These model financial statements contain illustrative disclosures for companies preparing ‘Tier 2’ general purpose financial statements in compliance with Australian Accounting Standards – Simplified Disclosures for financial reporting periods ending before 30 June 2022.
This document 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 on the basis the entity:
We have also published a separate Appendix which provides Australian not-for-profit specific illustrative disclosures to be used as a guide, in conjunction with the Tier 2 model financial statements, to assist the majority of not-for-profit entities meet their general financial reporting requirements when applying AASB 1060. Click here to download the Appendix.
Entities applying AASB 1060 to annual reporting periods beginning on or after 1 July 2021 should refer to our Model Tier 2 financial report for financial years ending on or after 30 June 2022.