Old GAAP Standards

Old generally-accepted accounting practice (GAAP) refers to accounting standards that certain for-profit and public benefit entities were permitted to apply for reporting periods beginning on or before 30 November 2012.

New Zealand Financial Reporting Standards approved as applicable accounting standards

NumberName

FRS-1

Disclosure of Accounting Policies

FRS-2

Presentation of Financial Reports

FRS-3

Accounting for Property, Plant and Equipment

FRS-4

Accounting for Inventories

FRS-5

Events After Balance Date

FRS-7

Extraordinary Items and Fundamental Errors

FRS-9

Information to be Disclosed in Financial Statements

FRS-10

Statement of Cash Flows

FRS-13

Accounting for Research and Development Activities

FRS-14

Accounting for Construction Contracts

FRS-15

Provisions, Contingent Liabilities and Contingent Assets

FRS-19

Accounting for Goods and Services Tax

FRS-20

Accounting for Shares Issued under a Dividend Election Plan

FRS-21

Accounting for the Effects of Changes in Foreign Currency Exchange Rates

FRS-24

Interim Financial Statements

FRS-26

Accounting for Defeasance of Debt

FRS-27

Right of Set-off

FRS-29

Prospective Financial Information (superseded by FRS-42 Prospective Financial Statements)

FRS-30

ReportingShare Ownership Arrangements Including Employee Share Ownership Plans

FRS-32

Financial Reporting by Superannuation Schemes

FRS-33

Disclosure of Information by Financial Institutions

FRS-34

Life Insurance Business

FRS-35

Financial Reporting of Insurance Activities

FRS-36

Accounting for Acquisitions Resulting in Combinations of Entities or Operations

FRS-37

Consolidating Investments in Subsidiaries

FRS-38

Accounting for Investments in Associates

FRS-39

Summary Financial Reports

FRS-40

Transitional Arrangements for the Early Adoption of the New Zealand Equivalent to IAS 19 Employee Benefits

FRS-41

Disclosing the Impact of Adopting New Zealand Equivalents to International Financial Reporting Standards

FRS-42

Prospective Financial Statements


Pronouncements that have authoritative support within the accounting profession in New Zealand as at 1 July 2007

NumberName

SSAP-3

Accounting for Depreciation

SSAP-6

Materiality in Financial Statements

SSAP-12

Accounting for Income Tax

SSAP-17

Accounting for Investment Properties and Properties Intended for Sale

SSAP-18

Accounting for Leases and Hire Purchase Contracts

SSAP-21

Accounting for the Effects of Changes in Foreign Currency Exchange Rates

SSAP-22

Related Party Disclosures

SSAP-23

Financial Reporting for Segments

SSAP-25

Accounting for Interests in Joint Ventures and Partnerships

FRS-31

Disclosure of Information about Financial Instruments