Our Model Tier 2 financial report can be used as a guide in achieving best practice outcomes full-year financial reporting when applying Australian Accounting Standards - Simplified Disclosures.
The model Tier 2 model financial report contains an illustrative example of general purpose financial statements prepared in accordance with AASB 1060 General Purpose Financial Statements – Simplified Disclosures for For-Profit and Not-for-Profit Tier 2 Entities (AASB 1060) on the basis the entity:
This document does not illustrate early adoption of the Simplified Disclosures framework. Entities applying AASB 1060 to annual reporting periods beginning before 1 July 2021 should refer to our Tier 2 Simplified Disclosures model financial report illustrating early adoption.