XYZ MODEL FINANCIAL STATEMENTS

YOUR GUIDE TO THE NEW 2014 XYZ MODEl FINANCIAl STATEMENTS PRODUCT SUITE. YOUR ONE-STOP-SHOP FOR All YOUR FINANCIAl REPORTING NEEDS.

Benefits: • Stay up-to-date with an overview of the

recent changes to the financial reporting framework, that provides guidance in determining which of the four tiers an entity will report under

• Step-by-step guidance on how to save time and resources in producing professionally formatted financial reports • Reduce the risk of non-compliance and

penalties

XYZ MODEl FINANCIAl STATEMENTS 2014 – GENERAl PURPOSE FINANCIAl REPORTINGThis is the go-to resource for entities currently preparing general purpose financial statements. Whilst there is an emphasis on NZ IFRS and NZ IFRS – RDR which are applicable for Tier 1 and Tier 2 for-profit entities, it also includes examples for those preparing their financial statements under NZ IFRS – Differential Reporting or “Old GAAP”. Designed specifically for entities that produce general purpose financial statements, it contains example disclosures for entities reporting under:• Full compliance with the New Zealand

equivalents to International Financial Reporting Standards (NZ IFRS)

• Compliance with the New Zealand equivalents to International Financial Reporting Standards applying the Reduced Disclosure Regime (NZ IFRS RDR).

XYZ MODEl FINANCIAl STATEMENTS SUITEBe confident that you have the resources to guide you through the preparation and presentation of financial statements with the XYZ Model Financial Statements suite of products and the new Thomson Reuters online service, XRB Financial Reporting Standards. b o

WHAT IS XYZ MODEl FINANCIAl STATEMENTS?XYZ Model Financial Statements (previously Brookers Model Financial Statements) has been New Zealand’s premier financial reporting publication for over 25 years.

During this time the publication has become the industry standard for the preparation of compliant financial reports for accounting professionals and businesses.

This year the existing favourites, XYZ Model Financial Statements General Purpose Financial Reporting, and XYZ Model Financial Disclosures Checklists, have been extensively reworked and expanded to help you understand how to apply the significant changes occurring in financial reporting.

2014 will also see publication of a new companion work, XYZ Model Financial Statements Workbook, which offers practical real world examples to illustrate the application of New Zealand accounting standards.

Recognising that standards are the essential component behind all financial reporting, Thomson Reuters has also developed a fully searchable online database of XRB Financial Reporting Standards. Making the connection between standards and their application is now instantly achievable as the major XYZ works will link to the relevant standards in the Thomson Reuters XRB standards database.

Used together the expanded XYZ suite of products and the new Thomson Reuters XRB database of financial reporting standards will provide you with the resources and tools needed to guide you through the preparation, presentation and generation of compliant financial reports.

All SUBSCRIPTIONS INClUDE A qUARTERlY NEWSlETTER TO KEEP YOU INFORMED OF THE lATEST FINANCIAl REPORTING DEVElOPMENTS.

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Benefits: • Updated database mean users can be

confident that they are always accessing the latest materials

• Links from XYZ MFS to relevant standards • Those preparing or auditing financial

statements will be able to confidently undertake comprehensive research across the accounting standards issued by the XRB.

XRB FINANCIAl REPORTING STANDARDSThere is now more than 3,000 pages of guidance issued in relation to NZ IFRS and there is more than 2,000 pages of guidance in relation to the NZ IPSAS based standards. For a user to be able to find their way through all this material can be difficult. Thomson Reuters provides the solution with this new online database. The regularly updated database contains all the financial reporting guidance and materials that have been issued by the XRB. Subscribers to the Thomson Reuters XRB database can therefore be confident they are using up-to-date material when undertaking financial reporting research. For the first time those preparing or auditing financial statements will be able to link from the XYZ Model Financial Statements publications to the relevant accounting standards, combining interpretation and application of the standards with the standards themselves.

For more detailed information visit www.thomsonreuters.co.nz/xyz

XYZ MODEl FINANCIAl STATEMENTS NZ IFRS DISClOSURE CHECKlIST & XYZ MODEl FINANCIAl STATEMENTS NZ IFRS RDR DISClOSURE CHECKlIST 2014The model disclosure checklists for NZ IFRS and NZ IFRS RDR is the go-to resource for entities currently preparing financial statements under Tier 1 and Tier 2 for-profit accounting standards. The comprehensive collection of WORD templates provides a detailed listing of the disclosure requirements so that you can prepare and check whether you have all the necessary disclosures.The templates extract and consolidate all your disclosure requirements together and into cohesive checklists that when completed allows a user to gain comfort that all disclosures required under the accounting standards approved by the External Reporting Board have been included within their financial statements.

Benefits: • All financial statement disclosure

requirements consolidated together in cohesive checklists

• Save time and resources in producing professionally formatted financial reports with direct access to all required financial statement disclosure requirements

• Reduce the risk of non-compliance and penalties.

Benefits: • Understand complex reporting

requirements, clearly presented in a user-friendly manner

• Save time and resources in researching and analysing the interpretation and application of New Zealand accounting standards.

• Have confidence in applying the New Zealand accounting standards for common accounting scenarios.

XYZ MODEl FINANCIAl STATEMENTS WORKBOOK 2014 The 2014 XYZ Model Financial Statements Workbook is a new publication that provides practical guidance in applying the New Zealand accounting standards. It facilitates the identification of key issues, examines the relevant accounting standards under NZ IFRS and illustrates how they are applied. The Workbook is used in conjunction with the XYZ Model Financial Statements 2014 product suite as a practical reference guide in understanding how to apply the recognition and measurement requirements for common but less widely understood accounting topics such as lease incentives, onerous contracts, compound and derivative financial instruments. The Workbook illustrates the application of the New Zealand accounting standards using:• Practical examples in the form of case studies• Journal entries• Tables, flow charts & diagrams• Calculations & disclosure extracts

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To order or for more information please phone Katrina Robinson on 0800 10 60 60 or email katrina.robinson@thomsonreuters.com

WHO IS GRANT THORNTON?Grant Thornton is one of the world’s leading organisations of independent assurance, tax and advisory firms. Grant Thornton New Zealand operates from three locations in Auckland, Wellington and Christchurch, with 31 partners and over 240 professional and management services staff. The XYZ Model Financial Statements series of product have been prepared and authored by Mark Hucklesby and his team (Brayden Smith and Rosaline Chan) from Grant Thornton.

WHAT IS CHECKPOINT®Checkpoint® is our powerful online tax and accounting information service designed and developed for New Zealand professionals. It provides easy access to legislation, commentary and compliance requirements allowing you to access the knowledge you need – faster. The platform blends cutting-edge technology, editorial insight and news updates with intelligent linking to related content, making your research experience easier, faster and more accurate. Visit www.thomsonreuters.co.nz/checkpoint to find out more about this service.

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XYZ MODEl FINANCIAl STATEMENTS GENERAl PURPOSE FINANCIAl REPORTING 2014 $595 √ √ √ √

XYZ MODEl FINANCIAl STATEMENTS WORKBOOK 2014 $395 √ √ √

XYZ MODEl FINANCIAl STATEMENTS DISClOSURES CHECKlIST 2014 $150 √ √ √

XRB FINANCIAl REPORTING STANDARDS $250 √ √ √

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