Standards for Public Sector Public Benefit Entities After 1 July 2014

This page contains the accounting standards and other pronouncements to be applied by public sector public benefit entities (PS PBEs) preparing general purpose financial reports for periods beginning on or after 1 July 2014.  The Accounting Standards and other pronouncements for periods beginning on or before 30 June 2014 are on a different page.

The page contains:

Accounting Standards and Other Documents for Tier 1 and Tier 2

Accounting Standards for Tier 1 and Tier 2

Standard Title Issued Date compiled to Effective Date
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 A standard also applies to subsequent annual reporting periods until that standard is superseded by a new/amended/revised standard.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 (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 A1 (FP Entities + PS PBEs + NFPs Update)

Accounting Standards Framework (For-profit Entities plus Public Sector Public Benefit Entities plus Not-for-profit Entities Update)

Nov 2013 31 Mar 2014 1 Apr 2015
XRB A2

Standard XRB A2 Meaning of Specified Statutory Size Thresholds

Feb 2014 1 April 2014
Legislative Amendments

Amendments to Accounting Standards: Omnibus Amendments (Legislative Update)

Feb 2014 1 July 2014
PBE IPSAS 1

Presentation of Financial Statements

May 2013 28 Feb 2014 1 July 2014
PBE IPSAS 2

Cash Flow Statements

May 2013 1 July 2014
PBE IPSAS 3

Accounting Policies, Changes in Accounting Estimates and Errors

May 2013 1 July 2014
PBE IPSAS 4 The Effects of Changes in Foreign Exchange Rates May 2013 1 July 2014

PBE IPSAS 5

Borrowing Costs

May 2013 1 July 2014

PBE IPSAS 6

Consolidated and Separate Financial Statements May 2013 1 July 2014

PBE IPSAS 7

Investments in Associates

May 2013 1 July 2014
PBE IPSAS 8 Interests in Joint Ventures May 2013 1 July 2014

PBE IPSAS 9

Revenue from Exchange Transactions

May 2013 1 July 2014
PBE IPSAS 10 Financial Reporting in Hyperinflationary Economies May 2013 1 July 2014

PBE IPSAS 11

Construction Contracts

May 2013 1 July 2014

PBE IPSAS 12

Inventories May 2013 1 July 2014

PBE IPSAS 13

Leases

May 2013 1 July 2014

PBE IPSAS 14

Events After the Reporting Date

May 2013 1 July 2014

PBE IPSAS 16

Investment Property May 2013 1 July 2014

PBE IPSAS 17

Property, Plant and Equipment May 2013 1 July 2014

PBE IPSAS 19

Provisions, Contingent Liabilities and Contingent Assets May 2013 1 July 2014

PBE IPSAS 20

Related Party Disclosures May 2013 1 July 2014

PBE IPSAS 21

Impairment of Non-Cash-Generating Assets

May 2013 1 July 2014

PBE IPSAS 22

Disclosure of Information About the General Government Sector

May 2013 1 July 2014

PBE IPSAS 23

Revenue from Non-Exchange Transactions

May 2013 1 July 2014

PBE IPSAS 25

Employee Benefits May 2013 1 July 2014

PBE IPSAS 26

Impairment of Cash-Generating Assets

May 2013 1 July 2014

PBE IPSAS 27

Agriculture

May 2013 1 July 2014

PBE IPSAS 28

Financial Instruments: Presentation

May 2013 1 July 2014

PBE IPSAS 29

Financial Instruments: Recognition and Measurement May 2013 1 July 2014

PBE IPSAS 30

Financial Instruments: Disclosures May 2013 1 July 2014

PBE IPSAS 31

Intangible Assets May 2013 1 July 2014

PBE IPSAS 32

Service Concession Arrangements: Grantor

May 2013 1 July 2014

PBE IFRS 3

Business Combinations May 2013 1 July 2014

PBE IFRS 4

Insurance Contracts

May 2013 1 July 2014

PBE IFRS 5

Non-current Assets Held for Sale and Discontinued Operations May 2013 1 July 2014

PBE IAS 12

Income Taxes

May 2013 1 July 2014

PBE IAS 34

Interim Financial Reporting May 2013 28 Feb 2014 1 July 2014
PBE FRS 42 Prospective Financial Statements May 2013 28 Feb 2014 1 July 2014

PBE FRS 43

Summary Financial Statements

May 2013 1 July 2014
PBE FRS 45 Service Concession Arrangements: Operator May 2013 1 July 2014
PBE FRS 46

First-time Adoption of PBE Standards by Entities Previously Applying NZ IFRSs

May 2013 1 July 2014

PBE FRS 47

First-time Adoption of PBE Standards by Entities Other Than Those Previously Applying NZ IFRSs

May 2013 1 July 2014
Glossary - The Glossary contains terms defined in PBE Standards

