Appendix A (AASB18_06-24) (NFP-super)

The adding together of assets, liabilities, equity, income, expenses or cash flows that share characteristics and are included in the same classification.

The sorting of assets, liabilities, equity, income, expenses and cash flows based on shared characteristics.

The separation of an item into component parts that have characteristics that are not shared.

Reports that provide financial information about a reporting entity that is useful to primary users in making decisions relating to providing resources to the entity. Those decisions involve decisions about: 

(a) buying, selling or holding equity and debt instruments; 

(b) providing or selling loans and other forms of credit; or 

(c) exercising rights to vote on, or otherwise influence, the entity’s management’s actions that affect the use of the entity’s economic resources. 

General purpose financial reports include – but are not restricted to – an entity’s general purpose financial statements and sustainability-related financial disclosures.

A particular form of general purpose financial reports that provide information about the reporting entity’s assets, liabilities, equity, income and expenses.

Accounting standards issued by the International Accounting Standards Board. They comprise: 

(a) International Financial Reporting Standards; 

(b) International Accounting Standards; 

(c) IFRIC Interpretations; and 

(d) SIC Interpretations.

IFRS Accounting Standards were previously known as International Financial Reporting Standards, IFRS, IFRSs and IFRS Standards.

A subtotal of income and expenses that: 

(a) an entity uses in public communications outside financial statements; 

(b) an entity uses to communicate to users of financial statements management’s view of an aspect of the financial performance of the entity as a whole; and 

(c) is not listed in paragraph 118 of AASB 18, or specifically required to be presented or disclosed by Australian Accounting Standards.

Information is material if omitting, misstating or obscuring it could reasonably be expected to influence decisions that the primary users of general purpose financial statements make on the basis of those financial statements, which provide financial information about a specific reporting entity.

Information in financial statements provided in addition to that presented in the primary financial statements.

The total of all income and expenses classified in the operating category.

Items of income and expense (including reclassification adjustments) that are recognised outside profit or loss as required or permitted by other Australian Accounting Standards.

Holders of claims classified as equity.

The statement(s) of financial performance, the statement of financial position, the statement of changes in equity and the statement of cash flows.

The total of income less expenses included in the statement of profit or loss.

The total of operating profit or loss and all income and expenses classified in the investing category.

Amounts reclassified to profit or loss in the current reporting period that were included in other comprehensive income in the current or prior periods.

The change in equity during a reporting period resulting from transactions and other events, other than those changes resulting from transactions with owners in their capacity as owners.

A structured summary provided in a primary financial statement of a reporting entity’s recognised assets, liabilities, equity, income, expenses and cash flows that is useful for: 

(a) obtaining an understandable overview of the entity’s recognised assets, liabilities, equity, income, expenses and cash flows; 

(b) making comparisons between entities, and between reporting periods for the same entity; and 

(c) identifying items or areas about which users of financial statements may wish to seek additional information in the notes.

In respect of public sector entities, local governments, governments and most, if not all, government departments are reporting entities:

The Australian Government, the Government of the Australian Capital Territory, New South Wales, the Northern Territory, Queensland, South Australia, Tasmania, Victoria or Western Australia.

A government controlled entity, created pursuant to administrative arrangements or otherwise designated as a government department by the government which controls it.

An entity comprising all entities controlled by a governing body elected or appointed pursuant to a Local Government Act or similar legislation.