General Principles for Recognition of Expenditure in Budget Aggregates

This paper outlines the principles used in the presentation of government expenditure in the Australian Government Budget Financial Statements and the Consolidated Financial Statements.  

The key budget aggregates discussed in this document are consistent with the Uniform Presentation Framework (UPF) adopted by the Australian, State and Territory governments for the presentation of government financial information. The UPF is based on AASB 1049 Whole of Government and General Government Sector Financial Reporting, which harmonises Government Finance Statistics (GFS) and Australian Accounting Standards (AAS). 

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