JUNE 2023
We share six things you need to consider for 30 June financial statements, including accounting in times of uncertainty, climate-related impacts, and new standards.
Entities subject to Pillar Two income taxes will not be permitted to recognise, or disclose information about, deferred tax assets and deferred tax liabilities related to Pillar Two income taxes.
For years beginning on or after 1 January 2024, Tier 1 entities will have to disclose information about the effects of supplier finance arrangements on liabilities and cash flows and the entity’s exposure to liquidity risk.
New publications
The Audit section of our website includes a range of publications on accounting standards issues. For example:
- Summaries on a Page (SOAPs) contain summaries of NZ IFRS Standards for for-profit entities and PBE Standards for public sector and not-for profit entities currently in effect in New Zealand.
- Illustrative model financial statements provide illustrative disclosures for entities reporting under New Zealand GAAP. New illustrative financial statements have been released for years ending 31 December 2022 for:
The BDO Global site includes resources such as: