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June 2024 Tier 2 model financial report

Financial reporting periods ending on or after 30 June 2024

Unlock best practice outcomes in your full-year financial reporting with our Tier 2 model financial report. This comprehensive guide illustrates AASB 1060 'General Purpose Financial Statements – Simplified Disclosures for For-Profit and Not-for-Profit Tier 2 Entities' (AASB 1060), offering valuable insights and practical applications for achieving excellence in reporting.


Our 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).

This edition includes updates for:

  • The new consolidated entity disclosure statement required to be included in the financial report of all public companies (listed and unlisted) – collating information to respond to this new requirement may be time consuming
  • Illustrative material accounting policies to assist entities to respond to changing to material accounting policy information from significant accounting policies – this represents an opportunity to reduce clutter and provide more useful, entity-specific information to users
  • Example Pillar Two disclosures, particularly relevant for entities within groups with revenues exceeding €750 million (approximately A$1.2 billion)
  • Updates for various legislative, regulatory and accounting standard developments since the previous edition, or which apply for the first time in the current year.

Changes have been highlighted throughout the document using a blue bar in the left-hand margin.

In addition, the 2023-2024 Tier 2 Simplified Disclosures checklist is available and is applicable for entities reporting at June 2024.

Download the publication to learn more.



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