This site uses cookies to provide you with a more responsive and personalised service. By using this site you agree to our use of cookies. Please read our cookie notice for more information on the cookies we use and how to delete or block them.
The full functionality of our site is not supported on your browser version, or you may have 'compatibility mode' selected. Please turn off compatibility mode, upgrade your browser to at least Internet Explorer 9, or try using another browser such as Google Chrome or Mozilla Firefox.

New accounting alert from Deloitte New Zealand

  • New Zealand Image

19 Mar 2009

Deloitte New Zealand has published a 'What's New Alert' that reviews all of the new and revised pronouncements that either are to be applied for the first time at 31 March 2009, or which may be early adopted at that date.

The What's New Alert (PDF 127k) summarises a current exposure draft that may be approved with retrospective effective dates before an entity's financial statements for 31 March 2009 are authorised for issue. The Alert identifies two 'big picture issues' for March 2009:

  • The impact of the 'credit crunch' on financial reporting, including such areas as fair value and impairment, classification of debt as current or non-current, foreign exchange exposures, and associated disclosure requirements.
  • Whether piecemeal early adoption of the standards comprising 'the next wave of IFRS' should be considered, or left to a 'big bang' for 2009/10 periods. These include new or revised standards on segment reporting, borrowing costs, financial statement presentation, share-based payment, business combinations, and consolidated and separate financial statements.

Related Topics

Correction list for hyphenation

These words serve as exceptions. Once entered, they are only hyphenated at the specified hyphenation points. Each word should be on a separate line.