Standards For-Profit Entities
This page contains the current accounting standards for for-profit entities issued by the ASRB/XRB Board or the NZASB. These Standards apply to all for-profit reporting entities preparing general purpose financial reports.
A “for-profit entity” is an entity which is not a public benefit entity. A “public benefit entity” is an entity whose primary objective is to provide goods or services for community or social benefit and where any equity has been provided with a view to supporting that primary objective rather than for a financial return to equity holders.
These Standards are issued under section 24(1)(a) of the Financial Reporting Act 1993.
A PDF copy of the Standards can be downloaded by clicking on the relevant link below.
Accounting standards
| Standard | Title | Issued in New Zealand | 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 A standard also applies to subsequent annual reporting periods until that standard is superseded by a new/amended/revised standard. | |||||
| NZ IFRS 1 |
First-time Adoption of New Zealand Equivalents to International Financial Reporting Standards |
Dec 2008 | 31 Dec 2011 (excl NZ IFRS 9, 10, 11, 12 & 13) | 1 Jul 2012 | Additional material |
| NZ IFRS 1 |
Government loans (Amends to NZ IFRS 1) |
Apr 2010 | Apr 2010 | 1 Jan 2013 | Additional material |
| NZ IFRS 1 | Dec 2008 | 30 Jun 2011 (excl NZ IFRS 9, 10, 11, 12 & 13) |
1 Jul 2011 | Additional material | |
| NZ IFRS 1 | Dec 2008 | 31 Jul 2010 (excl NZ IFRS 9) | 1 Jan 2011 | Additional material | |
| NZ IFRS 1 | Dec 2008 | 31 Dec 2009 (excl NZ IFRS 9) |
1 Jan 2010 & 1 July 2009 |
Additional material | |
|
Share-based Payment |
Nov 2004 | 30 Jun 2011 (excl NZ IFRS 10, 11 & 13) |
1 Jan 2010 & 1 Jan 2009 |
Additional material | |
|
Business Combinations |
Feb 2008 | 30 Jun 2011 (excl NZ IFRS 9, 10 & 13) |
1 Jul 2010 & 1 Jul 2009 |
Additional material | |
|
Insurance Contracts |
Nov 2004 | 30 Jun 2011 (excl NZ IFRS 9, 10, 11 & 13 & NZ IAS 27) |
1 Jul 2009 | Additional material | |
|
Non-current Assets Held for Sale and Discontinued Operations |
Nov 2004 | 31 Dec 2011 (excl NZ IFRS 9, 11 & 13) | 1 Jul 2012 | Additional material | |
| Nov 2004 | 30 Jun 2011 (excl NZ IFRS 9, 11 & 13) | 1 Jul 2009 | Additional material | ||
| Nov 2004 | Nov 2007 | 1 Jan 2009 | Additional material | ||
|
Exploration for and Evaluation of Mineral Resources |
Apr 2005 | 30 Jun 2011 | 1 Jan 2009 | Additional material | |
|
Financial Instruments: Disclosures |
Nov 2005 | 31 Dec 2011 (excl NZ IFRS 9) | 1 Jul 2012 | Additional material | |
|
Disclosures - Offsetting Financial Assets & Financial Liabilities (amendments to NZ IFRS 7) |
Feb 2012 | 1 Jan 2013 | 1 Jan 2013 | Additional material | |
| Nov 2005 | 30 Jun 2011 (excl NZ IFRS 9) |
1 Jul 2011, 1 Apr 2011, 1 Jan 2011 & 1 Jul 2010 |
Additional material | ||
| Nov 2005 | 30 Jun 2011 (excl NZ IFRS 9) |
1 Jul 2009 & 1 Jan 2009 |
Additional material | ||
|
Operating Segments |
