June 2014 Reduced Disclosure Regime (RDR) Model Financial Statements
Early adoption for financial years ending on or after 30 June 2014
The 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.