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June 2014 Reduced Disclosure Regime (RDR) Model Financial Statements

Early adoption for financial years ending on or after 30 June 2014


Author: Wendy Wang and Darryn Rundell, Accounting Technical Group

June 2014 Reduced Disclosure Regime (RDR) Model Financial StatementsThe AASB’s Reduced Disclosure Requirements (RDR) provides an opportunity for ‘for-profit’ reporting entities without ‘public accountability’, ‘not-for-profit’ reporting entities and some public sector entities to present substantially less disclosure when preparing Tier 2 general purpose financial statements.

Our objective in this publication:

  • If you have already adopted RDR - to assist you as you respond to changes to financial reporting requirements for the June 2014 reporting season

  • If you are considering adopting RDR in the current year - to assist you in identifying disclosures in your annual financial report that are not required when preparing general purpose financial statements under RDR.

This publication follows a similar format to the “Deloitte 2014 Model Financial Statements” applicable to Tier 1 reporters and highlights those sections where reduced disclosures may be available.

More information about the AASB’s Reduced Disclosure Requirements can be found in Accounting Alert 2010/08.

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