2009 Illustrative annual reports
Financial years ending on or after 30 June 2009
This publication is a key tool to assist you in meeting your financial reporting obligations, particularly the preparation of the annual financial statements. Our objective in this publication is to encourage you to ‘tighten the screws’ on your disclosures in your financial report.
In current market conditions users will seek more information around going concern status and liquidity positions. It may be timely to revisit current disclosures and to ensure that the current market conditions are taken into account.
Impairment of assets is also of interest to users of financial reports. Directors should ensure that their review processes are robust and transparent and that the disclosure in financial reports reflects both technical compliance with the disclosure requirements and provides meaningful information to make decisions and understand the entity’s business.
The changes to financial reporting that are illustrated in this publication are:
- The changes to the ASX corporate governance principles and recommendations
- AASB 8 Operating Segments (early adoption)
- Interpretation 13 Customer Loyalty Programmes.
‘Section A – What’s new in financial reporting?’ provides a summary of the changes to pronouncements, as well as links to where you can find further information that may be helpful. ‘Section D – Reporting Obligations’ contains useful information on the requirements to prepare, audit and lodge financial reports, as well as reporting deadlines.
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