Example NFP Financial Statements
Example not-for-profitfinancial statementsGrant Thornton CLEARR Example LtdFor the year ended 31 December 2014
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Example Not-for-Profit Financial StatementsFor the year ended 31 December 20141ForewordWelcome to the December 2014 edition of Example Financial Statements.The preparation of financial statements in accordance with Australian Accounting Standards(AASBs) and International Financial Reporting Standards (IFRSs) is challenging. Each year newstandards and amendments are published by the Australian Accounting Standards Board and theInternational Accounting Standards Board with the potential to significantly impact both thepresentation of the primary financial statements and the accompanying disclosures.While the annual (and interim) period ending 31 December 2014 represents relatively little changefor for-profit entities, this is not the case for not-for-profit entities as it is the first annual reportingperiod to which the new requirements in AASB 10 Consolidated Financial Statements, AASB 11 JointArrangements and AASB 12 Disclosure of Interests in Other Entities apply to not-for-profit entities.Accordingly, this reporting season is likely to pose significant challenges to preparers and auditors inthe not-for-profit sector. On a positive note, there are no major IFRSs / AASBs due forimplementation over the next couple of years, however entities should start their impact assessmentof recently issued IFRS 15 Revenue from Contracts with Customers and IFRS 9 Financial Instruments (2014)sooner rather than later so as to prepare themselves properly for the changes that may be requiredwhen adopting these standards on 1 January 2017 and 1 January 2018 (respectively).Should preparers like to discuss these financial reporting changes or recent developments and howthese may impact upon your business, please contact your local Grant Thornton Australia contact,or the National Accounting Support (NAS) team on nationalaudit.support@au.gt.com. There arealso various publications (Technical Accounting Alerts [TA Alerts] and IFRS Quarterly Newsletters[IFRS News]) on our website www.grantthornton.com.au which provide an overview of thesedevelopments.The December 2014 edition of Example Not-for-Profit (‘NFP’) Financial Statements, is based on therecent Grant Thornton International publication, however has been tailored to suit the Australianfinancial reporting, regulatory and NFP environment. This publication is intended to illustrate the‘look and feel’ of Australian general purpose financial statements for a NFP Entity and to provide arealistic example of their presentation. 2014 Grant Thornton Australia Ltd. All rights reserved.
Example Not-for-Profit Financial StatementsFor the year ended 31 December 20142This publication is based on the activities and results of Grant Thornton CLEARR Example Ltdand Subsidiaries (“the Group”) – a fictional unlisted public not-for-profit entity that has beenpreparing Australian general purpose financial statements for several years. The Entity is aCompany limited by guarantee. The form and content of Australian general purpose financialstatements depend of course on the activities and transactions of each reporting entity. Ourobjective in preparing the Example Financial Statements was to illustrate one possible approach tofinancial reporting by an entity engaging in transactions that are ‘typical’ across a range of nonspecialist sectors. However, as with any example, this illustration does not envisage every possibletransaction and cannot therefore be regarded as comprehensive. Management is responsible for thefair presentation of financial statements and therefore may find other approaches more appropriatein their specific circumstances.These Example Financial Statements have been reviewed and updated to reflect changes in AASBs thatare effective for the year ending 31 December 2014. However, no account has been taken of anynew developments published after 27 November 2014. The Grant Thornton website contains anyupdates that are relevant for 31 December 2014 financial statements including our December 2014‘Updated Accounting Standards issued by the AASB/IASB but not yet effective’.Using this publicationIn some areas alternative presentation and disclosure approaches are also illustrated in theAppendices.For further guidance on the Standards and Interpretations applied, reference is made to AustralianAccounting Standards and Interpretations sources throughout the document on the left hand side ofeach page.The use of this publication is not a substitute for the use of a comprehensive and up to datedisclosure checklist to ensure completeness of the disclosures in Australian general purpose financialstatements.Andrew ArcherNational Audit LeaderGrant Thornton Australia LtdNovember 2014 2014 Grant Thornton Australia Ltd. All rights reserved.
