This course introduces you to the Reduced Disclosure Requirements (RDR) and its reporting requirements for both Tier 1 and Tier 2 entities in preparing general purpose financial statements. 
In addition, it looks at reduced disclosures, listing some of the more substantial disclosures which have been removed from Tier 2 general purpose financial statements.

Key topics:

  • AASB 1053 application of tiers to Australian Accounting Standards
  • What does ‘public accountability’ mean?
  • Rules around tiers
  • Reduced disclosures
  • Disclosures not required

This one hour online course forms part of the FastClass short course suite.

Learning objectives

  • Explain why the Australian Accounting Standards Board (AASB) introduced the RDR
  • Outline the two tiers of financial reporting for general purpose financial statements, namely Tier 1 and Tier 2
  • Identify the more substantial disclosures which have been removed for Tier 2 general purpose financial reports
  • Determine when RDR is applicable
  • Examine factors involved with adopting RDR in accordance with Australian Accounting Standards

Audience

This course is specifically designed for finance professionals who are involved in external reporting, financial management and financial accounting.

365 Days

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