Australian Financial Reporting Requirements (108023248) - Online

This course is designed to help you understand the financial reporting requirements that are unique to Australia. It includes:

• an overview of the Australian financial reporting framework;
• reporting requirements for the different types of reporting entities;
• an overview of the reporting entity concept;
• an overview of the reduced disclosure regime; and
• additional disclosures required under AASB 1054

• Identify sources of Australia-specific reporting requirements for different types of reporting entities;
• Apply the reporting entity concept to identify entities that are required to prepare financial statements;
• Outline the two tiers of financial reporting for general purpose financial statements, namely Tier 1 and Tier 2, and determine when the reduced disclosure requirements are applicable;
• Identify the more substantial disclosures which have been removed for Tier 2 general purpose financial reports; and
• Identify additional Australian disclosures required under AASB 1054.