Queensland Treasury Financial Reporting Requirements (FRRs) for 2018–19 are available on Queensland Treasury’s website: www.tre
The Australian Accounting Standards Board (AASB) is reviewing financial reporting requirements for the public sector.1, 2
Can the International Public Sector Accounting Standard IPSAS 41 Financial Instruments help us in Australia?
Each year, the Queensland Audit Office (QAO) measures the timeliness and quality of public sector financial statements.We report on the results of these measures to parliament.
Do you have a peppercorn lease? Peppercorn leases are leases with nominal rent. This might be $1 or even as low as a peppercorn.
Should Australia develop a simpler, and better, reporting framework – particularly for entities that are not listed?
AASB 15 applies to both for-profit and not-for-profit entities. For-profit entities must apply AASB 15 for financial years beginning on, or after, 1 January 2018.
This checklist covers some key questions you should consider.Regarding your entity and the transition to AASB 15 Revenue and AASB 1058 Income of Not-For-Profit Entities: