AASB 1039 Concise Financial Reports
Preparation, presentation and the financial statements in a concise financial report (paragraphs 12 to 27) – AASB 1039 Concise Financial Reports

AASB 1039 Concise Financial Reports 20-23: Present each financial statement exactly as in the financial report, omitting only the note cross-references; the notes themselves are not required unless the Standard specifies them

What does 20-23 require?

Every financial statement in the concise report must be the same as in the financial report, prepared under the other Accounting Standards, with the sole change that cross-references to the notes of the financial report are removed. The notes required by other Standards need not appear in the concise report (for instance the reconciliation from operating cash flows to profit or loss that a direct-method preparer gives under AASB 1054 is not needed), except where this Standard specifically calls for information from them. Cross-referencing the statements to the disclosures that are in the concise report is recommended, and presenting only consolidated statements for a parent does not breach the requirement.

Maintained by Gerard Blokdyk

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This control maps to 1 controls across 1 other frameworks. If you already hold one of them, the evidence you collected for it is the starting point here rather than new work.

  • s314-317 ss 314 to 317 Report to members by the deadline and lay reports before the AGM

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Other controls in Preparation, presentation and the financial statements in a concise financial report (paragraphs 12 to 27) – AASB 1039 Concise Financial Reports

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The graph holds this control, the 1 it maps to, and the evidence behind each claim, over MCP and REST.