Skip to main content

Tier 1 model financial statements

Financial reporting periods ending on or after 31 December 2020

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 31 December 2020.

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:

  • 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 – Australian-specific requirements. 

We have also published a separate Appendix 3 which provides Australian not-for-profit specific illustrative disclosures to be used as a guide, in conjunction with the Tier 1 model financial statements, to assist the majority of not-for-profit entities meet their general financial reporting requirements. Click here to download Appendix 3.

Published: November 2020

Progress your business growth and development

Take a look at the products and services we offer.

Financial reporting

Deloitte has extensive experience in assisting firms of all sizes deal with the governance and compliance issues raised by IFRS to achieve best practice.

360° Audit

Imagine an audit where you get the core delivered expertly and efficiently - plus a view of the big risks to realising your vision. This is what the Deloitte 360° Audit delivers.

Our latest reports and thought leadership


Did you find this useful?

Thanks for your feedback

If you would like to help improve further, please complete a 3-minute survey