AASB 1060 Financial Statement Creation


This is a prototype of AASB 1060, which shows the possibilities of how financial reporting standards could be created and made available publicly.

Introduction edit

  • Basis of Report Presentation
  • Nature of Reporting Entity

Financial Statement Presentation edit

  • Statement of Financial Position
  • Classified
  • Liquidity
  • Other
  • Statement of Profit or Loss and Other Comprehensive Income
  • Separate Statement of Profit or Loss and Statement of Other Comprehensive Income
  • Statement of Changes in Equity
  • Combined Statement of Profit or Loss and Statement of Changes in Equity
  • Statement of Cash Flows
  • Direct Method
  • Indirect Method
  • Consolidated and Separate Financial Statements

Notes to the Financial Statements edit

  • Report Information
  • Reporting Entity Information
  • Accounting Policies, Estimates and Errors
  • Basic Financial Instruments
  • Other Financial Instrument Issues – Hedging Disclosures
  • Inventories
  • Investments in Associates
  • Investments in Joint Ventures
  • Investment Property at Fair Value
  • Investment Property at Cost
  • Property, Plant and Equipment
  • Intangible Assets other than Goodwill
  • Goodwill
  • Business Combinations
  • Leases
  • Provisions and Contingencies
  • Revenue
  • Government Grants of For-Profit Entities
  • Borrowing Costs
  • Share-based Payment
  • Impairment of Assets
  • Employee Benefits
  • Income Tax
  • Foreign Currency Translation
  • Hyperinflation
  • Events after the End of the Reporting Period
  • Related Party Disclosures
  • Biological Assets

Specific Disclosures for Not-For-Profit Entities and Public Sector Entities edit

  • Contributions
  • Restructure of administrative arrangements
  • Administrative items
  • Land under roads
  • Budgetary reporting
  • Income of not-for-profit entities
  • Non-contractual income arising from statutory requirements
  • Transfers to enable an entity to acquire or construct a recognisable non-financial asset to be controlled by the entity
  • Compliance with parliamentary appropriations and other related authorities for expenditure
  • Service concession arrangements: grantors that are public sector entities

Transition to Australian Accounting Standards – Simplified Disclosures edit

  • Reconciliations

See also edit

Australian Accounting Standards Board. General Purpose Financial Statements - Simplified Disclosures for For-Profit and Not-for-Profit Tier 2 Entities Retrieved from https://www.aasb.gov.au/admin/file/content105/c9/AASB1060_Amendments_03-20.pdf

XBRL Site. Knowledge Graph for AASB 1060 http://xbrlsite.azurewebsites.net/2021/reporting-scheme/aasb1060/documentation/

XBRL Site. Human readable version of XBRL taxonomy http://xbrlsite.azurewebsites.net/2021/reporting-scheme/aasb1060/base-taxonomy/aasb1060_ModelStructure.html