Document ID: chunk:federal_register_of_legislation:F2025C00209:reg:221:p4
Version: federal_register_of_legislation:F2025C00209
Segment Type: reg
Provision Reference: reg 221 (pt 4/73)
Character Range: 166371–169715

or when the asset is acquired).
      3.                  An entity shall disclose the judgements, and changes in the judgements, made in applying AASB 1058 that significantly affect the determination of the amount and timing of income arising from transfers to enable an entity to acquire or construct a recognisable non-financial asset to be controlled by the entity. In particular, an entity shall explain the judgements, and changes in the judgements, made in determining the timing of satisfaction of obligations (see paragraphs 236 and 237).
      4.                  For obligations that an entity satisfies over time, an entity shall disclose the methods used to recognise income (for example, a description of the output methods or input methods used and how those methods are applied).
      5.                  For obligations satisfied at a point in time, an entity shall disclose the significant judgements made in evaluating when it has satisfied its obligations.

Compliance with parliamentary appropriations and other related authorities for expenditure
      1.                  Paragraphs 239 to 241 apply only to government departments and other public sector entities that obtain part or all of their spending authority for the period from a parliamentary appropriation. The amounts disclosed in accordance with paragraphs 239–241 include any amounts appropriated in respect of which the entity recognises revenue or other income in accordance with another Australian Accounting Standard.
      2.                  An entity shall disclose:
           1.                    a summary of the recurrent, capital or other major categories of amounts authorised for expenditure (including parliamentary appropriations), disclosing separately:
                1.                      the original amounts appropriated; and
                2.                    the total of any supplementary amounts appropriated and amounts authorised other than by way of appropriation (eg by the Treasurer, other Minister or other legislative authority);
           1.                    the expenditures in respect of each of the items disclosed in (a) above; and
           2.                    the reasons for any material variances between the amounts appropriated or otherwise authorised and the resulting associated expenditures, and any financial consequences for the entity of unauthorised expenditure.
      1.                  For the purposes of resource allocation decisions, including assessments of accountability, AASB 1058 requires that users of financial statements of government departments and other public sector entities that obtain part or all of their spending authority for the period from a parliamentary appropriation be provided with information about the amounts appropriated or otherwise authorised for the entity's use, and whether the entity's expenditures were as authorised. This information may be based on acquittal processes applied by an entity. When spending limits imposed by parliamentary appropriation or other authorisation have not been complied with, information regarding the amount of, and reasons for, the non-compliance is relevant for assessing the performance of management, the likely consequences of non-compliance, and the ability of the entity to continue to provide services at a similar