Document ID: chunk:federal_register_of_legislation:F2015L00813:body:0:p4
Version: federal_register_of_legislation:F2015L00813
Segment Type: other
Provision Reference: 
Character Range: 8290–11440

Act.

SRF 320.1: Statement of Financial Position

Australian Business Number  Institution Name

Reporting Period            Scale Factor      Reporting Consolidation

 1. Total assets
  1.1.  of which: Investments
  1.2.  of which: Deferred tax assets

2.  Total liabilities

3.  Net assets available for members' benefits

4.  Total reserves

5.  Total liability for members' benefits
  5.1.  Defined contribution members' benefits
  5.2.  Defined benefit members' benefits
  5.3.  Unallocated contributions

6.  Surplus/deficit in net assets

Reporting Form SRF 320.1

Statement of Financial Position

Instructions

These instructions assist completion of Reporting Form SRF 320.1 Statement of Financial Position (SRF 320.1). SRF 320.1 collects information on the financial position of a defined benefit sub-fund within a registrable superannuation entity (RSE).  Information reported in SRF 320.1 is required primarily for prudential and publication purposes.

Reporting level

SRF 320.1 must be completed for each defined benefit sub-fund.

Reporting basis and unit of measurement

Report all items on SRF 320.1 in accordance with the Australian Accounting Standards unless otherwise specified.

Items on SRF 320.1 must be reported as at the end of the reporting period.

Items on SRF 320.1 are to be reported as thousands of dollars.

Specific instructions

Terms highlighted in bold italics indicate that the definition is provided in these instructions.

Item 1 to item 6 inclusive collect information about the assets and liabilities of the sub-fund.

Item 1       Report total assets in item 1.

             Report the portion of total assets reported in item 1 that is investments in item 1.1.

             Report the portion of total assets reported in item 1 that is deferred tax assets in item 1.2.

Assets       Represents a resource: (a) controlled by an entity as a result of past events; and (b) from which future economic benefits are expected to flow to the entity. Reference: Australian Accounting Standards.

Investments  Represents the purchase of a financial product or other item of value with an expectation of favourable future returns. Excludes: derivative assets, derivative liabilities and property, plant and equipment.

Deferred tax assets  Represents the value of income taxes recoverable in future periods in respect of: (a) deductible temporary differences; (b) the carry forward of unused tax losses; and (c) the carry forward of unused tax credits. Reference: Australian Accounting Standards.

Item 2       Report total liabilities in item 2.

Liabilities  Represents a present obligation of the entity arising from past events, the settlement of which is expected to result in an outflow from the entity of resources embodying economic benefits. Reference: Australian Accounting Standards.

Item 3                                      Item 3 is a derived item. Report net assets available for members' benefits in item 3 as total assets reported in item 1 minus total liabilities reported in item 2.

Net assets available for members' benefits  Represents the surplus of total assets