Model Financial Accounts - Reduced Disclosure Requirements 2021

ISBN: 9780864697448
Publisher: Thomson Reuters
Publish Date: 15/05/2021


Model Financial Accounts - Reduced Disclosure Requirements 2021


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XYZ Model Financial Accounts – Reduced Disclosure 2021

Be confident that you and your business have the resources to guide you through the preparation, review and presentation of financial reports.

The Reduced Disclosure Requirements keeps users up to date with the latest disclosure requirements and other critical information for preparing financial statements under RDR.

What's new in the 2021 Updates

The 2021 updates incorporate coverage on the mandatory replacement of RDR with the new “Simplified Disclosure” (SD) regime defined by AASB 1060 General Purpose Financial Statements – Simplified Disclosures for For-Profit and Not-for-Profit Tier 2 Entities effective for years commencing on or after 1 July 2021 for entities applying Australian Accounting Standards.

XYZ Model Financial Accounts - Reduced Disclosure Features

This publication provides a range of information and tools, including:

  • discussion on RDR and recent developments affecting Tier 2 entities;
  • flowcharts to determine how RDR are applied;
  • RDR-specific model financial accounts incorporating updated presentation and disclosures for the annual reporting period ending 30 June 2020;
  • disclosure checklists of all RDR and other financial reporting requirements typically applicable to Tier 2 entities; 
  • discussion on financial reporting requirements to assist financial statement preparers moving into Tier 1 or Tier 2; and
  • model financial accounts for a range of entities, including unlisted public companies, private companies and incorporated associations, prepared using RDR.

For further information about the full XYZ MFA suite, visit