Example Not-for-Profit Financial StatementsFor the year ended 31 December 20143ContentsPageForeword1Directors’ Report6Auditor’s Independence Declaration9Consolidated Statement of Profit or Loss and Other Comprehensive Income10Consolidated Statement of Financial Position13Consolidated Statement of Changes in Equity16Consolidated Statement of Cash Flows19Notes to the consolidated financial statements201Nature of operations202General information and statement of compliance203Changes in accounting policies204Summary of accounting policies235Revenue326Intangible assets377Property, plant and equipment368Leases419Financial assets and liabilities3410Inventories3511Trade and other receivables3312Other assets3713Cash and cash equivalents3214Reserves3915Employee remuneration3816Trade and other payables3717Other liabilities3818Borrowings3819Auditor remuneration3920Reconciliation of cash flows from operating activities4021Related party transactions4022Contingent liabilities4123Capital commitments41 2014 Grant Thornton Australia Ltd. All rights reserved.
Example Not-for-Profit Financial StatementsFor the year ended 31 December 20144Page24Financial instrument risk4125Fair value measurement4426Capital management policies and procedures4627Parent Entity information4628Post-reporting date events4729Member’s guarantee47Directors’ Declaration48Independent Auditor’s Report49 2014 Grant Thornton Australia Ltd. All rights reserved.
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Example Not-for-Profit Financial StatementsFor the year ended 31 December 20146Directors’ ReportThe Directors of Grant Thornton CLEARR Example Ltd (‘Grant Thornton CLEARR’) presenttheir Report together with the financial statements of the consolidated entity, being Grant ThorntonCLEARR (‘the Company’) and its controlled entities (‘the Group’) for the year ended 31 December2014 and the Independent Audit Report thereon.CA 300B(3)(a)Director detailsThe following persons were directors of Grant Thornton CLEARR during or since the end of thefinancial year.CA 300B(3)(b)Mr Blake SmithB.EngMs Beth KingCA, MBAManaging DirectorDirector since 2007Independent Non-Executive DirectorAudit and Risk Committee Chair andMember of the Nomination andRemuneration CommitteeDirector since 2005Blake has considerable experience in effectingcommercial, strategic and cultural changewithin a large corporation. He has heldnational leadership roles as a member of theBusiness Council of Australia and pastChairman of ESAA.Mr Simon MurphyLLB (Hons)Independent Non-Executive DirectorIndependent Chairman / Nomination andRemuneration Committee Chair andMember of Audit and Risk CommitteeDirector since 2010Simon has broad international corporateexperience with extensive operations inNorth America and Europe and diversetrading relationships in Asia. Simon is aqualified lawyer in Australia 2014 Grant Thornton Australia Ltd. All rights reserved.Beth is a Chartered Accountant and bringsmore than 20 years broad financial andcommercial experience, both local andinternational to Grant Thornton CLEARR.Mrs Alison FrenchBA (Hons)Chief Executive OfficerDirector since 2009Alison has significant experience over 25years in the not for profit sector, includingsenior executive positions based in Australia,New Zealand and Asia plus regionalresponsibilities over many years throughoutAfrica and the Middle East.
Example Not-for-Profit Financial StatementsFor the year ended 31 December 20147Mr William MiddletonBEc, FCAIndependent Non-Executive DirectorMember of the Nomination andRemuneration Committee and member ofAudit and Risk CommitteeAppointed 28 November 2014William is the Principal of WM Associations,a financial consulting and advisory firmCA 300B(1)(c),(d)Principal activitiesDuring the year, the principal activities of entities within the Group were to supply material aid toneedy people in the community. Such activities included accommodation care, family supportservices, child care, aged care, youth and employment services.There have been no significant changes in the nature of these activities during the year.CA 300B(1)(a)Short-term objectivesThe Group’s short-term objectives are to: offer community support services that develop wellbeing, resilience and transferable life skillssupport underprivileged people by engaging all sectors of the community in ongoingpartnerships and support programs; andbe a recognised leader in the provision of community support services as evidenced by thesuccess of programs and practicesLong-term objectivesThe Company’s long term objectives are to: CA 300B(1)(b),(d) & (e)establish and maintain relationships that foster social inclusion and community reconnectionfor underprivileged people; andbe sustainable and strive for continuous improvement so as to offer the best possibleoutcomes for the underprivileged people requiring our assistanceStrategy for achieving short and long-term objectivesTo achieve these objectives, the Group had adopted the following strategies: the Entity strives to attract and retain quality staff and volunteers who are committed toworking with underprivileged people in need, and this is evidenced by low staff turnover.The Entity believes that attracting and retaining quality staff and volunteers will assist withthe success of the Entity in both the short and long termstaff and volunteers work in partnership with a range of community stakeholders, and this isevidenced by ongoing support of the Entity’s projects and initiatives. The Group ensurescommunity stakeholders understand and are committed to the objectives of the Groupthrough ongoing education in order for the projects to succeed 2014 Grant Thornton Australia Ltd. All rights reserved.
