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Reduced disclosure model financial statements

Early adoption for financial years ending on or after 30 June 2013


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Author: Wendy Wang and Darryn Rundell, Accounting Technical Group

The AASB’s Reduced Disclosure Regime (RDR) provides an opportunity for for-profit reporting entities without ‘public accountability’, not-for-profit entities that are reporting entities and some public sector entities to present substantially less disclosure when preparing Tier 2 general purpose financial reports.

Our objective in this publication:

  • If you have already adopted the Reduced Disclosure Regime - to assist you as you respond to changes to financial reporting requirements for the June 2013 reporting season

  • If you are considering early adopting the Reduced Disclosure Regime in the current year - to assist you in identifying disclosures in your annual financial report that are not required when preparing financial statements under the Reduced Disclosure Regime.

This publication follows a similar format to the “Deloitte 2013 Model Financial Statements” applicable to Tier 1 reporters and highlights those sections where simplified disclosures may be available.

More information about the Reduced Disclosure Regime can be found in Accounting Alert 2010/08.

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