Standards for For-Profit Entities

This page contains the accounting standards and other pronouncements to be applied by for-profit entities preparing general purpose financial reports for periods beginning on or after 1 December 2012.

The page contains:

Accounting Standards and Other Documents for Tier 1 and Tier 2

Standard Title Issued Date compiled to Effective Date Support Material
The Effective Date of a standard indicates the annual reporting period from which that standard applies. A standard also applies to subsequent annual reporting periods until that standard is superseded by a new/amended/revised standard.
XRB A1 Application of the Accounting Standards Framework Dec 2015 1 Jan 2016
XRB A1 (FP Entities + PS PBEs + NFPs - FP T3 + T4 Update) Accounting Standards Framework (For-profit Entities plus Public Sector Public Benefit Entities plus Not-for-profit Entities minus For-profit Tier 3 and Tier 4 Update) (XRB A1 (FP Entities + PS PBEs + NFPs – FP Tier 3 and Tier 4 Update)) Mar 2015 1 Apr 2015
XRB A1 (FP Entities + PS PBE Update

Accounting Standards Framework (For-profit Entities plus Public Sector Public Benefit Entities)

May 2013 31 Mar 2014 1 Jul 2014
XRB A2

Standard XRB A2 Meaning of Specified Statutory Size Thresholds

Dec 2015 31 Dec 2015 1 Apr 2015
XRB A2 Feb 2014 25 June 2015 1 Apr 2015
XRB A2


Feb 2014 1 Apr 2014
Annual Improvements 2014-2016 Cycle Annual Improvements NZ IFRSs 2014-2016 Cycle Feb 2017
Various Additional Material
NZ IFRS 1

First-time Adoption of New Zealand Equivalents to International Financial Reporting Standards

Nov 2012 31 Dec 2015 (excl NZ IFRS 9 and NZ IFRS 15) 1 Jan 2016 Additional material
NZ IFRS 1


Nov 2012 31 Dec 2014 (excl NZ IFRS 9, 14 and 15) 1 Apr 2015 Additional material
NZ IFRS 1


Nov 2012 31 Dec 2012 (excl NZ IFRS 9) 1 Jan 2014 Additional material

NZ IFRS 2

Share-based Payment
Nov 2012 31 Dec 2015 1 Jan 2016 Additional material

NZ IFRS 2


Nov 2012 28 Feb 2014 1 Jul 2014 Additional material

Amendments to NZ IFRS 2

Classification and Measurement of Share-based Payment Transactions

Aug 2016   1 Jan 2018 Additional material
NZ IFRS 3

Business Combinations

Nov 2012 31 Dec 2015 (excl NZ IFRS 9 and NZ IFRS 15) 1 Jan 2016 Additional material
NZ IFRS 3 Nov 2012 28 Feb 2014 (excl NZ IFRS 9) 1 Jul 2014 Additional material

NZ IFRS 4

Insurance Contracts

Nov 2012 31 Dec 2015 (excl NZ IFRS 9 and NZ IFRS 15) 1 Jan 2016 Additional material

Amends to NZ IFRS 4

Applying NZ IFRS 9 with NZ IFRS 4

Nov 2016
1 Jan 2018 Additional material

NZ IFRS 4


Nov 2012 31 May 2014 (excl NZ IFRS 9) 1 July 2014 Additional material
NZ IFRS 5

Non-current Assets Held for Sale and Discontinued Operations

Nov 2012 31 Dec 2015 (excl NZ IFRS 9) 1 Jan 2016 Additional material
NZ IFRS 5


Nov 2012 31 Dec 2012 (excl NZ IFRS 9) 1 Jan 2014 Additional material

NZ IFRS 6

Exploration for and Evaluation of Mineral Resources

Nov 2012 30 Nov 2012 1 Dec 2012 Additional material
NZ IFRS 7

Financial Instruments: Disclosures

Nov 2012 15 Dec 2015 (exl NZ IFRS 9) 1 Jan 2016 Additional material
NZ IFRS 7


Nov 2012 31 Dec 2014 (exl NZ IFRS 9) 1 Apr 2015 Additional material
NZ IFRS 7


Nov 2012 28 Feb 2014 (exl NZ IFRS 9) 1 Apr 2014 Additional material

NZ IFRS 8

Operating Segments

Nov 2012 28 Feb 2014 1 Jul 2014 Additional material

NZ IFRS 9 (2014)