Dec 2006 | 30 Jun 2011 | 1 Jan 2011, 1 Jul 2009 & 1 Jan 2009 |
Additional material | |
|
Financial Instruments |
Nov 2009 | 30 Jun 2011 (excl NZ IFRS 10, 11 & 13) | 1 Jan 2015 | Additional material | |
|
Mandatory Effective Date of NZ IFRS 9 & Transition Disclosures (amendments to NZ IFRS 9 & NZ IFRS 7) |
Feb 2012 | 1 Jan 2015 | Additional material | ||
|
Financial Instuments |
Nov 2010 | 30 Jun 2011 (excl NZ IFRS 10, 11 & 13) | 1 Jan 2015 | Additional material | |
|
Mandatory Effective Date of NZ IFRS 9 & Transition Disclosures (amendments to NZ IFRS 9 & NZ IFRS 7) |
Feb 2012 | 1 Jan 2015 | 1 Jan 2015 | Additional material | |
|
Consolidated Financial Statements |
Jun 2011 | 30 Jun 2011 | 1 Jan 2013 | Additional material | |
|
Joint Arrangements |
Jun 2011 | 30 Jun 2011 | 1 Jan 2013 | Additional material | |
|
Disclosure of Interests in Other Entities |
Jun 2011 | 30 Jun 2011 | 1 Jan 2013 | Additional material | |
|
Fair Value Measurement |
Jun 2011 | 30 Jun 2011 | 1 Jan 2013 | Additional material | |
|
Presentation of Financial Statements |
Nov 2007 | 31 Dec 2011 (excl NZ IFRS 9, 10 & 13) | 1 Jul 2012 | Additional material | |
| Nov 2007 | 30 Jun 2011 (excl NZ IFRS 9, 10 & 13) | 1 Jul 2011 | Additional material | ||
| Nov 2007 | 31 Oct 2010 (excl NZ IFRS 9) |
1 Jan 2011 | Additional material | ||
| Nov 2007 | 31 Dec 2009 (excl NZ IFRS 9) | 1 Jul 2009 & 1 Jan 2009 |
Additional material | ||
|
Inventories |
Nov 2004 | 30 Jun 2011 (excl NZ IFRS 9) |
1 Jan 2009 | Additional material | |
|
Statement of Cash Flows |
Nov 2004 | 30 Jun 2011 (excl NZ IFRS 10 & 11) | 1 Jul 2011 | Additional material | |
| Nov 2004 | 30 Oct 2010 | 1 Jul 2009 | Additional material | ||
|
Accounting Policies, Changes in Accounting Estimates and Errors |
Nov 2004 | 30 Jun 2011 (excl NZ IFRS 9 & 13) | 1 Jul 2011 | Additional material | |
| Nov 2004 | 30 Oct 2010 (excl NZ IFRS 9) |
1 Jan 2009 | Additional material | ||
|
Events after the Reporting Period |
Nov 2004 | 30 Jun 2011 (excl NZ IFRS 9) | 1 Jul 2009 | Additional material | |
| Nov 2004 | 30 Nov 2008 | 1 Jan 2009 | Additional material | ||
|
Construction Contracts |
Nov 2004 | 30 Jun 2011 | 1 Jan 2009 | Additional material | |
|
Income Taxes |
Nov 2004 | 31 Dec 2011 (excl NZ IFRS 9 & 11) | 1 Jul 2012 | Additional material | |
| Nov 2004 | 30 Jun 2011 (excl NZ IFRS 9 & 11) | 1 Jan 2012 & 1 Jul 2011 |
Additional material | ||
| NZ IAS 12 | Nov 2004 | 31 Dec 2009 (excl NZ IFRS 9) |
1 Jul 2009 & 1 Jan 2009 |
Additional material | |
|
Property, Plant and Equipment |
Nov 2004 | 30 Jun 2011 (excl NZ IFRS 13) |
1 Jul 2011 | Additional material | |
| Nov 2004 | 30 Nov 2008 | 1 Jan 2009 | Additional material | ||
|
Leases |
Nov 2004 | 30 Jun 2011 | 1 Jul 2010 & 1 Jan 2009 |
Additional material | |
|
Revenue |
Nov 2004 | 30 Jun 2011 (excl NZ IFRS 9) | 1 Jan 2009 | Additional material | |
|
Employee Benefits |
Aug 2011 | Aug 2011 | 1 Jan 2013 | Additional material | |
