June 2023 Tier 2 model financial report
Application of Australian Accounting Standards – Simplified Disclosures for financial years ending on or after 30 June 2023
Our Tier 2 model financial report can be used as a guide in achieving best practice outcomes in full-year financial reporting when applying Australian Accounting Standards - Simplified Disclosures.
The 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) on the basis the entity:
- Has subsidiaries, joint ventures and associates
- Is not applying Australian Accounting Standards – Simplified Disclosures for the first time.
Note: This document does not illustrate first-time adoption of Australian Accounting Standards – Simplified Disclosures. Entities applying AASB 1060 for the first time may wish to refer to the June 2022 model Tier 2 financial report which illustrates the disclosures required on first-time adoption.
