Document ID: chunk:federal_register_of_legislation:F2024L00708:body:0:p131
Version: federal_register_of_legislation:F2024L00708
Segment Type: other
Provision Reference: 
Character Range: 364705–367692

comprehensive income in AASB 18AASB 101.

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33 Under AASB 18AASB 101, an entity may present a single statement of profit or loss and other comprehensive income, with profit or loss and other comprehensive income presented in two sections.  The sections shall be presented together, with the profit or loss section presented first followed directly by the other comprehensive income section.  An entity may present the profit or loss section in a separate statement of profit or loss.  If so, the separate statement of profit or loss shall immediately precede the statement presenting comprehensive income.  This Standard requires a single statement of profit or loss and other comprehensive income option to be adopted, and therefore requires all recognised income and expenses to be included in a single statement that presents the comprehensive result (total change in net worth [before transactions with owners in their capacity as owners, where they exist]).

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Whole of government and GGS statements of changes in equity
34A The whole of government statement of changes in equity and the GGS statement of changes in equity, and notes thereto, shall be presented in a manner consistent with the requirements in AASB 18 AASB 101.

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Notes

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Other explanatory notes

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42 In relation to the requirements in paragraph 41(a)(i), differences in the key fiscal aggregates determined under the ABS GFS Manual and pursuant to paragraph 16 of this Standard arise from differences in definition, recognition, measurement and certain classification requirements.  Each difference gives rise to the need for disclosure of a reconciliation and an explanation of the difference.  Examples of such differences include:

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(b)                   in a whole of government context only:
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(ii) outgoing dividends – under the ABS GFS Manual, outgoing dividends are classified as an expense, whereas under AASB 18AASB 101 a dividend is treated as a distribution to owners.

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47 Paragraph 113 of AASB 18 112 of AASB 101 requires additional information to be provided disclosed in notes that is not presented in the statement of financial position, statement of comprehensive income, statement of changes in equity and statement of cash flows but is necessary for relevant to an understanding of them.  Consistent with this, the components of aggregate numbers presented in those statements, including key fiscal aggregates, are disclosed in the notes where relevant.

AASB 1052 Disaggregated Disclosures (December 2007)
Paragraph 20 is amended. New text is underlined and deleted text is struck through.

Disclosure of service costs and achievements by government departments

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Identifying major activities of government departments
20 Judgement is required to identify those activities of a government department that warrant separate disclosure in the complete set of financial statements. Exercising this judgement involves a consideration of