| Nov 2004 | 30 Jun 2011 (excl NZ IFRS 13) | 1 Jul 2009 & 1 Jan 2009 |
Additional material | ||
|
Accounting for Government Grants and Disclosure of Government Assistance |
Nov 2004 | 31 Dec 2011 (excl NZ IFRS 13) | 1 Jul 2012 | Additional material | |
| Nov 2004 | 30 Jun 2011 (excl NZ IFRS 13) | 1 Jul 2011 | Additional material | ||
| NZ IAS 20 | Nov 2004 | 31 Oct 2010 | 1 Jan 2009 | Additional material | |
|
The Effects of Changes in Foreign Exchange Rates |
Nov 2004 | 31 Dec 2011 (excl NZ IFRS 9, 10, 11 & 13) | 1 Jul 2012 | Additional material | |
| Nov 2004 | 30 Jun 2011 (excl NZ IFRS 9, 10, 11 & 13) | 1 Jul 2010 | Additional material | ||
| NZ IAS 21 | Nov 2004 | 30 Nov 2008 | 1 Jan 2009 | Additional material | |
|
Borrowing Costs (revised 2007) |
Jul 2007 | 30 Jun 2011 | 1 Jul 2009 & 1 Jan 2009 |
Additional material | |
|
Related Party Disclosures |
Nov 2009 | 30 Jun 2011 (excl NZ IFRS 10, 11 & 12) | 1 Jan 2011 | Additional material | |
| Nov 2004 | 30 Nov 2008 | 1 Jan 2009 | Additional material | ||
|
Accounting and Reporting by Retirement Benefit Plans |
Nov 2004 | 30 Jun 2011 | 1 Apr 2010 | ||
| Nov 2004 | 31 Dec 2009 | 1 Jan 2009 | |||
|
Separate Financial Statements |
Jun 2011 | 30 Jun 2011 | 1 Jan 2013 | Additional material | |
|
Consolidated and Separate Financial Statements |
Feb 2008 | 30 Jun 2011 (excl NZ IFRS 9) |
1 Jul 2009 & 1 Jan 2009 (Susperseded by NZ IFRS 10, Jan 2013) |
Additional material | |
|
Investments in Associates and Joint Ventures |
June 2011 | 30 Jun 2011 | 1 Jan 2013 | Additional material | |
|
Investments in Associates |
Nov 2004 | 30 Jun 2011 (excl NZ IFRS 9, 11, 12 & 13) |
1 Jul 2011 (Susperseded by NZ IAS 28 Investments in Associates and Joint Ventures, Jan 2013) |
Additional material | |
| NZ IAS 28 | Nov 2004 | 31 Oct 2009 (excl NZ IFRS 9) |
1 Jul 2010 | Additional material | |
| NZ IAS 28 | Nov 2004 | 31 Dec 2009 (excl NZ IFRS 9) |
1 Jul 2009 & 1 Jan 2009 |
Additional material | |
|
Financial Reporting in Hyperinflationary Economies |
Nov 2004 | 30 Jun 2011 | 1 Jan 2009 | Additional material | |
|
Interests in Joint Ventures |
Nov 2004 | 30 Jun 2011 (excl NZ IFRS 9 & 11) |
1 Jul 2011 (Superseded by NZ IFRS 11, Jan 2013) |
Additional material | |
| NZ IAS 31 | Nov 2004 | 31 Oct 2009 (excl NZ IFRS 9) |
1 Jul 2010 | Additional material | |
| NZ IAS 31 | Nov 2004 | 31 Dec 2009 (excl NZ IFRS 9) |
1 Jul 2009 & 1 Jan 2009 |
Additional material | |
|
Financial Instruments: Presentation |
Nov 2004 | 31 Dec 2011 (excl NZ IFRS 9 & 11) | 1 Jul 2012 | Additional material | |
|
Offsetting Financial Assets & Financial Liabilities (Amendments to NZ IAS 32) |
Feb 2012 | 1 Jan 2014 | 1 Jul 2012 | Additional material | |
| Nov 2004 | 30 Jun 2011 (excl NZ IFRS 9 & 11) | 1 July 2010 | Additional material | ||
| Nov 2004 | 31 Dec 2009 (excl NZ IFRS 9) |
1 Feb 2010 | Additional material | ||
| Nov 2004 | 30 Nov 2008 | 1 Jul 2009 & 1 Jan 2009 |
Additional material | ||
|
Earnings per Share |