Financial Instruments Sept 2014 31 Dec 2015 1 Jan 2018 Additional material
RDR Expected Credit Losses RDR Expected Credit Losses Nov 2016
1 Jan 2018

NZ IFRS 9 (2013)


Dec 2013 30 Sept 2014 (excl NZ IFRS 15) 1 Jan 2018 (may be adopted before 1 Feb 2015) Additional material

NZ IFRS 9 (2010)


Nov 2012 30 Sept 2014 (excl NZ IFRS 15) 1 Jan 2018 (may be adopted before 1 Feb 2015) Additional material

NZ IFRS 9 (2009)


Nov 2012 30 Sept 2014 (excl NZ IFRS 15) 1 Jan 2018 (may be adopted before 1 Feb 2015) Additional material

NZ IFRS 10

Consolidated Financial Statements
Nov 2012 31 Dec 2015 1 Jan 2016 Additional material

NZ IFRS 10

Nov 2012 31 Dec 2014 1 Apr 2015 Additional material
NZ IFRS 10


Nov 2012 31 Dec 2012 1 Jan 2014 Additional material

Amends to NZ IFRS 10 and NZ IAS 28

Sale or Contribution of Assets between an Investor and its Associate or Joint Venture Oct 2014 1 Jan 2016 Additional Material

Amends to NZ IFRS 10 and NZ IAS 28

Effective Date of Amendments to NZ IFRS 10 and NZ IAS 28  Feb 2016  1 Jan 2020  Additional material

NZ IFRS 11

Joint Arrangements Nov 2012 31 Dec 2015 1 Jan 2016 Additional material

NZ IFRS 11


Nov 2012 30 Nov 2012 1 Jan 2013 Additional material

NZ IFRS 12

Disclosure of Interests in Other Entities

Nov 2012 31 Dec 2015 1 Jan 2016 Additional material
NZ IFRS 12


Nov 2012 31 Dec 2012 1 Jan 2014 Additional material
NZ IFRS 13 Fair Value Measurement
Nov 2012 31 Dec 2015 1 Jan 2016 Additional material
NZ IFRS 13


Nov 2012 28 Feb 2014 1 Jul 2014 Additional material

NZ IFRS 14

Regulatory Deferral Accounts Mar 2014 31 Dec 2015 1 Jan 2016 Additional material

NZ IFRS 15

Revenue from Contracts with Customers Jul 2014 31 Dec 2015 1 Jan 2018 Additional material
NZ IFRS 16  Leases  Feb 2016    1 Jan 2019  Additional material 

NZ IAS 1

Presentation of Financial Statements
Nov 2012 31 Dec 2015 (excl NZ IFRS 9 and NZ IFRS 15) 1 Jan 2016 Additional material

NZ IAS 1


Nov 2012 28 Feb 2014 (excl NZ IFRS 9) 1 Apr 2014 Additional material

NZ IAS 2

Inventories Nov 2012 31 Dec 2015
(excl NZ IFRS 9 and NZ IFRS 15)
1 Jan 2016 Additional material

NZ IAS 2


Nov 2012 30 Nov 2012
(excl NZ IFRS 9)
1 Jan 2013 Additional material

NZ IAS 7

Statement of Cash Flows

Nov 2012 31 Dec 2015 1 Jan 2016 Additional material

NZ IAS 7


Nov 2012 31 Dec 2012 1 Jan 2014 Additional material

Amendments to NZ IAS 7

Disclosure Initiative

May 2016 1 Jan 2017 Additional material

NZ IAS 8

Accounting Policies, Changes in Accounting Estimates and Errors

Nov 2012 31 Dec 2015 (excl NZ IFRS 9) 1 Jan 2016 Additional material

NZ IAS 8


Nov 2012 30 Nov 2012 (excl NZ IFRS 9) 1 Jan 2013 Additional material

NZ IAS 10

Events after the Reporting Period

Nov 2012 31 Dec 2015 1 Jan 2016 Additional material

NZ IAS 10


Nov 2012 30 Nov 2012 1 Jan 2013 Additional material

NZ IAS 11

Construction Contracts

Nov 2012 31 Dec 2015 1 Jan 2016 (superseded by NZ IFRS 15) Additional material

NZ IAS 11


Nov 2012 30 Nov 2012 1 Dec 2012 (superseded by NZ IFRS 15) Additional material

NZ IAS 12

Income Taxes

Nov 2012 31 Dec 2015 (excl NZ IFRS 9 and NZ IFRS 15) 1 Jan 2016 Additional material

