XYZ Model Financial Accounts - Reduced Disclosure Requirements 2017

Be prepared for the next wave of IFRS – requiring overhaul of financial statements,

with business-wide implications

Click here to pre-order the 2018 edition - Available April 2018.

Since their development in 2010, reduced disclosure requirements (RDR) have generated increasing interest, particularly among not-for-profit entities. 

The 2017 update of XYZ Model Financial Accounts – Reduced Disclosure Requirements keeps users up to date with the latest disclosure requirements and other critical information for preparing financial statements under RDR. This publication provides a range of information and tools, including:

• discussion of RDR and recent developments affecting Tier 2 entities;
• flowcharts to determine how RDR are applied;
• disclosure checklists of all RDR and other financial reporting requirements typically applicable to Tier 2 entities; and
• model financial accounts for a range of entities, including unlisted public companies, private companies and incorporated associations, prepared using RDR.

• Inclusion of an Australian Charities and Not-for-profits Commission (ACNC)-compliant model (see Chapter 4: Unlisted Public Companies at [4-3200]).
• Updates on AASB 16: Leases and AASB 9: Financial Instruments to assist preparers to start planning for transition to these Standards.
• Discussion of AASB 1058: Income of Not-for-Profit Entities and AASB 15: Revenue from Contracts with Customers, which are expected to significantly impact the recognition of revenue and other income of many entities and, for some, involve a costly, complex and time-consuming transition.

For further information about the full XYZ MFA suite, please visit http://tax.thomsonreuters.com.au/checkpoint/xyz

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