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You have completed your due diligence, signed all the paperwork, and have officially acquired an entity or a business. You might think all the hard work is done, but accounting for it may be harder than you think. Here’s some key questions you need to consider.

Our latest issue of Business Adviser magazine reveals the barriers to achieving a low carbon economy in NZ’s financial system, and tax advantages for your business and the environment. Find out how to report the impact of climate change in your financial statements, and what an overhaul of the building consents process could look like.

A recommendation from the recent Charities Act Review could mean charities with annual operating expenses over $140,000 will be required to disclose information about the reserves they hold, and why they hold them. This information will also be available to the media and general public.

Our latest issue of Business Adviser magazine is out now. Download your copy to discover some of the key findings from our Not for Profit sector research and how property and construction businesses can navigate today’s tough climate. We also put a spotlight on NZ's primary and aged care sectors.

Our first Business Adviser issue for 2022 fast-forwards to the year 2030 to look at New Zealand’s progress on environment and sustainability. We also explore the future digital currencies have in New Zealand’s financial sector, and we reveal a secret weapon for businesses in tough economic times. For all these stories and more, download your copy.

Our final Business Adviser issue for 2021 reveals why businesses large and small are struggling to comply with the Holidays Act 2003. Find out how your business should be accounting for software as a service (SaaS), and how climate-related reporting can boost your organisation’s value proposition. Download you copy for these stories and more.

Our latest edition of Business Adviser reveals a crisis rapidly approaching the aged care sector, and some quick tips for construction businesses operating in a covid-impacted economy. Find out how to prevent invoice fraud in your organisation, and read about a recent court case which highlights the importance of directors’ duties.

In this issue of Business Adviser we cover how the fringe benefit tax rate increase will affect your business and changes to the Incorporated Societies Act. We also offer our insights into various areas of Budget 2021 and new legislation for sale and purchase agreements.

For well over 100 years the Incorporated Societies Act 1908 has enabled community related organisations to become incorporated for a wide variety of purposes. However, this Act is now outdated and deficient in many respects.

Read our two-part series about New Zealand’s housing crisis by procurement expert, Michael Worth. We also reveal the findings in this year’s Grant Thornton Women in Business Report, and how you can retune your business by pausing for a pit stop.

Inland Revenue has been reviewing tax rules applicable to charitable and donee organisations (charitable entities to which donations are eligible for a 33% tax rebate).

In October 2018, the IASB issued ‘Definition of a Business’ making amendments to IFRS 3 ‘Business Combinations’. The amendments are a response to feedback received from the post-implementation review of IFRS 3 (‘the Standard’). They clarify the definition of a business, with the aim of helping entities to determine whether a transaction should be accounted for as an asset acquisition or a business combination.

Are you ready for IFRS 16? This series of insights will help you prepare.

The Ministry of Business, Innovation and Employment (MBIE)recently released a paper for public consultation which includes various options for improving the conduct of financial institutions in New Zealand. The key focus of the paper is to ensure that conduct and culture in the financial sector is delivering good outcomes for all customers. Those wanting to make a submission will need to act quickly as submissions close on 7 June 2019.

Some areas of accounting have what could be described as geography issues; you’ve got a map of an area, but there might be two versions showing slightly different boundaries. This is currently the case for onerous contracts, however, the standards for these types of contracts are currently being updated to improve consistency and replace the variations in accounting practices that currently exist.

Earn-outs are a common feature of M&A transactions and when used properly, can provide the parties with an additional opportunity post-deal to true-up and validate the headline price.