Authoritative Notices for Tier 1 and Tier 2

Pronouncements

Title

Issued

Effective Date

PBE Framework Public Benefit Entities' Framework March 2014 1 July 2014

Explanatory Material for Tier 1 and Tier 2

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

Explanatory Material 

Title

Issued

Relevant to reporting periods beginning on or after 
Table of Differences Differences between Standards for Tier 1 For-Profit Entities and Tier 1 Public Benefit Entities Mar 2014
EG A1 (FP Entities + PS PBEs Update) Accounting Standards Framework (For-Profit Entities Plus Public Sector Public Benefit Entities Update) May 2013 1 July 2014
EG A1 (FP Entities + PS PBEs + NFPs Update) Accounting Standards Framework (For-Profit Entities Plus Public Sector Public Benefit Entities Plus Not-For Profit Update) Feb 2014 1 Apr 2015
EG A2 Overview of the Accounting Standard Setting Process July 2011 1 July 2011
EG A7 Explanatory Guide: Materiality for Public Benefit Entities May 2014 1 July 2014
Impact Assessment Public Benefit Entity Standards Impact Assessment for Public Sector PBEs Nov 2013
IPSASB RPG 1 Reporting on the Long-Term Sustainability of an Entity's Finances
IPSASB RPG 2 Financial Statement Discussion and Analysis

Accounting Standards and Other Documents for Tier 3

Accounting Standards for Tier 3

~
Standard Title Issued Date compiled to Effective Date
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 (FP Entities + PS PBEs Update)

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

May 2013 31 Mar 2014 1 July 2014
XRB A1 (FP Entities + PS PBEs + NFPs Update)

Accounting Standards Framework (For-Profit Entities plus Public Sector Public Benefit Entities plus Not-For-Profit Entities Update)

Nov 2013 31 Mar 2014 1 April 2015
XRB A2 Standard XRB A2 Meaning of Specified Statutory Size Thresholds Feb 2014 1 April 2014
PBE SFR-A (PS)

Public Benefit Entity Simple Format Reporting - Accrual (Public Sector)

Nov 2013 1 July 2014

Authoritative Notices for Tier 3

Pronouncements

Title

Issued

Effective Date

PBE Framework Public Benefit Entities' Framework March 2014 1 July 2014

Explanatory Material for Tier 3

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

Explanatory Material

Title

Issued

Relevant to reporting periods beginning on or after 
EG A1 (FP Entities + PS PBEs Update) Explanatory Guide: Accounting Standards Framework (For-Profit Entities plus Public Sector Public Benefit Entities Update) Feb 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) Feb 2014 1 Apr 2015
EG A2 Overview of the Accounting Standard Setting Process July 2011 1 July 2011
EG A3 Optional Template and Associated Guidance Notes for Applying Public Benefit Entity Simple Format Reporting - Accrual (Public Sector) Nov 2013 1 July 2014
XLSX Template Template for PBE SFR-A (PS) - XLSX version Nov 2013 1 July 2014
XLS Template Template for PBE SFR-A (PS) - XLS version Nov 2013 1 July 2014
PDF Template Template for PBE SFR-A (PS) - PDF version Nov 2013 1 July 2014

Accounting Standards and Other Documents for Tier 4

Accounting Standards for Tier 4

Standard Title Issued Date compiled to Effective Date
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 (FP Entities + PS PBEs Update)

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

May 2013 31 Mar 2014 1 July 2014
XRB A1 (FP Entities + PS PBEs + NFPs Update)

Accounting Standards Framework (For-Profit Entities plus Public Sector Public Benefit Entities plus Not-For-Profit Entities Update)

Nov 2013 31 Mar 2014 1 April 2015
XRB A2 Standard XRB A2 Meaning of Specified Statutory Size Thresholds Feb 2014 1 April 2014
PBE SFR-C (PS)

Public Benefit Entity Simple Format Reporting - Cash (Public Sector)

Dec 2013
1 July 2014

Explanatory Material for Tier 4

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

Explanatory Material

Title

Issued

Relevant to reporting periods beginning on or after 
EG A1 (FP Entities + PS PBEs Update) Explanatory Guide: Accounting Standards Framework (For-Profit Entities plus Public Sector Public Benefit Entities Update) Feb 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) Feb 2014 1 Apr 2015
EG A2 Overview of the Accounting Standard Setting Process July 2011 1 July 2011
EG A4 Guidance: Optional Template and Associated Guidance Notes for Applying Public Benefit Entity Simple Format Reporting - Cash (Public Sector) Nov 2013 1 July 2014
XLSX Template Template for PBE SFR-C (PS) - XLSX version Nov 2013 1 July 2014
XLS Template Template for PBE SFR-C (PS) - XLS version Nov 2013 1 July 2014
PDF Template Template for PBE SFR-C (PS) - PDF version Nov 2013 1 July 2014

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
Feedback Statement: XRB A1 (For-profit Entities plus Public Sector Public Benefit Entities plus Not-for-profit Entities Update) Nov 2013
Feedback Statement: PBE SFR-A (PS) Nov 2013
Feedback Statement: PBE SFR-C (PS) Nov 2013
Feedback Statement: XRB A1 (For-Profit Entities Plus Public Sector Public Benefit Entities Update) May 2013
Feedback Statement: PBE Standards and PBE Framework May 2013

 

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