This second edition of Making the Change compares International Financial Reporting Standards to pre-change NZ GAAP and highlights the modifications made to measurement and recognition criteria (including differential reporting requirements) in arriving at the New Zealand Equivalents to International Financial Reporting Standards. Pronouncements approved by the IASB and ASRB up to 31 January 2006 have been included in this edition.
The purpose of Making the Change is to outline the major differences in measurement between IFRS, NZ IFRS and pre-change NZ GAAP commonly found in practice. While the comparison is at a high level and does not purport to identify all differences, it will assist you in your planning for the impending adoption of NZ IFRS.
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