For-profit standards


For-profit entities must apply these current accounting standards (NZ IFRS, NZ IAS, FRS), interpretations (NZ IFRIC, NZ SIC) and other pronouncements issued by the XRB Board or the NZASB for periods beginning on or after 1 December 2012.

Tier 1 & 2


  • NZ IAS 16 Property, Plant and Equipment
  • NZ IAS 17 Leases
  • NZ IAS 18 Revenue
  • NZ IAS 19 Employee Benefits
  • NZ IAS 20 Accounting for Government Grants and Disclosure of Government Assistance
  • NZ IAS 21 The Effects of Changes in Foreign Exchange Rates
  • NZ IAS 23 Borrowing Costs
  • NZ IAS 24 Related Party Disclosures
  • NZ IAS 26 Accounting and Reporting by Retirement Benefit Plans
  • NZ IAS 27 Separate Financial Statements
  • NZ IAS 28 Investments in Associates and Joint Ventures
  • NZ IAS 29 Financial Reporting in Hyperinflationary Economies
  • NZ IAS 32 Financial Instruments: Presentation
  • NZ IAS 33 Earnings per Share
  • NZ IAS 34 Interim Financial Reporting
  • NZ IAS 36 Impairment of Assets
  • NZ IAS 37 Provisions, Contingent Liabilities and Contingent Assets
  • NZ IAS 38 Intangible Assets
  • NZ IAS 39 Financial Instruments: Recognition and Measurement
  • NZ IAS 40 Investment Property
  • NZ IAS 41 Agriculture
  • FRS-42 Prospective Financial Statements
  • FRS-43 Summary Financial Statements
  • FRS-44 New Zealand Additional Disclosures
  • NZ IFRIC 6 Liabilities arising from Participation in a Specific Market—Waste Electrical and Electronic Equipment


  • NZ IFRIC 1 Changes in Existing Decommissioning, Restoration and Similar Liabilities
  • NZ IFRIC 2 Members’ Shares in Co-operative Entities and Similar Instruments
  • NZ IFRIC 4 Determining whether an Arrangement contains a Lease
  • NZ IFRIC 5 Rights to Interests arising from Decommissioning, Restoration and Environmental Rehabilitation Funds
  • NZ IFRIC 7 Applying the Restatement Approach under NZ IAS 29 Financial Reporting in Hyperinflationary Economies
  • NZ IFRIC 9 Reassessment of Embedded Derivatives
  • NZ IFRIC 10 Interim Financial Reporting and Impairment
  • NZ IFRIC 12 Service Concession Arrangements
  • NZ IFRIC 13 Customer Loyalty Programmes
  • NZ IFRIC 14 NZ IAS 19 — The Limit on a Defined Benefit Asset, Minimum Funding Requirements and their Interaction
  • NZ IFRIC 15 Agreements for the Construction of Real Estate
  • NZ IFRIC 16 Hedges of a Net Investment in a Foreign Operation
  • NZ IFRIC 17 Distributions of Non-cash Assets to Owners
  • NZ IFRIC 18 Transfers of Assets from Customers
  • NZ IFRIC 19 Extinguishing Financial Liabilities with Equity Instruments
  • NZ IFRIC 20 Stripping Costs in the Production Phase of a Surface Mine
  • NZ IFRIC 21 Levies
  • NZ IFRIC 22 Foreign Currency Transactions and Advance Consideration
  • NZ IFRIC 23 Uncertainty over Income Tax Treatments
  • NZ SIC-7 Introduction of the Euro
  • NZ SIC-10 Government Assistance—No Specific Relation to Operating Activities
  • NZ SIC-15 Operating Leases—Incentives
  • NZ SIC-25 Income Taxes—Changes in the Tax Status of an Entity or its Shareholders
  • NZ SIC-27 Evaluating the Substance of Transactions Involving the Legal Form of a Lease
  • NZ SIC-29 Service Concession Arrangements: Disclosures
  • NZ SIC-31 Revenue—Barter Transactions Involving Advertising Services
  • NZ SIC-32 Intangible Assets—Web Site Costs