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Financial Reporting and Accounting Policy

This website contains links to the relevant accounting policy and financial reporting requirements for Australian Government Entities and central government reporting. It includes Finance Minister's Orders (FMOs) and related Policies and Guidance for Financial Reports such as FinanceBriefs.

Accounting Policy

Accounting Reporting Policy

• 2009 - 2010 Finance Minister's Orders for Financial Reporting (incorporating policy and guidance) and summary of changes
• 2009 - 2010 PRIMA Forms of Financial Statements (Annexure A to the Finance Minister's Orders)
  • 'PRIMA Forms' detail the required disclosures for the financial reports of Australian Government Entities
• 2009 - 2010 PRIMA Illustrative Financial Statements
  • 'PRIMA Illustrative' is a set of illustrative financial statements to assist Commonwealth Entities in the preparation of their financial statements.
• 2009 - 2010 PRIMA Template
  • 'PRIMA Template' is a blank set of financial statements that entities can use in preparation of their financial statements. Use of the template is not mandatory
• FMO and PRIMA User Guides
  • The user guides provide instructions for navigating and using the FMOs and PRIMA
• Legislative instruments:
• Commonwealth Authorities and Companies Orders (Financial Statements for reporting periods ending on or after 1 July 2009) []
• Financial Management and Accountability Orders (Financial Statements for reporting periods ending on or after 1 July 2009) []

Accounting Policy Guidance

• FinanceBriefs
• Accounting Guidance Notes
• New accounting standards for 2009-10 financial statements [ 56 KB]
  • This document will assist entities in disclosing the impact on their financial statements of new accounting standards for 2009-10 and future years, as required by AASB 108 Accounting Policies, Changes in Accounting Estimates and Errors. It will be issued in July each year. Agencies are responsible for ensuring that standards that are issued subsequent to this document, but prior to the signing of the financial statements, are disclosed as appropriate.
• Standard Parameters for use in Financial Statements
• Third Balance Sheet Illustrative Example [ 39 KB]
  • This Illustrative example will assist entities in preparing their financial statements when they apply an accounting policy retrospectively or makes a retrospective restatement of items in their financial statements, or when they reclassify items in their financial statements as required by paragraph 10 (f) of AASB 101 Presentation of Financial Statements. Whist every care has been taken in the presentation of this example it is intended as guidance only. Specific queries in relation to the requirements of AASB 101 should be directed to accounting policy contacts.

CFO Forum

• CFO Forum
• CFO Forum email list
  The CFO Forum email list is used to communicate accounting and financial reporting issues to Commonwealth Government entities. To add representatives from your organisation to the mailing list, email: CFOForum@finance.gov.au
  

Financial Reporting

• Annual and monthly reporting processes
• Inter-agency transactions
• Functional Allocation
• Consistency and use of accounts
• Publication Standards
• AIMS
• Fiscal Balance
• Underlying Cash Balance

Contact for information on this page: Financial Reporting and Accounting Policy Contacts

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