Nov 2004 | 31 Dec 2011 (excl NZ IFRS 10, 11 & 13) | 1 Jul 2012 | Additional material | |
| Nov 2004 | 30 Jun 2011 (excl NZ IFRS 10, 11 & 13) |
1 Jul 2009 & 1 Jan 2009 |
Additional material | ||
|
Interim Financial Reporting |
Nov 2004 | 31 Dec 2011 (excl NZ IFRS 13) | 1 Jul 2012 | Additional material | |
| Nov 2004 | 30 Jun 2011 (excl NZ IFRS 13) |
1 Jul 2011 | Additional material | ||
| Nov 2004 | 31 Oct 2010 | 1 Jan 11 | Additional material | ||
| Nov 2004 | 30 Nov 2008 | 1 Jul 2009 & 1 Jan 2009 |
Additional material | ||
|
Impairment of Assets |
Nov 2004 | 30 Jun 2011 (excl NZ IFRS 9, 10, 11 & 13) | 1 Jan 2009 | Additional material | |
|
Provisions, Contingent Liabilities and Contingent Assets |
Nov 2004 | 30 Jun 2011 | 1 Jan 2009 | Additional material | |
|
Intangible Assets |
Nov 2004 | 30 Jun 2011 | 1 Jul 2009 | Additional material | |
|
Financial Instruments: Recognition and Measurement |
Nov 2004 | 30 Jun 2011 (excl NZ IFRS 9) |
1 Jul 2010, 1 Jul 2009 & 1 Jan 2009 |
Additional material | |
|
Investment Property |
Nov 2004 | 30 Jun 2011 (excl NZ IFRS 13) |
1 Jul 2011 | Additional material | |
| NZ IAS 40 | Nov 2004 | 31 Oct 2010 | 1 Jan 2009 | Additional material | |
|
Agriculture |
Nov 2004 | 30 Jun 2011 | 1 Jan 2009 | Additional material | |
|
Prospective Financial Statements |
Dec 2005 | 31 Dec 2011 | 1 Jul 2012 | ||
|
Prospective Financial Statements |
Dec 2005 | 30 Jun 2011 | 1 Jul 2009 & 1 Jan 2009 |
||
|
Summary Financial Statements |
May 2007 | 31 Dec 2011 | 1 Jul 2012 | ||
|
Summary Financial Statements |
May 2007 | 30 Jun 2011 | 1 Jan 2012 | ||
| May 2007 | 31 Oct 2010 | 1 Jul 2009 & 1 Jan 2009 |
|||
|
New Zealand Additional Disclosures |
Apr 2011 | 30 Jun 2011 | 1 Jul 2011 | ||
|
Changes in Existing Decommissioning, Restoration and Similar Liabilities |
Nov 2004 | 30 Jun 2011 | 1 Jan 2009 | Additional material | |
|
Members’ Shares in Co-operative Entities and Similar Instruments |
Apr 2005 | 30 Jun 2011 | 1 Jan 2009 | Additional material | |
|
Determining whether an Arrangement contains a Lease |
Apr 2005 | 30 Jun 2011 | 1 Jan 2008 | Additional material | |
|
Rights to Interests arising from Decommissioning, Restoration and Environmental Rehabilitation Funds |
Nov 2004 | 30 Jun 2011 | 1 Jan 2007 | Additional material | |
|
Liabilities arising from Participation in a Specific Market—Waste Electrical and Electronic Equipment |
Oct 2005 | 30 Jun 2011 | 1 Jan 2007 | Additional material | |
|
Applying the Restatement Approach under NZ IAS 29 Financial Reporting in Hyperinflationary Economies |
Dec 2005 | 30 Jun 2011 | 1 Jan 2009 | Additional material | |
| NZ IFRIC 8 | Scope of NZ IFRS 2 | Feb 2006 | 30 Nov 2008 | 1 Jan 2007 (Superseded by Group Cash-settled Share-based Payment Transactions, Jan 2010) |
Additional material |
|
Reassessment of Embedded Derivatives |
May 2006 | 30 Jun 2011 (excl NZ IFRS 9 & 11) |
1 Jul 2009 & 30 Jun 2009 (Superseded by NZ IFRS 9 (2010), Jan 2013) |
Additional material | |
| May 2006 | 30 Nov 2008 | 1 Jan 2009 | Additional material | ||
