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notes to the financial Statements
for the year ended 31 March 2012
New or revised Standards
At the authorisation of these financial statements, the following are the new or revised Standards or
Interpretations in issue that are not yet effective. Standards, amendments and interpretations to existing
standards that are not yet effective, have not been early adopted by the Group.
Financial statements for periods ending on 31 March 2012
The following are the new or revised Standards or Interpretations in issue that are not yet required to be
adopted by entities preparing financial statements for periods ending on 31 March 2012:
Standard/Interpretation
Effective for annual
Expected to be initially applied
reporting periods
in the financial year ending
beginning on or after
NZ IFRS 9 ‘Financial Instruments’
1 January 2013
31 March 2014
NZ IAS 1 ‘Amendments Presentation of items of
Comprehensive Income’
1 January 2012
31 March 2013
Amendments to NZ IFRS 7 ‘Financial Instruments
Disclosures’
1 July 2011
31 March 2013
Amendment to NZ IAS 12 ‘Income Taxes’ - Deferred Tax:
Recovery of Underlying Assets
1 January 2012
31 March 2013
NZ IFRS 10 ‘Consolidated Financial Statements’
1 January 2013
31 March 2014
IFRS 11 ‘Joint Arrangements’
1 January 2013
31 March 2014
IFRS 12 ‘Disclosures of Interest in Other Entities’
1 January 2013
31 March 2014
IFRS 13 ‘Fair Value Measurements’
1 January 2013
31 March 2014
NZ IAS 27 ‘Separate Financial Statements’ (revised 2011)
1 January 2013
31 March 2014
IAS 28 ‘Investments in Associates and Joint Ventures’
(revised 2011)
1 January 2013
31 March 2014
Amendment to New Zealand Equivalents to International
Financial Reporting Standards to Harmonise with
International Financial Reporting Standards and
Australian Accounting Standards
1 July 2011
31 March 2013
FRS 44 ‘New Zealand Additional Disclosures’
1 July 2011
31 March 2013
* The effective date and transitional provisions vary by Standard. Most of the improvements are effective for
annual periods beginning on or after 1 January 2011, with earlier adoption permitted.
The Group is currently considering the impact of these new standards and interpretations.
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