Company: FXA
Filing Date: 2025-02-26
Form Type: 10-K
Source: 0000950170-25-027258
Chunk: 41

Company: Invesco CurrencyShares Australian Dollar Trust
Filing Date: 2025-02-26
Form: 10-K
Item: Item 1B
Chunk 41
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 Trust expenses and distribute any excess interest to holders of Shares (“Shareholders”) on a monthly basis. This Annual Report (the “Annual Report”) covers the years ended December 31, 2024 and 2023.

Note 3 – Summary of Significant Accounting Policies A.Basis of Presentation The financial statements of the Trust have been prepared using accounting principles generally accepted in the United States of America (“U.S. GAAP”). B.Accounting Estimates          The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates by a significant amount. In addition, the Trust monitors for material events or transactions that may occur or become known after the period-end date and before the date the financial statements are issued.C. Segment Reporting          In November 2023, the FASB issued Accounting Standards Update 2023-07, Segment Reporting (Topic 280):  Improvements to Reportable Segment Disclosures (“ASU 2023-07”), with the intent of improving reportable segment disclosure requirements, primarily through enhanced disclosures about significant segment expenses, allowing financial statement users to better understand the components of a segment's profit or loss and assess potential future cash flows for each reportable segment and the entity as a whole thereby enabling better understanding of how an entity's segments impact overall performance.  The Trust represents a single operating segment.  Subject to the oversight and, when applicable, approval of the Board of Managers, the Trust's Sponsor acts as the Trust's chief operating decision maker (“CODM”), assessing performance and making decisions about resource allocation.  The CODM monitors the operating results as a whole and the Trust's long-term strategic asset allocation is determined in accordance with the terms of its prospectus based on a defined investment strategy.  The financial information provided to and reviewed by the CODM is consistent with that presented in the Trust's financial statements.  Adoption of the new standard impacted the Trust's financial statement note disclosures only and did not affect the Trust's financial position or the results of its operations. 

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D.Foreign Currency Translation For Net Asset Value (“NAV”) calculation purposes, Australian Dollar deposits (cash) are translated at the Closing Spot Rate, which is the Australian Dollar/USD exchange rate as determined and published by The WM Company at 4:00 PM (London time / London fixing) on each day