New Accounting Standards for For-Profit Entities
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This page provides For-Profit entities a snapshot of new and amending standards to consider when preparing financial statements. |
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For these new and amending standards application is required for periods beginning on or after 1 January of the following years.
2024 |
2025 |
2026 |
Row 1
Row 2
Balance date when first time application is required
Select your balance date for new standards requiring first-time adoption in each reporting period:
Application required for periods beginning on/after 1 January 2025
- Lack of Exchangeability
- Mandatory Date of Amendments to NZ IFRS 10 and NZ IAS 28
Application required for periods beginning on/after 1 January 2024
- Supplier Finance Arrangements (Amendments to NZ IFRS 7 and NZ IAS 7)
- Non-current Liabilities with Covenants (Amendments to NZ IAS 1)
- Disclosure of Fees for Audit Firms’ Services (Amendments to FRS 44)
- Lease Liability in a Sale and Leaseback (Amendments to NZ IFRS 16)
Application required for periods beginning on/after 1 January 2024
- Supplier Finance Arrangements (Amendments to NZ IFRS 7 and NZ IAS 7)
- Non-current Liabilities with Covenants (Amendments to NZ IAS 1)
- Disclosure of Fees for Audit Firms’ Services (Amendments to FRS 44)
- Lease Liability in a Sale and Leaseback (Amendments to NZ IFRS 16)
Application required for periods beginning on/after 1 January 2024
- Supplier Finance Arrangements (Amendments to NZ IFRS 7 and NZ IAS 7)
- Non-current Liabilities with Covenants (Amendments to NZ IAS 1)
- Disclosure of Fees for Audit Firms’ Services (Amendments to FRS 44)
- Lease Liability in a Sale and Leaseback (Amendments to NZ IFRS 16)
Application required for periods beginning on/after 1 January 2024
- Supplier Finance Arrangements (Amendments to NZ IFRS 7 and NZ IAS 7)
- Non-current Liabilities with Covenants (Amendments to NZ IAS 1)
- Disclosure of Fees for Audit Firms’ Services (Amendments to FRS 44)
- Lease Liability in a Sale and Leaseback (Amendments to NZ IFRS 16)
Application required for periods beginning on/after 1 January 2023
- NZ IFRS 17 Insurance Contracts
- Disclosure of Accounting Policies (Amendments to NZ IAS 1)
- Definition of Accounting Estimates (Amendments to NZ IAS 8)
- Initial Application of NZ IFRS 17 and NZ IFRS 9—Comparative Information (Amendments NZ IFRS 17)
- International Tax Reform – Pillar Two Model Rules (Amendments to NZ IAS 12)
Application required for periods beginning on/after 1 January 2023
- NZ IFRS 17 Insurance Contracts
- Disclosure of Accounting Policies (Amendments to NZ IAS 1)
- Definition of Accounting Estimates (Amendments to NZ IAS 8)
- Initial Application of NZ IFRS 17 and NZ IFRS 9—Comparative Information (Amendments NZ IFRS 17)
- International Tax Reform – Pillar Two Model Rules (Amendments to NZ IAS 12)
Application required for periods beginning on/after 1 January 2023
- NZ IFRS 17 Insurance Contracts
- Disclosure of Accounting Policies (Amendments to NZ IAS 1)
- Definition of Accounting Estimates (Amendments to NZ IAS 8)
- Initial Application of NZ IFRS 17 and NZ IFRS 9—Comparative Information (Amendments NZ IFRS 17)
- International Tax Reform – Pillar Two Model Rules (Amendments to NZ IAS 12)