Accounting Alert - Quarterly update June 2009What's new in financial reporting for June 2009? |
We have updated our “What’s New” publication for entities with reporting periods ending on 30 June 2009 (annual or interim periods), so if your reporting period ends on 30 June 2009 you can use the attachment to perform a quick check that all the new and revised financial reporting requirements have been considered as part of your reporting close process. This publication includes tables which outline new and revised pronouncements that either are to be applied for the first time at 30 June 2009, or which may be early adopted at that date.
A number of new requirements comprising ‘the next wave of IFRS’ become applicable for interim financial statements at 30 June 2009, including those in relation to:
- segment reporting
- borrowing costs
- financial statement presentation
- share based payments
For annual periods ending 30 June 2009, entities should consider whether to piecemeal early adopt the above changes, or leave them to a ‘big bang’ for 2009/10 periods.
We hope you find this information useful, and we look forward to bringing you further NZ IFRS updates in 2009.
Accounting Alert - Quarterly update June 2009
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