Our Illustrative disclosures – Guide to annual financial statements help you to prepare financial statements in accordance with the New Zealand equivalents to International Financial Reporting Standards (NZ IFRS).
This guide has been produced by KPMG International Standards Group (part of KPMG IFRG Limited) and has been adapted by KPMG New Zealand’s Accounting Advisory Services team to serve as a “best practice” set of financial statements for a full reporting (i.e. Tier 1) profit oriented entity in New Zealand. It uses a fictitious company to illustrate how financial statements should be prepared and presented in accordance with NZ IFRS.
This guide also includes the disclosure requirements of the NZ IFRS Reduced Disclosure Regime (NZ IFRS RDR).
This guide should not be used as boiler plate templates. The preparation of your own financial statements requires judgement, in terms of the choice of accounting policies, how the disclosures should be tailored to reflect your specific circumstances, and the materiality of disclosures in the context of your organisation.
Each guide reflects NZ IFRSs that have been published by a specified date and are required to be applied by an entity with a specified annual period – e.g. standards in issue at 31 December 2025 that are required to be applied by an entity with an annual period beginning on 1 January 2025.
We hope you will find this publication useful in putting into perspective the disclosure and presentation requirements of NZ IFRS and as a reference source in preparing your own financial statements.
If you have any queries on NZ IFRS or other financial reporting issues, KPMG will be happy to provide any assistance that you require. Please do not hesitate to contact Matthew Kinraid, Partner, or Simon Lee, National Technical Director, or your regular KPMG contact.