Example Not-for-Profit Financial StatementsFor the year ended 31 December 2014 8staff and volunteers are committed to creating new and maintaining existing programs insupport of the underprivileged people. Committed staff and volunteers allow the Entity theability to engage in continuous improvement; andthe Entity’s staff and volunteers strive to meet consistent standards of best practice andprovide clear expectations of professional accountabilities and responsibilities to allstakeholders. This is evidenced by the performance of staff and volunteers who are assessedbased on these accountabilities; and ensures staff are operating in the best interests of theunderprivileged people and the GroupDirectors’ meetingsCA 300B (3)(c)The number of meetings of Directors (including meetings of Committees of Directors) held duringthe year and the number of meetings attended by each Director were as follows:Board MeetingsABBlake Smith1212Beth King1212Simon Murphy1211Alison French1212William Middleton22Where: CA 300B (3)(d) & (e)column A is the number of meetings the Director was entitled to attend;column B is the number of meetings the Director attendedContribution in winding upThe Company is incorporated under the Corporations Act 2001 and is a Company limited byguarantee. If the Company is wound up, the constitution states that each member is required tocontribute a maximum of 50 each towards meeting any outstanding obligations of the Entity. At31 December 2014, the total amount that members of the company are liable to contribute if theCompany wound up is 365,000 (2013: 365,000).CA 298(1AB)Auditors Independence DeclarationA copy of the Auditor’s Independence Declaration as required under s.307C of the Corporations Act2001 is included in page 9 of this financial report and form part of the Director’s Report.CA 298(2a)CA 298(2c)CA 298(2b)Signed in accordance with a resolution of the DirectorsBlake SmithDirector31 March 2015 2014 Grant Thornton Australia Ltd. All rights reserved.
Example Not-for-Profit Financial StatementsFor the year ended 31 December 20149Auditor’s Independence DeclarationGrant Thornton Audit Pty LtdACN 130 913 594Level 17, 383 Kent StreetSydney NSW 2000Locked Bag Q800QVB Post OfficeSydney NSW 1230T 61 2 8297 2400F 61 2 9299 4445E info.nsw@au.gt.comW www.grantthornton.com.auTo the Directors of Grant Thornton CLEARR Example LtdIn accordance with the requirements of section 307C of the Corporations Act 2001, as lead auditor forthe audit of Grant Thornton CLEARR Example Ltd for the year ended 31 December 2014,I declare that, to the best of my knowledge and belief, there have been:aNo contraventions of the auditor independence requirements of the Corporations Act 2001 inrelation to the audit; andbNo contraventions of any applicable code of professional conduct in relation to the audit.GRANT THORNTON AUDIT PTY LTDChartered AccountantsAB PartnerPartner – Audit & AssuranceSydney, 31 March 2015 2014 Grant Thornton Australia Ltd. All rights reserved.
