This model annual report has been designed by Deloitte to assist clients, partners and staff with the preparation of annual financial statements by a parent and group under New Zealand equivalents to International Financial Reporting Standards ('NZ IFRS') for periods beginning on or after 1 January 2009.
Green Dot Holdings Limited is assumed to have presented financial statements in accordance with NZ IFRS for a number of years. Therefore, this is not a first time adopter of NZ IFRS. Readers should refer to NZ IFRS 1 First-time Adoption of New Zealand equivalents to International Financial Reporting Standards for specific requirements regarding an entity’s first NZ IFRS financial statements, and to the IFRS 1 section of Deloitte’s Presentation and Disclosure Checklist for details of the particular disclosure requirements applicable for first-time adopters.
These model financial statements are an illustrative example of general purpose financial statements prepared in accordance with:
They include the impact of some significant new disclosure Standards which are mandatory for the first time for annual periods ending on 31 December 2009, including NZ IAS 1 Presentation of Financial Statements (2007) and NZ IFRS 8 Operating Segments.
We have also included some discussion and examples of other matters that would typically be included in an entity's annual report, including:
The model annual report comprises the following sections:
Section A - Reporting obligations
This section provides background information regarding the reporting requirements and legislative framework in New Zealand.
Section B - Model annual report
This section contains model annual report disclosures and commentaries, including subjects such as corporate governance, the Companies Act 1993 disclosures and stock exchange disclosures.
Section C - Model financial statements
This section contains the model financial statements of Green Dot Holdings Limited, for the year ended 31 December 2009.
Section C is also available in Word: click here
Section D - Other information
This section contains additional tools for users, including a listing of each NZ IFRS which is applicable for the year ended 31 December 2009, what is required in an NZX preliminary announcement, and a timeline of critical reporting dates for entities with a 31 December 2009 reporting date.
Appendix - NZ IFRS 3 Business Combinations (revised 2008) and NZ IAS 27 Consolidated and Separate Financial Statements (revised 2008)
This provides an overview of the impact of adopting these revised standards, and an illustration of the type of disclosures that will be required.