AASB 1060 General Purpose Financial Statements Simplified Disclosures for For-Profit and Not-for-Profit Tier 2 Entities 242-243: Service concession arrangements of public sector grantors: disclose enough qualitative and quantitative information to show the amount, timing, nature and uncertainty of the related assets, liabilities, revenue and cash flows, covering a description, significant terms, rights to services and assets, service concession asset carrying amounts, renewal and termination options, other rights and obligations and access obligations, and changes in the period, individually for material arrangements or in aggregate for similar ones

What does 242-243 require?

A public sector grantor discloses, individually for each material arrangement or in aggregate for arrangements of a similar nature, information that lets users grasp the amount, timing, nature and uncertainty of the assets, liabilities, revenue and cash flows that service concession arrangements generate, considering a description of the arrangements, the significant terms affecting future cash flows (period, re-pricing dates and the basis of re-pricing or renegotiation), the nature and extent of its rights to receive specified services and specified assets at the end of the arrangement, the closing carrying amount of service concession assets with existing grantor assets reclassified during the period shown separately, renewal and termination options, other rights and obligations such as major overhauls, obligations to give the operator access to concession or other revenue-generating assets, and changes in the arrangements during the period. These disclosures add to the property, plant and equipment and intangible asset disclosures, within which service concession assets may sit inside one class or span several.