Example Not-for-Profit Financial StatementsFor the year ended 31 December 201410Guidance Note: Statement of Profit or Lossand Other Comprehensive IncomeThe statement of profit or loss and other comprehensive income has been prepared in accordancewith AASB 101 Presentation of Financial Statements. The statement of profit or loss and othercomprehensive income may be presented in one of the following ways: in a single statement of profit or loss and other comprehensive income, orin two statements: a statement of profit or loss and a statement of comprehensive incomeThe example financial statements illustrate a statement of profit or loss and other comprehensiveincome (ie a single statement). A two statement presentation is shown in Appendix B of ourexample listed public financial statements.This statement of profit or loss and other comprehensive income format illustrates an example ofthe ‘nature of expense method’. See Appendix A of our example listed public financial statementsfor a format illustrating the ‘function of expense’ or ‘cost of sales’ method.AASB 101 requires the Entity to disclose reclassification adjustments and related tax effects relatingto components of other comprehensive income either on the face of the statement or in the notes.In this example the entity presents current year gains and losses relating to other comprehensiveincome on the face of the statement of profit or loss and other comprehensive income (AASB101.92). An Entity may instead present reclassification adjustments in the notes, in which case thecomponents of other comprehensive income are presented after any related reclassificationadjustments (AASB 101.94).According to AASB 101.90 an Entity shall disclose the amount of income tax relating to eachcomponent of other comprehensive income, either on the face of the statement of profit or loss andother comprehensive income or in the notes. In this example the Entity presents components ofother comprehensive income before income tax with one amount shown for the aggregate amountof income tax relating to all components of other comprehensive income (AASB 101.91(b)).Alternatively, the entity may present each component of other comprehensive income net of relatedtax effects, AASB 101.91(a). If the tax effects of each component of other comprehensive incomeare not presented on the face of the statement this information shall be presented in the notes (seeNote 17). 2014 Grant Thornton Australia Ltd. All rights reserved.
Example Not-for-Profit Financial StatementsFor the year ended 31 December 201411Consolidated Statement of Profit or Loss andOther Comprehensive IncomeFor the year ended 31 December 2014AASB 101.51(c)NotesAASB 101.51(d-e)20142013 ’000 ’000AASB 101.82(a)Revenue5115,902107,720AASB 101.85Other income51,7051,827AASB 101.85Changes in inventoriesAASB 101.85Costs of materialAASB 101.85Employee benefits expenseAASB 101.85Depreciation expenseAASB 101.85Amortisation expenseAASB (5,288)(382)(367)Loss on sale of property, plant and equipment(7,194)(231)AASB 101.85Forgiveness of loan(3,000)AASB 101.85Fundraising expenses(2,952)(2,702)AASB 101.85Other expenses(9,898)(9,015)Surplus / (deficit) before income tax(6,489)AASB 101.82(d)Income tax expenseAASB.101.82(f)Surplus / (deficit) for the yearAASB.101.82(g)Other comprehensive income:AASB 101.82AItems that will not be reclassified subsequently to profit or lossAASB.116.77(f)Revaluation of land, net of income taxAASB 101.82AItems that may be reclassified subsequently to profit or lossAASB 7.20(a)(ii)Net changes in fair value of Available for Sale financial assets, net ofincome taxOther comprehensive income for the period, net of income taxTotal comprehensive income / (loss) for the periodThis statement should be read in conjunction with the notes to the financial statements. 2014 Grant Thornton Australia Ltd. All rights (1,340)2271,103
Example Not-for-Profit Financial StatementsFor the year ended 31 December 201412Guidance Note: Consolidated Statement ofFinancial PositionThe statement of financial position complies with AASB 101.The statement of financial position includes a current / non-current distinction. When presentationbased on liquidity is reliable and more relevant, the Entity can choose to present the statement offinancial position in order of liquidity (AASB 101.60). The Entity will then not present a current /non-current distinction in the statement of financial position. However the disclosure requirementsfor amounts expected to be recovered or settled before or after twelve (12) months must still beapplied (AASB 101.61).These Example Financial Statements use the terminology in AASB 101; however an entity may useother titles (eg balance sheet) for the primary financial statements (AASB 101.10). 2014 Grant Thornton Australia Ltd. All rights reserved.
