XYZ Model Financial Accounts - Volume 2- General Purpose Financial Reporting 2017

ISBN: 9780864699084
Publisher: Thomson Reuters
Publish Date: 16/06/2017

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XYZ Model Financial Accounts - Volume 2- General Purpose Financial Reporting 2017

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

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

To purchase Volumes 1 and 2 together at a package price click here

Be prepared for the adoption of the new Accounting Standards on revenue recognition, leases and financial instruments – impacting not only financial reporting, but requiring review of contract terms, financing arrangements and business systems.

Designed to complement each other, XYZ Model Financial Accounts Volume 1 - Special Purpose Financial Reporting and Volume 2 - General Purpose Financial Reporting provide users with the most comprehensive resource for the preparation and presentation of financial reports for non-reporting and reporting entities with a 30 June financial year-end.

Volume 1 – Special Purpose Financial Reporting

Designed specifically for non-reporting entities, Volume 1 - Special Purpose Financial Reporting contains:

  • Guidance on determining an entity’s reporting status
  • Financial reporting requirements of the Corporations Act 2001
  • Requirements of other Acts and Regulations
  • Disclosure checklists for mandatory Australian Accounting Standards applicable to non-reporting entities
  • Relevant ASIC releases such as Class Orders and Regulatory Guides

Volume 1 contains model special purpose financial statements for:

  • Trusts and trustees, Self-managed superannuation funds
  • Small and large proprietary companies, Incorporated associations
  • Not-for-profit companies limited by guarantee, Sole proprietorships, Partnerships

New in 2017:

  • A new model for a not-for-profit entity preparing special purpose financial statements under the Australian Charities and Not-for-profits Commission Act 2012.
  • An update on the key projects in the AASB work program, especially the new ”reporting entity” concept as part of the Conceptual Framework project.

Updated in 2017:

  • Australian Accounting Standard and Corporations Act 2001 disclosure checklists applicable for financial years ending 30 June 2017.
  • All model audit reports to reflect the changes to Australian Auditing Standards as part of the new enhanced auditor reporting requirements.
  • A summary of the impact of a number of minor changes to Accounting Standards.

Volume 2 – General Purpose Financial Reporting

Designed specifically for reporting entities and entities that produce general purpose financial statements, Volume 2 - General Purpose Financial Reporting contains:

  • Full Australian Accounting Standards (including Australian Accounting Interpretations) disclosure checklists
  • Financial reporting requirements of the Corporations Act 2001
  • Requirements of other Acts and Regulations
  • ASX Listing Rules

Volume 2 contains model general purpose financial statements for:

  • Listed public companies (full-year and half-year), Unlisted public companies
  • Small and large proprietary companies, Not-for-profit companies limited by guarantee
  • Trusts, Incorporated associations, APRA-regulated superannuation funds
  • Managed investment schemes

New in 2017:

  • A new “alternative presentation” listed entity model which complies with the amendments to AASB 101: Presentation of Financial Statements as part of the AASB’s disclosure initiative to present financial statements in a format which users will find easier to read and understand.
  • The chapter for superannuation funds, updated to reflect the requirements of AASB 1056: Superannuation Entities, which becomes mandatory at 30 June 2017 and replaces AAS 25: Financial Reporting by Superannuation Plans.
  • An update on the key projects in the AASB work program.

Updated in 2017:

  • Australian Accounting Standard and Corporations Act 2001 disclosure checklists applicable for financial years and half-years ending 30 June 2017.
  • All model audit reports to reflect the changes to Australian Auditing Standards as part of the new enhanced auditor reporting requirements.
  • Note disclosures to reflect changes to new Standards issued, but not yet effective.

Designed to be purchased together, both volumes are available in June 2017.

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