NZ IAS 12


Nov 2012 31 Dec 2012 (excl NZ IFRS 9) 1 Jan 2014 Additional material
Amendments to NZ IAS 12  Recognition of Deferred Tax Assets for Unrealised Losses Mar 2016    1 Jan 2017 Additional material
NZ IAS 16

Property, Plant and Equipment

Nov 2012 31 Dec 2015 1 Jan 2016 Additional material
NZ IAS 16

 

Nov 2012 28 Feb 2014 1 Jul 2014 Additional material

NZ IAS 17

Leases

Nov 2012 30 Sept 2014 1 Jan 2016 (superseded by NZ IFRS 16) Additional material

NZ IAS 17


Nov 2012 30 Nov 2012 1 Dec 2012 Additional material

NZ IAS 18

Revenue

Nov 2012 31 Dec 2015 (excl NZ IFRS 9) 1 Jan 2016 (superseded by NZ IFRS 15) Additional material

NZ IAS 18

Nov 2012 30 Nov 2012 (excl NZ IFRS 9) 1 Jan 2013 (superseded by NZ IFRS 15) Additional material

NZ IAS 19

Employee Benefits

Nov 2012 31 Dec 2015 1 Jan 2016 Additional material

NZ IAS 19


Nov 2012 28 Feb 2014 1 Jul 2014 Additional material

NZ IAS 20

Accounting for Government Grants and Disclosure of Government Assistance

Nov 2012 30 Nov 2012 (excl NZ IFRS 9) 1 Jan 2013 Additional material
NZ IAS 21

The Effects of Changes in Foreign Exchange Rates

Nov 2012 31 Dec 2015 (excl NZ IFRS 9) 1 Jan 2016 Additional material
NZ IAS 21


Nov 2012 30 Nov 2012 (excl NZ IFRS 9) 1 Jan 2013 Additional material

NZ IAS 23

Borrowing Costs

Nov 2012 31 Dec 2015 1 Jan 2016 Additional material

NZ IAS 23


Nov 2012 30 Nov 2012 1 Dec 2012 Additional material

NZ IAS 24

Related Party Disclosures

Nov 2012 31 Dec 2015 1 Jan 2016 Additional material

NZ IAS 24


Nov 2012 28 Feb 2014 1 Jul 2014 Additional material

NZ IAS 26

Accounting and Reporting by Retirement Benefit Plans

Nov 2012 30 Sept 2014 1 Jan 2015

NZ IAS 26


Nov 2012 30 Nov 2012 1 Dec 2012

NZ IAS 27

Separate Financial Statements Nov 2012 31 Dec 2015 1 Jan 2016 Additional material

NZ IAS 27


Nov 2012 31 Dec 2012 1 Jan 2014 Additional material

NZ IAS 28

Investments in Associates and Joint Ventures

Nov 2012 31 Dec 2015 1 Jan 2016 Additional material

NZ IAS 28


Nov 2012 31 Dec 2014 1 Apr 2015 Additional material

NZ IAS 28 (amended 2011)


Nov 2012 31 Dec 2012 1 Jan 2014 Additional material

NZ IAS 29

Financial Reporting in Hyperinflationary Economies

Nov 2012 30 Nov 2012 1 Dec 2012 Additional material

NZ IAS 32

Financial Instruments: Presentation

Nov 2012 31 Dec 2015 (excl NZ IFRS 9 and NZ IFRS 15) 1 Jan 2016 Additional material

NZ IAS 32


Nov 2012 31 Dec 2012 (excl NZ IFRS 9) 1 Jan 2014 Additional material

NZ IAS 33

Earnings per Share

Nov 2012 31 Dec 2015 1 Jan 2016 Additional material

NZ IAS 33


Nov 2012 30 Nov 2012 1 Jan 2013 Additional material

NZ IAS 34

Interim Financial Reporting

Nov 2012 31 Dec 2015 (excl NZ IFRS 15) 1 Jan 2016 Additional material

NZ IAS 34

Nov 2012 31 Dec 2012 1 Jan 2014 Additional material

NZ IAS 36

Impairment of Assets

Nov 2012 31 Dec 2015 (excl NZ IFRS 9 & NZ IFRS 15) 1 Jan 2016 Additional material