|
Interim Financial Reporting and Impairment |
Sep 2006 | 30 Jun 2011 (excl NZ IFRS 9) | 1 Jan 2009 | Additional material | |
| NZ IFRIC 11 | NZ IFRS 2 - Group and Treasury Share Transactions | Dec 2006 | 30 Nov 2008 | 1 Mar 2007 (Superseded by Group Cash-settled Share-based Payment Transactions, Jan 2010) |
|
|
Service Concession Arrangements |
Mar 2007 | 30 Jun 2011 (excl NZ IFRS 9) | 1 Jan 2009 | Additional material | |
|
Customer Loyalty Programmes |
Sep 2007 | 30 Jun 2011 | 1 Jan 2011 | Additional material | |
| Sep 2007 | 30 Nov 2008 | 1 Jul 2008 | Additional material | ||
|
NZ IAS 19—The Limit on a Defined Benefit Asset, Minimum Funding Requirements and their Interaction |
Sep 2007 | 30 Jun 2011 | 1 Jan 2011 | Additional material | |
| Sep 2007 | 30 Nov 2008 | 1 Jan 2009 | Additional material | ||
|
Agreements for the Construction of Real Estate |
Aug 2008 | 30 Jun 2011 | 1 Jan 2009 | Additional material | |
|
Hedges of a Net Investment in a Foreign Operation |
Aug 2008 | 30 Jun 2011 | 1 Jul 2009 | Additional material | |
|
Distributions of Non-cash Assets to Owners |
Dec 2008 | 30 Jun 2011 | 1 Jul 2009 | Additional material | |
|
Transfers of Assets from Customers |
Feb 2009 | 30 Jun 2011 | Transfers on or after 1 Jul 2009 |
Additional material | |
|
Extinguishing Financial Liabilities with Equity Instruments |
Dec 2009 | 30 Jun 2011 | 1 Jul 2010 | Additional material | |
|
Stripping Costs in the Production Phase of a Surface Mine |
Dec 2011 | Dec 2011 | 1 Jan 2013 | Additional material | |
|
Introduction of the Euro |
Nov 2004 | 30 Jun 2011 | 1 Jul 2009 & 1 Jan 2009 |
Additional material | |
|
Government Assistance—No Specific Relation to Operating Activities |
Nov 2004 | 30 Jun 2011 | 1 Jan 2009 | Additional material | |
|
Consolidation—Special Purpose Entities |
Nov 2004 | 1 Jul 2011 | 1 Jan 2007 (Superseded by NZ IFRS 10, Jan 2013) |
Additional material | |
|
Jointly Controlled Entities—Non-Monetary Contributions by Venturers |
Nov 2004 | 30 Jun 2011 | 1 Jan 2009 | Additional material | |
|
Operating Leases—Incentives |
Nov 2004 | 30 Jun 2011 | 1 Jan 2007 | Additional material | |
|
Income Taxes—Recovery of Revalued Non-Depreciable Assets |
Nov 2004 | 30 Jun 2011 | 1 Jan 2009 (Superseded by Deferred Tax: Recovery of Underlying Assets, Jan 2012) |
Additional material | |
|
Income Taxes—Changes in the Tax Status of an Entity or its Shareholders |
Nov 2004 | 30 Jun 2011 | 1 Jan 2009 | Additional material | |
|
Evaluating the Substance of Transactions Involving the Legal Form of a Lease |
Nov 2004 | 30 Jun 2011 | 1 Jan 2009 | Additional material | |
|
Service Concession Arrangements: Disclosures |
Nov 2004 | 30 Jun 2011 | 1 Jan 2008 | Additional material | |
|
Revenue—Barter Transactions Involving Advertising Services |
Nov 2004 | 30 Jun 2011 | 1 Jan 2007 | Additional material | |
|
Intangible Assets—Web Site Costs |
Nov 2004 | 30 Jun 2011 | 1 Jan 2009 | Additional material | |