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Issue No. Date PDF Size Subject March 2008 March 2008 121k Revised Standards change the accounting for business combinations NZ IAS 32 and NZ IAS 1 amended for pttable financial instruments and obligations arising on liquidation Amendment of IFRS 2 Share-based Payment clarifies vesting conditions and cancellations Revised NZ IAS 1 changes the presentation of financial statements Draft interpretations address distributions of non-cash assets to owners and customer contributions Issue 26 February 2005 190k This Alert discusses five accounting proposals from the New Zealand Financial Reporting Standards Board (FRSB): Exposure draft proposing an interim framework for differential reporting under the NZ IFRS reporting regime. Exposure draft proposing an amendment to NZ IAS 36 to cater for non-cash generating assets held by public benefit entities Exposure draft of IFRIC 3 on accounting for ‘cap and trade' schemes for emission rights IFRIC Draft Interpretation D10 on accounting for the liability that arises in relation to new legislation in Europe for waste electrical equipment IFRIC Draft Interpretation D11 on applying IFRS 2 to certain changes in employee share purchase plans. Issue 25 December 2004 136k The Alert details the adoption by The Accounting Standards Review Board (ASRB) and the Financial Reporting Standards Board (FRSB) of 36 new accounting standards and 12 interpretations. These are the New Zealand equivalents to International Financial Reporting Standards (NZ IFRS). Application of NZ IFRS is mandatory for periods beginning on or after 1 January 2007. Entities wishing to early adopt NZ IFRS may do so for periods beginning on or after 1 January 2005. The Alert includes a list of the approved standards and details of where to find them. Issue 24 September 2004 154k The September 2004 Alert summarises recent exposure drafts issued by the Financial Reporting Standards Board as part of the convergence process with International Financial Reporting Standards. Also included is an overview of a discussion paper Preliminary Views on Accounting Standards for Small and Medium-sized Entities and a list of the latest New Zealand Pending Accounting Standards. Issue 23 June 2004 181k Recent New Zealand exposure drafts of equivalents of IAS 30 and IAS 31, several recent IASB exposure drafts, IFRIC D6, exposure drafts of a proposed preface to New Zealand accounting standards and New Zealand Framework, and the process for developing accounting standards in New Zealand. Issue 22 May 2004 188k Four recent New Zealand exposure drafts that address employee benefit plans, consolidated and separate financial statements, special purpose entities, government grants, and the fair value option for financial instruments. Issue 21 April 2004 317k Two recent exposure draft: ED NZ IAS-32 Financial Instruments: Presentation and Disclosure and ED NZ IAS-39 Financial Instruments: Recognition and Measurement. Issue 20 March 2004 185k The review of the Financial Reporting Act 1993 currently being undertaken by the Ministry of Economic Development. Issue 19 March 2004 172k Recent exposure drafts, corporate governance, and stock exchange rules update are discussed in this Alert. Issue 18 January 2004 258k The New Zealand Financial Reporting Standards Board is continuing with its aim to have all IFRS applicable for 2005 adopters (released as NZ standards incorporating guidance for public benefit entities) finalised by June 2004. Towards this aim a further six exposure drafts were released at the end of 2003. They are discussed in this Alert. Issue 17 December 2003 145k This issue discusses the major changes to existing practice that would result from three convergence exposure drafts issued by the Financial Reporting Standards Board (those for IAS 11, IAS 16, and IAS 19) and summarises recent guidance on accounting by trusts. Issue 16 November 2003 179k Recent Exposure Drafts: ED NZ IAS-1: Presentation of Financial Statements, and ED NZ Interpretation SIC-29: Disclosure Service Concession Arrangements. Issue 15 September 2003 146k IFRS 1 – First-time Adoption of International Financial Reporting Standards; Recent Exposure Drafts; Proposed Amendment to FRS-29: Prospective Financial Information; Important Dates Issue 14 June 2002 55k Exposure Draft ED-91: Related Party Disclosures; Exposure Draft ED-90: Agriculture; Exposure Draft TPA-8: Accounting Issues re the Companies Act; Exposure Draft ED-89A: Summary Financial Reports; and Changes to FRS-3. Issue 13 December 2001 1,621k 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. Issue 12 July 2001 730k New Financial Reporting Standard FRS-3: Property, Plant and Equipment. Issue 11 February 2001 390k New rules for financial instruments; New rules on accounting for provisions; New financial reporting standard; The short (and the long) of it! - ED-89 Summary Financial Statements. Issue 10 1998 85k A new approach to the development of accounting standards - on trial!; To be or not to be? ED-87 is based on the corresponding International Accounting Standard, IAS-38 - Intangible Assests; IAS 37/ED-86 vs statement of concepts - you be the judge - contingent liabilities and cintingent assets; IAS 37/ED-86 - Provisions. Useful guidance on identification of obligations, discounting future cash flows, consideration of effect of expected future events and restructuring provisions. Issue 9 1998 49k At last - a life insurance accounting standard. Full details. Also, ED-85 - financial reporting of insurance activities. Issue 8 1998 68k ED-84 Misses the Mark; The end of 'pooling'; Goodwill amortisation; Examining the numbers; Goodwill measurement; Identifying a subsidiary; How serious are we about harmonisation? Issue 7 1998 45k Changes proposed by ED-82: Accounting for Property, Plant and Equipment; IAS19 - Employee benefits - authoritative support; auperannuation schemes: deadline for prospectus and investment statement extended. Issue 6 1998 69k FRS-21: Accounting for the effects of changes in foreign currency exchange rates; debt or equity; appointments to committees; accounting for investments in associates; new securities disclosure requirements; audit and filing requirements for foreign-owned companies; meaning of 'subsidiary' under Financial Reporting Act 1998. Issue 5 1997 46k Disclosure of information by financial institutions (FRS-33); Re-registration under the Companies Act 1993; Framework for differential reporting. Issue 4 1997 56k Directors' duties and responsibilities; Corporate Governance; deferred tax - quo vadis?; accounting for EDP year 2000 costs; Financial Reporting Standard 24 (FRS-24). 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