Model special purpose financial statements

We’ve designed these model special purpose financial statements to assist users with the preparation of special purpose financial statements for non-reporting entities that are:

• For-profit private sector entities with a non-legislative requirement to prepare financial statements
• Not-for-profit entities, including those entities permitted to prepare special purpose financial statements when reporting to the Australian Charities and Not-for-Profits Commission (ACNC).

The 17th edition of our model special purpose financial statements includes new illustrative examples and discussion of:

• Recent proposed changes to professional requirements in special purpose financial statements arising under APES 205 Conformity with Accounting Standards
• The recently introduced disclosures in certain for-profit private sector special purpose financial statements (essentially, those entities with a non-legislative requirement to prepare financial statements in accordance with Australian Accounting Standards, where the requirement was created and last amended before 1 July 2021)
• The new required disclosures in special purpose financial statements of not-for-profit entities reporting to the ACNC.

These disclosures will assist entities completing their special purpose financial statements for the June 2022 and later financial reporting periods.

Download the document to learn more.