Proposed accounting standard for revenue – ED PBE IPSAS 47 Revenue
Exposure Draft (ED) PBE IPSAS 47 Revenue proposes new accounting requirements for revenue transactions. The proposed standard aims to provide a robust framework for revenue recognition by enhancing consistency and transparency.
The proposed PBE IPSAS 47 Revenue would supersede PBE IPSAS 9 Revenue from Exchange Transactions, PBE IPSAS 11 Construction Contracts, and PBE IPSAS 23 Revenue from Non-Exchange Transactions.
About ED PBE IPSAS 47 Revenue
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ED PBE IPSAS 47 is a single source for revenue accounting guidance for Tier 1 and Tier 2 public benefit entities (PBE). The proposals present two accounting models based on the existence of a binding arrangement. This new standard provides focused guidance to help entities apply the principles to account for all PBE revenue transactions. The ED proposes that PBE IPSAS 47 Revenue be applied for annual financial statements covering periods beginning on or after 1 January 2029. |
Our exposure draft and accompanying consultation document detail the proposals
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View our proposals for transfer expense accounting here.
To allow entities ample time to consider the implications of the proposed standard, this consultation will be open until 1 December 2025.
Educational guidance and support
One of the key benefits of this proposed standard is the inclusion of clear guidance, supported by 56 illustrative examples, aimed at enhancing consistency in accounting for revenue transactions.
We have created a fact sheet and short webcasts summarising key concepts included in the proposed ED.
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Further educational guidance and support materials will be made available over the course of the consultation — please revisit this page for the latest material.
Upcoming events
We will discuss these new proposals at upcoming Need to Know webinars. You can register using the links below:
Keep an eye on this page for details of further events and feedback opportunities that will be added throughout the consultation period.
Have your say
We welcome your feedback on these important proposals.
Submit your comments:
- Directly to the XRB by email to accounting@xrb.govt.nz; or
- Complete the form below.
The consultation closes on Monday 1 December 2025.
All submissions will be published on the XRB website unless confidentiality is requested. If you object to the release of any information in your submission, please identify the specific parts and the reasons under the Official Information Act 1982. We reserve the right not to publish defamatory submissions. Submissions are subject to the Official Information Act 1982 and the Privacy Act 2020. The XRB will handle personal information in accordance with these Acts.