New Zealand issues ‘For-Profit’ standards

  • New Zealand Image

06 Jun 2014

The New Zealand External Reporting Board (XRB) and New Zealand Accounting Standards Board (NZASB) have issued two for-profit accounting standards on joint operations and hedge accounting disclosures.

The new standards are: (1) Accounting for Acquisitions of Interests in Joint Operations (Amendments to NZ IFRS 11), which addresses how a joint operator accounts for the acquisition of an interest in a joint operation in which the activity of the joint operation constitutes a business, and (2) RDR Hedge Accounting Disclosures (Amendments to NZ IFRS 9 (2013)), which provides disclosure concessions for Tier 2 for-profit entities that apply the hedge accounting requirements in NZ IFRS 9 (2013). 

The standards are available on the XRB’s website.

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.