Financial Reporting and Accounting Policy
The Financial Management and Accountability Act 1997 (FMA Act) and the Commonwealth Authorities and Companies Act 1997 (CAC Act) were repealed on 30 June 2014 and replaced by the Public Governance, Performance and Accountability Act 2013 (PGPA Act) from 1 July 2014. Some provisions of the FMA and CAC Acts, however, will remain in force during the transition period; for example performance reporting requirements for the 2013-14 financial year.
If you are looking for information on the PGPA Act, supported by rules and guidance, go to the Resource Management section of the Department of Finance website.
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 Reporting Policy
- 2013–2014 Finance Minister's Orders for Financial Reporting (incorporating policy and guidance) and summary of changes
- 2013–2014 PRIMA Documents
- FMOs User Guide
- The User Guide provides guidance on applying the FMOs and PRIMA to prepare financial statements.
- FMOs and PRIMA documents from previous reporting periods
Accounting Policy Guidance
- Accounting Guidance Notes
- Changes to Standards Relevant to 2013–14 Financial Statements
- Changes to Standards Relevant to 2013–14 Financial Statements [ 117 KB]
- Changes to Standards Relevant to 2013–14 Financial Statements (includes Attachment A) [ 280 KB]
- This document will assist entities in disclosing the impact on their financial statements of new accounting standards for 2013–14 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 2013–14 Financial Statements
- Standard Parameters for use in 2013–14 Financial Statements [ 37 KB]
- Standard Parameters for use in 2013–14 Financial Statements [ 38 KB]
- As per section 43.74G of the 2013–14 FMOs, the LSL - Table of Probability Factors and the LSL - Table of Discount Factors will be published on Finance's website no later than July on an annual basis.
- 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
- Annual and monthly reporting processes
- Inter-agency transactions
- Functional Allocation
- Consistency and use of accounts
- Publication Standards
- Fiscal Balance
- Underlying Cash Balance
Finance is committed to the accessibility publishing guidelines of WCAG2.0. Due to constraints in authoring tools used to develop content on this page, originally published September 2011, the page does not conform to the minimum WCAG2.0 Level A requirement. Finance is progressing toward full WCAG 2.0 conformance in line with the Web Accessibility National Transition Strategy. Current issues on this page include: pdf files without alternative formats. Please contact the Accounting Policy Branch via firstname.lastname@example.org if you require a different file type for accessibility reasons.