Reporting and Accounting

This page contains links to the relevant accounting policy and financial reporting requirements for Commonwealth entities and central government reporting. It includes the Financial Reporting Rule (FRR) and related policies and guidance for financial reports.

Accounting policy

Accounting reporting policy

Accounting policy guidance

Changes to Standards Relevant to 2017-18 Financial Statements

This document will assist entities in disclosing the impact on their financial statements of new accounting standards for 2017-18 and future years, as required by AASB 108 Accounting Policies, Changes in Accounting Estimates and Errors. It will be issued in July each year. Entities 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 2017-18 Financial Statements

As per Part 5 of RMG 125 - Commonwealth Entities Financial Statements Guide, 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
  • Finance uses the CFO Forum email list to communicate accounting and financial reporting updates to Commonwealth entities. Contact CFOForum@finance.gov.au to add representatives from your entity to the mailing list.

Accounting presentations and position papers

Overview of Commonwealth financial reporting

The overview of Commonwealth financial reporting provides an outline of the Commonwealth financial reporting processes and obligations under the PGPA Act and Charter of Budget Honesty Act. The page covers the following topics:

  • monthly and annual reporting processes
  • consistency and use of accounts
  • inter-entity transactions
  • functional reporting
  • publication standards
  • fiscal balance
  • underlying cash balance.

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

Last updated: 03 July 2018