NZ IAS 36


Nov 2012 31 Oct 2013 (excl NZ IFRS 9) 1 Jan 2014 Additional material

NZ IAS 37

Provisions, Contingent Liabilities and Contingent Assets

Nov 2012 31 Dec 2015 (excl NZ IFRS 9 and NZ IFRS 15) 1 Jan 2016 Additional material

NZ IAS 37


Nov 2012 28 Feb 2014 (excl NZ IFRS 9) 1 Jul 2014 Additional material

NZ IAS 38

Intangible Assets

Nov 2012 31 Dec 2015 (excl NZ IFRS 15) 1 Jan 2016 Additional material

NZ IAS 38


Nov 2012 28 Feb 2014 1 Jul 2014 Additional material

NZ IAS 39

Financial Instruments: Recognition and Measurement

Nov 2012 28 Feb 2014 (excl NZ IFRS 9 and NZ IFRS 15) 1 Jul 2014 Additional material

NZ IAS 40

Investment Property

Nov 2012 31 Dec 2015 (excl NZ IFRS 15) 1 Jan 2016 Additional material
NZ IAS 40   Nov 2012 28 Feb 2014 1 July 2014 Additional material 

NZ IAS 40


Nov 2012 30 Nov 2012 1 Jan 2013 Additional material
Amendments to
NZ IAS 40
Transfers of Investment Property Feb 2017
1 Jan 2018 Additional
Material

NZ IAS 41

Agriculture

Nov 2012 31 Dec 2015 1 Jan 2016 Additional material

NZ IAS 41


Nov 2012 30 Nov 2012 1 Jan 2013 Additional material

FRS-42

Prospective Financial Statements

Nov 2012 28 Feb 2014 1 Apr 2014

FRS-43

Summary Financial Statements

Nov 2012 31 Dec 2015 1 Jan 2016

FRS-43


Nov 2012 28 Feb 2014 1 Apr 2014

FRS-44

New Zealand Additional Disclosures

Nov 2012 31 Dec 2015 1 Jan 2016

FRS-44


Nov 2012 31 Dec 2014 1 Apr 2015

FRS-44


Nov 2012 31 Aug 2013 1 Jan 2014

NZ IFRIC 1

Changes in Existing Decommissioning, Restoration and Similar Liabilities

Nov 2012 30 Nov 2012 1 Dec 2012 Additional material

NZ IFRIC 2

Members’ Shares in Co-operative Entities and Similar Instruments

Nov 2012 30 Nov 2012 (excl NZ IFRS 9) 1 Jan 2013 Additional material

NZ IFRIC 4

Determining whether an Arrangement contains a Lease

Nov 2012 30 Nov 2012 1 Jan 2013 (superseded by NZ IFRS 16) Additional material

NZ IFRIC 5

Rights to Interests arising from Decommissioning, Restoration and Environmental Rehabilitation Funds

Nov 2012 30 Nov 2012 (excl NZ IFRS 9) 1 Jan 2013 Additional material

NZ IFRIC 6

Liabilities arising from Participation in a Specific Market—Waste Electrical and Electronic Equipment

Nov 2012 30 Nov 2012 1 Dec 2012 Additional material

NZ IFRIC 7

Applying the Restatement Approach under NZ IAS 29 Financial Reporting in Hyperinflationary Economies

Nov 2012 30 Nov 2012 1 Dec 2012 Additional material
NZ IFRIC 9

Reassessment of Embedded Derivatives

Nov 2012 30 Nov 2012 1 Jan 2013 (superseded by NZ IFRS 9 (2010), (Jan 2018) Additional material

NZ IFRIC 10

Interim Financial Reporting and Impairment

Nov 2012 30 Nov 2012 (excl NZ IFRS 9) 1 Dec 2012 Additional material

NZ IFRIC 12

Service Concession Arrangements

Nov 2012 30 Nov 2012 (excl NZ IFRS 9) 1 Dec 2012 Additional material
NZ IFRIC 13

Customer Loyalty Programmes

Nov 2012 30 Nov 2012 1 Jan 2013 (superseded by NZ IFRS 15) Additional material

NZ IFRIC 14

NZ IAS 19—The Limit on a Defined Benefit Asset, Minimum Funding Requirements and their Interaction

