Notice Type
Authorities/Other Agencies of State
Notice Title

Issued Accounting Standard: Definition of Accounting Estimates (Notice No. 186)

Notice is hereby given, pursuant to section 24 of the Financial Reporting Act 2013, that the New Zealand Accounting Standards Board of the External Reporting Board has issued Definition of Accounting Estimates.

Definition of Accounting Estimates:

  • applies to all Tier 1 and Tier 2 for-profit reporting entities and groups, other than where expressly exempted by its terms, the terms of any other approved accounting standard or bylaw;
  • applies to annual periods beginning on or after 1 January 2023, with earlier application permitted; and
  • is a disallowable instrument for the purposes of the Legislation Act 2012.

Copies of the standard may be inspected free of charge at the offices of the External Reporting Board (XRB), Level 7, 50 Manners Street, Wellington. Copies are also available on the XRB’s website at

Dated this 26th day of March 2021.

CAROLYN CORDERY, Chair, New Zealand Accounting Standards Board.