NZ IAS 1
Presentation of Financial Statements
Prescribes the basis for presentation of general purpose financial statements.
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.