GENERALLY RECOGNISED ACCOUNTING PRACTICE (GRAP) - …

GENERALLY RECOGNISED ACCOUNTING PRACTICE (GRAP) Disclosure/Compliance Checklist For The financial Year Ended 2014 GRAP Disclosure/Compliance Checklist Updated March 2013 Page 2 of 216 IMPORTANT CONSIDERATIONS The references in the body of the document are in relation to the Standards of GRAP as at 31 March 2014 and thus incorporate the latest improvements to the Standards. The specific Standards impacted by the ASB s 2013 improvements project are as listed below: GRAP 1: Presentation of financial Statements (Consequential Amendments) GRAP 5: Borrowing Cost GRAP 100: Discontinued Operations Note: The effective date for the improvements and updates to the abovementioned Standards is only 1 April 2014, but as earlier adoption of these improvements and updates is encouraged, this Disclosure/Compliance checklist has been developed to facilitate early adoption.

GRAP Disclosure/Compliance Checklist Updated March 2013 Page 7 of 216 Yes/No/ NA Ref Comments Note: financial statements should not be described as complying with GRAPs unless they comply with all the requirements of each applicable GRAP [1.18].

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  Practices, Testament, Financial, Accounting, Recognised, Financial statements, Generally, Prag, Generally recognised accounting practice

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