NZ IAS 1

Presentation of Financial Statements

Prescribes the basis for presentation of general purpose financial statements.

  • NZ IAS 1 – This version is effective for reporting periods beginning on or after
    1 Jan 2023 (early application permitted)

    Date of issue: Nov 2012

    Date compiled to: Jan 2022 (excludes Classification of Liabilities as Current or Non-current, and Classification of Liabilities as Current or Non-current – Deferral of Effective Date)

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Amendments

  • Non-current Liabilities with Covenants

    Date of issue: May 2023

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Commencement and Application

Except for paragraphs NZ 139U.1 – NZ 139U.2 and the amendments to paragraph 139U, application of the amendments is required for accounting periods beginning on or after 1 January 2024. Application is permitted for accounting periods that begin before 1 January 2024 but have not ended or do not end before 22 June 2023.

Application of paragraphs NZ 139U.1 – NZ 139U.2 and the amendments to paragraph 139U (which concern the commencement and application of the amending standard Classification of Liabilities as Current or Non-current) is required from 22 June 2023 onwards.

 

  • Classification of Liabilities as Current or Non-current—Deferral of Effective Date – This version is effective for reporting periods beginning on or after 1 Jan 2022 (early adoption permitted). The amendments defer the effective date of Classification of Liabilities as Current or Non-current from 1 January 2022 to 1 January 2023. 

    Date of issue: Aug 2020

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  • Classification of Liabilities as Current or Non-current – These amendments are effective for reporting periods beginning on or after
    1 Jan 2022 (early adoption permitted)

    Date of issue: Apr 2020

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Previous version

  • NZ IAS 1 – This version is effective for reporting periods beginning on or after
    1 Jan 2020 (early adoption permitted)

    Date of issue: Nov 2012

    Date compiled to: Jan 2021 (excludes NZ IFRS 17, Amendments to NZ IFRS 17, Classification of Liabilities as Current or Non-current, and Classification of Liabilities as Current or Non-current—Deferral of Effective Date)

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Standards