Nov 2012 30 Nov 2012 1 Jan 2013 Additional material

NZ IFRIC 15

Agreements for the Construction of Real Estate

Nov 2012 30 Nov 2012 1 Dec 2012 (superseded by NZ IFRS 15) Additional material

NZ IFRIC 16

Hedges of a Net Investment in a Foreign Operation

Nov 2012 30 Nov 2012 1 Jan 2013 Additional material

NZ IFRIC 17

Distributions of Non-cash Assets to Owners

Nov 2012 30 Nov 2012 1 Jan 2013 Additional material

NZ IFRIC 18

Transfers of Assets from Customers

Nov 2012 30 Nov 2012 1 Dec 2012 (superseded by NZ IFRS 15) Additional material

NZ IFRIC 19

Extinguishing Financial Liabilities with Equity Instruments

Nov 2012 30 Nov 2012 (excl NZ IFRS 9) 1 Jan 2013 Additional material

NZ IFRIC 20

Stripping Costs in the Production Phase of a Surface Mine

Nov 2012 30 Nov 2012 1 Jan 2013 Additional material

NZ IFRIC 21

Levies

Jun 2013 30 Jun 2013 1 Jan 2014 Additional material
NZ IFRIC 22 Foreign Currency Feb 2017
1 Jan 2018 Additional material

NZ SIC-7

Introduction of the Euro

Nov 2012 30 Nov 2012 1 Dec 2012 Additional material

NZ SIC-10

Government Assistance—No Specific Relation to Operating Activities

Nov 2012 30 Nov 2012 1 Dec 2012 Additional material

NZ SIC-15

Operating Leases—Incentives

Nov 2012 30 Nov 2012 1 Dec 2012 (superseded by NZ IFRS 16) Additional material

NZ SIC-25

Income Taxes—Changes in the Tax Status of an Entity or its Shareholders

Nov 2012 30 Nov 2012 1 Dec 2012 Additional material

NZ SIC-27

Evaluating the Substance of Transactions Involving the Legal Form of a Lease

Nov 2012 30 Nov 2012 (excl NZ IFRS 9) 1 Dec 2012 (superseded by NZ IFRS 16) Additional material

NZ SIC-29

Service Concession Arrangements: Disclosures

Nov 2012 30 Nov 2012 1 Dec 2012 Additional material

NZ SIC-31

Revenue—Barter Transactions Involving Advertising Services

Nov 2012 30 Nov 2012 1 Dec 2012 (superseded by NZ IFRS 15) Additional material

NZ SIC-32

Intangible Assets—Web Site Costs

Nov 2012 30 Nov 2012 1 Dec 2012 Additional material
Glossary - The Glossary contains terms defined in New Zealand Equivalents to IFRSs

Authoritative Notices for Tier 1 and Tier 2

Pronouncements Issued Effective Date Support material
New Zealand Framework March 2014 1 April 2014 Additional Material
New Zealand Framework November 2012 1 December 2012 Additional Material

Revocations

Pronouncements Issued Effective Date
Revocation of Tier 3 and Tier 4 For-profit Accounting Standards March 2015 1 April 2015

Explanatory Material for Tier 1 and Tier 2

This explanatory material has no legal status and has been issued for explanatory purposes only.

Explanatory Guide Title Issued Relevant to reporting periods beginning on or after
EG A1 Guide to Application of the Accounting Standards Framework April 2016 1 January 2016
EG A1 (FP Entities + PS PBEs Update) Explanatory Guide: Accounting Standards Framework (For-Profit Entities plus Public Sector Public Benefit Entities Update) February 2014 1 July 2014
EG A1 (FP Entities + PS PBEs + NFPs Update) Explanatory Guide: Accounting Standards Framework (For-Profit Entities plus Public Sector Public Benefit Entities plus Not-For-Profit Entities Update) February 2014 1 Apr 2015
EG A1(FP Entities Update) Explanatory Guide: Accounting Standards Framework (For-Profit Entities Update) November 2012 1 December 2012
EG A2 Explanatory Guide: Overview of the Accounting Standard Setting Process August 2014 August 2014
IFRS Practice Statement Management Commentary

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Other Related Material

This material has no legal status and have been issued for explanatory purposes only.


Title

Issued

Feedback Statement on Exposure Draft Submissions on XRB A1 Accounting Standards Framework: Omnibus Amendments (Legislative Update) Feb 2014
Feedback Statement on Exposure Draft Submissions on XRB A2 Meaning of Specified Statutory Size Thresholds (ED XRB A2) Feb 2014
Feedback Statement: Amendments to Accounting Standards: Omnibus Amendments (Legislative Update) Feb 2014
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