Example Not-for-Profit Financial StatementsFor the year ended 31 December 201413Consolidated Statement of Financial PositionAs at 31 December 2014AASB 101.51(c)AssetsNotesAASB 101.51(d-e)20142013 ’000 ’000AASB 101.60, AASB 101.66CurrentAASB 101.54(i)Cash and cash equivalents6101,55490,271AASB 101.54(h)Trade and other receivables714,53317,112AASB 101.54(g)Inventories91,017969AASB 101.54(d)Other assets12720977AASB 101.60Current assets117,824109,329AASB 101.60, AASB 101.66Non-currentAASB 101.54(h)Trade and other receivables712,23327,509AASB 101.54(d)Other financial assets8.27,32310,032AASB 101.54(a)Property, plant and equipment10259,045250,623AASB 101.54(c)Intangible assets111,1541,493AASB 101.60Non-current assets274,755289,657AASB 101.55Total assets397,579398,986AASB 101.57, AASB 101.51(c-e)LiabilitiesAASB 101.60, AASB 101.69CurrentAASB 101.54(k)Trade and other payables137,4608,147AASB 101.54(l)Provisions14.26,9606,960AASB 101.54(m)Borrowings158589Other liabilities1675237315,25715,5691,3081,063AASB 101.55Current liabilitiesAASB 101.60, AASB 101.69Non-currentAASB 101.54(l)ProvisionsAASB 101.55Non-current liabilitiesAASB 101.55Total liabilitiesAASB 101.55Net tyAASB 101.55Reserves5,21264AASB 101.54(r)Retained earnings17375,802382,290AASB 101.55Total equity381,014382,354This statement should be read in conjunction with the notes to the financial statements. 2014 Grant Thornton Australia Ltd. All rights reserved.
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Example Not-for-Profit Financial StatementsFor the year ended 31 December 201415Guidance Note: Consolidated Statement ofChanges in EquityEntities may present the required reconciliations for each component of other comprehensiveincome either: (1) in the statement if changes in equity; or (2) in the notes to the financial statements(AASB 101.106(d)(ii) and AASB 101.106A).These example financial statements present the reconciliations for each component of othercomprehensive income in the notes to the financial statements (see Note 14). This reducesduplicated disclosures and presents a clearer picture of the overall changes in equity. 2014 Grant Thornton Australia Ltd. All rights reserved.
Example Not-for-Profit Financial StatementsFor the year ended 31 December 201416Consolidated Statement of Changes in EquityFor the year ended 31 December 2014NotesAASB 101.51 (d-e)Reserves ’000AASB 101.106(d)Balance at 1 January 2013AASB 101.106(d)(i)Profit for the year(163)AASB 101.106(d)(ii)Other comprehensive incomeAASB 101.106(a)Total comprehensive income for the yearAASB 101.106(d)AASB 101.106(d)AASB 101.106(d)(i)Profit for the yearAASB 101.106(d)(ii)Other comprehensive incomeAASB 101.106(a)Total comprehensive income for the year5,148AASB 101.106(d)Balance at 31 December 20145,212RetainedEarnings ’000Total Equity ce at 31 December 201364382,290382,354Balance at 1 January 201464382,290382,3541717This statement should be read in conjunction with the notes to the financial statements. 2014 Grant Thornton Australia Ltd. All rights 340)381,014
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Example Not-for-Profit Financial StatementsFor the year ended 31 December 201418Guidance Note: Consolidated Statement ofCash FlowsThis format illustrates the direct method of determining operating cash flows (AASB 107.18(a)).An entity may also determine the operating cash flows using the indirect method (AASB 107.18(b)).\\ 2014 Grant Thornton Australia Ltd. All rights reserved.
