A Christchurch accountant says it won't just be Canterbury firms that will need to factor the effects of the earthquake into their annual accounts.
BDO Chartered Accountants managing partner Warren Johnstone says accounting rules require firms to account for any decrease in value in assets and inventory.
But that's proving quite a problem for some firms, who are not yet sure how much they've lost in the quakes, or what insurance payouts they might receive.
Mr Johnstone says it is an unprecedented situation. He also says it's not just firms in Christchurch that will need to factor the effects of the earthquake into their annual accounts.
Mr Johnstone says there are more than 2000 accountants operating in Christchurch.
An earthquake focus group has been providing training and support to make sure the profession can handle the issues that are arising.
