This page contains resources to guide you through the financial reporting requirements when dealing with Simplified Disclosures.
Resources
Corporate Reporting Insights
BDO's monthly newsletter, Corporate Reporting Insights, keeps you up to date with the latest Australian and global developments in corporate financial and sustainability reporting.
- Reminder - For-profit private sector entities - Changes to constitution and banking agreements from 1 July 2021 may trigger GPFS (March 2025)
- Reduced disclosures for subsidiaries without public accountability, but not in Australia (May 2024)
- Tier 2 disclosures for supplier finance arrangements (April 2024)
- Simplified Disclosure introduced about International Tax Reform – Pillar Two Model Rules (October 2023)
- Simplified Disclosures – What related party information is required? (September 2022)
- Lodgement exemption for large grandfathered proprietary companies has been scrapped (August 2022)
- ASIC relief for AFS licensees transitioning to general purpose financial statements (August 2022)
- AFS licensees required to prepare Tier 1 financial statements for 30 June 2022 (June 2022)
- Exemptions from preparing consolidated financial statements (June 2022)
- Need only disclose material accounting policy information for Simplified Disclosures (February 2022)
- IASB proposes reduced disclosures for subsidiaries without public accountability – what does this mean for Australian entities? (October 2021)
- It's final – From 2022, special purpose financial statements will be history, and RDR replaced by Simplified Disclosures (April 2020)
- Special purpose financial statements to be scrapped from 2021 (September 2019)
- Simplified Disclosures to replace RDR for Tier 2 entities preparing special purpose financial reports (August 2019).
Transition to simplified disclosures
- Transition disclosures for Simplified Disclosures are not so simple (September 2022)
- More relief in AASB 1 for entities transitioning to general purpose Simplified Disclosures financial statements (May 2022)
- More relief proposed in AASB 1 for entities transitioning to Simplified Disclosures (December 2021)
- Comparatives when for-profit entities transition to Simplified Disclosures (August 2021)
- Transitional relief now available for NFPs moving from RDR to Simplified Disclosures (May 2021)
- Key questions to ask when getting ready for general purpose financial statements (February 2021)
- NFPs to get some relief on move from RDR to Simplified Disclosures (December 2020)
- For-profit private sector entities – Why you should consider transitioning from special purpose to Tier 2 general purpose financial statements one year early (September 2020
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