Example Not-for-Profit Financial StatementsFor the year ended 31 December 201419Consolidated Statement of Cash FlowsFor the year ended 31 December 2014AASB 101.51(c)NotesAASB 101.51(d-e)AASB 107.1020142013 ’000 ’00013,19912,750Operating servicesReceipts from:Donations and appealsBequestsGovernment grantsClient contributionsSale of goodsDividend incomeInterest incomeOther incomeAASB 107.1019Purchase of AFS eds from disposals of AFS investments3,000Net cash provided by / (used in) investing activities1,607(11,449)Financing activitiesProceeds from bank loans--Repayment of bank loans--Net cash from / (used in) financing activities-Net change in cash and cash equivalentsCash and cash equivalents, beginning of yearAASB 107.453,95856,994Investing activitiesProceeds from disposals of property, plant and equipmentAASB 107.4526,628(109,881)Purchase of property, plant and equipmentAASB 107.107,25828,8291,586Payments to clients, suppliers and employeesNet cash provided by operating activities9,378Cash and cash equivalents, end of yearThis statement should be read in conjunction with the notes to the financial statements. 2014 Grant Thornton Australia Ltd. All rights reserved.6-11,287(5,950)90,18296,132101,46990,182
Example Not-for-Profit Financial StatementsFor the year ended 31 December 201420Notes to the Consolidated FinancialStatements1AASB 101.51(a)AASB 101.51(b)Nature of operationsGrant Thornton CLEARR Example Ltd and Subsidiaries’ (the Group) principal activities were tosupply material aid to needy people in the community. Such activities included accommodation care,family support services, child care, aged care, youth and employment services.2AASB 101.Aus 16.2-16.3AASB 101.138(a)AASB 101.138(c)AASB 101.51(c)AASB 110.17AASB 108.28General information and statement of complianceThe consolidated general purpose financial statements of the Group have been prepared inaccordance with the requirements of the Corporations Act 2001, Australian Accounting Standards andother authoritative pronouncements of the Australian Accounting Standards Board. A Statement ofCompliance with the International Financial Reporting Standards (IFRS) as issued by theInternational Accounting Standards Board (IASB) cannot be made due to the Group applying notfor-profit specific requirements contained in the Australian Accounting Standards.Grant Thornton CLEARR Example Ltd is the Group’s ultimate Parent Company. Grant ThorntonCLEARR Example Ltd is a Public Company limited by guarantee incorporated and domiciled inAustralia. The address of its registered office and its principal place of business is 55 Pitt Street,Sydney, NSW Australia.The consolidated financial statements for the year ended 31 December 2014 were approved andauthorised for issue by the Board of Directors on 31 March 2015.33.1Changes in accounting policiesNew and revised Standards that are effective for annual periods beginningon or after 1 January 20141A number of new and revised Standards are effective for annual periods beginning on or after1 January 2014. Information on these new Standards is presented below.AASB 10 Consolidated Financial StatementsAASB 10 supersedes the consolidation requirements in AASB 127 Consolidated and Separate FinancialStatements (AASB 127) and AASB Interpretation 112 Consolidation - Special Purpose Entities. AASB 10revises the definition of control and provides extensive new guidance on its application.1The discussion of the initial application of AASBs / IFRSs needs to be disclosed only in the first financial statements after the new or revisedrequirements have been adopted by the entity. 2014 Grant Thornton Australia Ltd. All rights reserved.
Example Not-for-Profit Financial StatementsFor the year ended 31 December 201421These new requirements have the potential to affect which of the Group’s investees are consideredto be subsidiaries and therefore to change the scope of consolidation. The requirements onconsolidation procedures, accounting for changes in non-controlling interests and accounting forloss of control of a subsidiary are unchanged.AASB 10 is applicable to not-for-profit entities for annual reporting periods beginning on or after1 January 2014.To assist not-for-profit entities applying the AASB 10, the AASB issued AASB 2013-8 Amendments toAustralian Accounting Standards – Australian Implementation Guidance for Not-for-Profit Entities – Control andStructured Entities on 31 October 2013. AASB 2013-8 added an appendix to AASB 10 to explain andillustrate how the principles in AASB 10 apply from the perspective of not-for-profit entities in theprivate and public sectors, particularly to address circumstances where a for-profit perspective doesnot readily translate to a not-for-profit perspective. Similarly, it added an appendix to AASB 12Disclosure of Interests in Other Entities, in relation to structured entities.AASB 10 (and AASB 2013-8) became applicable to not-for-profit entities for annual reportingperiods beginning on or after 1 January 2014.Management has reviewed its control assessments in accordance with AASB 10 and has concludedthat there is no effect on the classification (as subsidiaries or otherwise) of any of the Group’sinvestees held during the period or comparative periods covered by these financial statements.AASB 11 Joint ArrangementsAASB 11 supersedes AASB 131 Interests in Joint Ventures (AAS 131) and AASB Interpretation 113Jointly Controlled Entities- Non-Monetary-Contributions by Venturers. AASB 11 revises the categories ofjoint arrangement, and the criteria for classification into the categories, with the objective of moreclosely aligning the accounting with the investor’s rights and obligations relating to the arrangement.In addition, AASB 131’s option of using proportionate consolidation for arrangements classified asjointly controlled entities under that Standard has been eliminated. AASB 11 now requires the useof the equity method for arrangements classified as joint ventures (as for investments in associates).AASB 11 became applicable to not-for-profit entities for annual reporting periods beginning on orafter 1 January 2014.The adoption of AASB 11 has not had any impact on the Group as it is not a party to any jointarrangements.AASB 12 Disclosure of Interests in Other EntitiesAASB 12 integrates and makes consistent the disclosure requirements for various types ofinvestments, including unconsolidated structured entities. It combines the existing disclosures inAASB 127, AASB 128 and AASB 131, and introduces a range of new disclosure requirements. 2014 Grant Thornton Australia Ltd. All rights reserved.
