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June 2021 Tier 1 model financial statements

Financial reporting periods ending on or after 30 June 2021

These model financial statements contain complete illustrative disclosures for companies preparing ‘Tier 1’ general purpose financial statements in full compliance with Australian Accounting Standards for financial reporting periods ending on or after 30 June 2021.

These model financial statements can be used by entities with public accountability and those choosing to prepare Tier 1 financial statements as an illustrative guide when developing their own disclosures.

The document consists of the following sections:

  • Australian specific guidance – includes what’s new for the current reporting season, a summary of new and revised pronouncements and reporting deadlines
  • Core model financial statements – Illustrative core IFRS disclosures
  • Appendix 1 – A summary of disclosures that may be impacted by COVID-19 or climate change considerations
  • Appendix 2 – Financial instruments disclosures when applying Interest Rate Benchmark Reform
  • Appendix 3 – Australian-specific disclosures (includes the directors report, Australian-specific disclosures, ASX information and corporate governance disclosures)
  • Appendix 4 – Not-for-profit illustrative disclosures

Published: June 2021

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