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Courses/Accounting & Tax/Financial Reporting & Statements

Financial Statements: General vs. Special Purpose

Determining the Right Reporting Requirements for Entities.

Created byTEO Training
BeginnerUpdated Jan 19, 2025
Financial Statements: General vs. Special Purpose

What You'll Learn

check_circleIdentify the legislation governing financial statement preparation for various entities.
check_circleUnderstand the circumstances requiring general purpose or special purpose financial statements.
check_circleDifferentiate between the recognition and disclosure requirements of accounting frameworks.
check_circleApply these guidelines to ensure compliance with statutory financial reporting requirements.

About This Course

The requirement for an entity to prepare financial statements is governed by different legislation, including the Companies Act 1993, the Financial Reporting Act 2013, the Charities Act 2005, and the Incorporated Societies Act 2022 (among others).

The application of this legislation will guide an entity as to its requirement to prepare either general purpose or special purpose financial statements, and we’ll cover how to navigate these requirements, including in what situations either general purpose or special purpose financial statements should be prepared.

The session will:

  • Unpack the newly enacted Incorporated Societies Act 2022 and its impacts on financial reporting for incorporated societies.
  • Address the difference between a for-profit and not-for-profit entity.
  • Highlight key recognition and disclosure differences between the different accounting frameworks.

Suited to:

This course will be suited to accountants and other advisers who are responsible for ensuring that an entity’s financial statements meet its statutory requirements.

Your Instructors

TEO Training
TEO Training
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TEO Training provides practical learning experiences on primarily tax-related topics for accountants, lawyers and business advisors across New Zealand.

Paul  Walker
Paul Walker

Associate Partner Audit & Assurance at Crowe Australasia

Paul specialises in providing audit and assurance services and technical accounting advice across a number of industries. He is part of the Findex and Crowe’s wider Australasian accounting advisory team and delivers training and practical solutions for its teams and clients. Paul has been with Findex and Crowe since 2009 and has built up his knowledge working with clients from a range of industries and locations throughout New Zealand.

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We are a registered provider with 300+ associations and regulatory bodies worldwide. We operate across 27 global markets including Canada, the US, Australia, and the UK. Every course page clearly displays its specific accreditations. Upon completion, you receive a professional certificate that can be validated online. Our certificates include all necessary accreditation details, credit hours, and completion dates, and are formatted specifically to meet the submission requirements of most global regulatory bodies.

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