Example Not-for-Profit Financial StatementsFor the year ended 31 December 201422AASB 12 became applicable to not-for-profit entities for annual reporting periods beginning on orafter 1 January 2014.The adoption of AASB 12 has not had any significant impact on the Group.AASB 2012-3 Amendments to Australian Accounting Standards – Offsetting Financial Assets andFinancial LiabilitiesAASB 2012-3 adds application guidance to AASB 132 to address inconsistencies identified inapplying some of the offsetting criteria of AASB 132, including clarifying the meaning of “currentlyhas a legally enforceable right of set-of
Consolidated Statement of Profit or Loss and Other Comprehensive Income 10 Consolidated Statement of Financial Position 13 Consolidated Statement of Changes in Equity 16 Consolidated Statement of Cash Flows 19 Notes to the consolidated financial statements 20 1 Nature of operations 20 .
2016 Open-NFP 1 P4: A Hands-on Introduction Open-NFP: Bapi Vinnakota, Mary Pham, Jici Gao 2016 Open-NFP 2 Tutorial Focused on getting you started with P4 development Is: . between programming model and the architecture. FPGA ASICs 2016 Open-NFP 12 Languages for the Data Plane
WHITE PAPER: Programming NFP with P4 and C Netr yst I page 3 of 9 not need to be aware of any NFP specific data structures. The P4 compiler and linker auto-matically maps the different part of the P4 program into the NFP internal resources in an efficient manner. The figure below shows an example of a very simple P4 program. The above program .
Overview of the Financial Statements The Village's basic financial statements are comprised of three components: 1) entity-wide financial statements; 2) fund financial statements; and 3) notes to the basic financial statements. This report also contains supplementary information in addition to the basic financial statements themselves.
Condensed set of Interim Financial Statements An entity complying with IAS 34 has a choice of preparing a condensed set of Interim Financial Statements or a full set of IFRS financial statements. These Interim Financial Statements illustrate a condensed set of Interim Financial Statements based on the requirements of IAS 34.8. Where a full set of
CERF CI I CERF CI II CERF CI II CERF CI II CERF CI II DIN 4102 B1 DIN 4102 B1 DIN 4102 B1 DIN 4102 B1 DIN 4102 B1 DIN 4102 B1 NFP M2 NFP M2 NFP M2 Most common width 250 cm 250, 300 cm 250 cm 250 cm 250 cm 250, 300 cm Higher strengths on requ
Mowat NFP works in partnership with the Ontario Nonprofit Network (ONN) to ensure our research and policy recommendations are timely and relevant to the sector and reflect its values. Sector Signals are a product of Mowat NFP. They are short descriptions and analyses of early warning signs that should be on the not-for-profit (NFP) sector's .
interim financial statements report 04 consolidated interim financial statements 28 financial statements 31 notes to financial statements 37 certification of the condensed consolidated interim financial statements pursuant to art. 154 bis, fifht paragraph, of legislative decree 58/98 and of art. 81 - ter of consob regulation n. 11971/99
ASU 2016-14 Financial Statement Example The AICPA's Not-for-Profit Expert Panel created this set of illustrative financial statements that shows the implementation of ASU 2016-14. This document provides a non-authoritative example of a possible presentation of a complete set of financial statements for a nongovernmental NFP that
