December 2022 Tier 1 models and financial reporting considerations
Financial reporting periods ending on or after 31 December 2022
These models contain illustrative disclosures for companies preparing Tier 1 general purpose financial statements for financial reporting periods ending on or after 31 December 2022 and also outline the key financial reporting considerations for the December 2022 reporting season.
NOTE: An updated version of this document for the June 2023 reporting period is available here.
This publication assists entities with public accountability and those choosing to prepare Tier 1 financial statements with an illustrative guide when developing their own disclosures for the December 2022 reporting season.
The publication also provides an easy-to-read and focused summary of key considerations for the December 2022 reporting season, including our popular ‘What’s new in financial reporting’ analysis.
The publication has the following sections:
Using this publication – provides an overview of using the document as a guide in achieving best practice outcomes in Tier 1 annual reports
Key considerations for 31 December 2022 – contains pertinent information for financial reporting at 31 December 2022, including what’s new for the current reporting season, a summary of new and revised pronouncements and reporting deadlines
Core model financial statements– contains the core disclosures that apply to financial statements prepared in accordance with IFRS® Accounting Standards (and their Australian equivalents)
Appendix 1– gives an overview of the disclosure areas impacted by climate change
Appendix 2 - includes the various reports required under the Corporations Act 2001, additional Australian disclosures, ASX Listing Rules requirements and ACNC requirements.