterly update – Public benefit entities

Quarterly Update - Public benefit entities

Accounting Alert - Quarterly June 2018

Quarterly update –  For-profit entities

Quarterly Update - For-profit entities

Accounting Alert - Quarterly update March 2018

Quarterly update – Public benefit entities

Quarterly Update - Public benefit entities

Accounting Alert - Quarterly March 2018

Quarterly update –  For-profit entities

Quarterly Update - For-profit entities

Accounting Alert - Quarterly update December 2017

Quarterly update – Public benefit entities

Quarterly Update - Public benefit entities

Accounting Alert - Quarterly update December 2017

Quarterly update –  For-profit entities

Quarterly Update - For-profit entities

Accounting Alert - Quarterly update  September 2017

Quarterly update – Public benefit entities

Quarterly Update - Public benefit entities

Accounting Alert - Quarterly update September 2017

Quarterly update –  For-profit entities

Quarterly Update - For-profit entities

Accounting Alert - Quarterly update June 2017

Quarterly update – Public benefit entities

Quarterly Update - Public benefit entities

Accounting Alert - Quarterly update June 2017

Quarterly update –  For-profit entities

Quarterly Update - For-profit entities

Accounting Alert - Quarterly update March 2017

Quarterly update – Public benefit entities

Quarterly Update - Public benefit entities

Accounting Alert - Quarterly update March 2017

Quarterly update –  For-profit entities

Quarterly Update - For-profit entities

Accounting Alert - Quarterly update December 2016

Quarterly update – Public benefit entities

Quarterly Update - Public benefit entities

Accounting Alert - Quarterly update December 2016

Quarterly update –  For-profit entities

Quarterly Update - For-profit entities

Accounting Alert - Quarterly update September 2016

Quarterly update – Public benefit entities

Quarterly Update - Public benefit entities

Accounting Alert - Quarterly update September 2016

Quarterly update –  For-profit entities

Quarterly Update - For-profit entities

Accounting Alert - Quarterly update June 2016

Quarterly update – Public benefit entities

Quarterly Update - Public benefit entities

Accounting Alert - Quarterly update June 2016

Quarterly update –  For-profit entities

Quarterly Update - For-profit entities

Accounting Alert - Quarterly update March 2016

Quarterly update – Public benefit entities

Quarterly Update - Public benefit entities

Accounting Alert - Quarterly update March 2016

Quarterly update –  For-profit entities

Quarterly Update - For-profit entities

Accounting Alert - February 2016

NZASB issues exposure drafts and amendments for Public Benefit Entities

The New Zealand Accounting Standards Board (NZASB) and the International Public Sector Accounting Standards Board (IPSASB) have recently issued several important exposure drafts and which will primarily impact Tier 1 and Tier 2 public benefit entities. The exposure drafts cover a wide range of topics, including public sector combinations, service performance reporting, and interests in other entities. The NZASB has also issued an amendment to the non-exchange revenue standard providing relief for certain entities from the requirement to record donated goods at fair value. More >

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 - Quarterly update December 2015

Quarterly update –  For-profit entities

Quarterly Update - For-profit entities

Accounting Alert - Quarterly update December 2015

Quarterly update – Public benefit entities

Quarterly Update - Public benefit entities

Accounting Alert - Quarterly update September 2015

Quarterly update – For-profit entities

Quarterly Update - For-profit entities

Accounting Alert - Quarterly update September 2015

Quarterly update – Public benefit entities

Quarterly Update - Public benefit entities

Accounting Alert - Quarterly Update June 2015

Quarterly update – For-profit entities

Quarterly update – For-profit entities

Accounting Alert - Quarterly Update June 2015

Quarterly update - For Public Benefit Entities

Quarterly update - Public benefit entities

Accounting Alert - March 2015

Quarterly update - What’s new in financial reporting for March 2015?

Accounting Alert March 2015

Accounting Alert - Quarterly Update December 2014

What's new in financial reporting for December 2014

Accounting Alert December 2014

Accounting Alert - Quarterly Update September 2014

What's new in financial reporting for September 2014

Accounting Alert September 2014

Accounting Alert - June 2014

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

More >

Accounting Alert - June 2014

Accounting Alert - Quarterly Update  March 2014 

What's new in financial reporting for March 2014

Accounting Alert March 2014

Accounting Alert - January 2014

International framework for integrated reporting finalised.

The International Integrated Reporting Council (IIRC) has released its ‘International Integrated Reporting  Framework’. The Framework seeks to explain the fundamental concepts, principles and content requirements underlying an 'integrated report', which is considered the next step in the evolution of corporate reporting.

More >

Accounting Alert - January 2014

Accounting Alert - Quarterly Update  December 2013

What's new in financial reporting for December 2013

Accounting Alert December 2013
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