Document ID: chunk:federal_register_of_legislation:F2018L00592:body:0:p2
Version: federal_register_of_legislation:F2018L00592
Segment Type: other
Provision Reference: 
Character Range: 2829–5845

committee of management and other holders of office in relation to the financial management of the reporting unit. In addition, the reporting guidelines seek to improve the quality of information available to users of the GPFR about the reporting unit's economic support of, or economic dependency on, other reporting units of the organisation and other entities.

General requirements for presentation and disclosures in GPFR
8.              It is a requirement that all reporting units apply the Tier 1 reporting requirements as per the Australian Accounting Standard AASB 1053 Application of Tiers of Australian Accounting Standards.
9.              The reporting unit must disclose in the notes to the financial statements the notice required by subsection 272(5) of the RO Act drawing attention to subsections (1), (2) and (3) of section 272 and setting out those subsections.
10.          Where a reporting unit's ability to continue as a going concern is reliant on the agreed financial support of another reporting unit(s) this must be disclosed in the notes to the financial statements. The reporting unit must disclose:
       a)             the name of the reporting unit(s) from which the agreed financial support is derived; and
b)             the terms and conditions attached to this agreed financial support.
11.          Where a reporting unit has agreed to provide financial support to ensure another reporting unit(s) has the ability to continue as a going concern this must be disclosed in the notes to the financial statements. The reporting unit must disclose:
       a)             the name of the reporting unit(s) to which the agreed financial support is directed;
       b)             the terms and conditions attached to this agreed financial support.
12.          Where a reporting unit acquires an asset or a liability during the financial year as a result of:
       a)             an amalgamation under Part 2 of Chapter 3, of the RO Act in which the organisation (of which the reporting unit forms part) was the amalgamated organisation; or
       b)             a restructure of the branches of the organisation; or
       c)              a determination by the General Manager of the Fair Work Commission under subsection 245(1) of the RO Act of an alternative reporting structure for the organisation; or
       d)             a revocation by the General Manager of the Fair Work Commission under subsection 249(1) of the RO Act of a certificate issued to an organisation under subsection 245(1),
    the reporting unit must disclose in the notes to the financial statements in respect of each such asset or class of assets or each such liability or class of liabilities:
       e)             the date acquired;
       f)               a description; and
       g)             the name of the entity (including a reporting unit of the organisation or that of another organisation) from which it was acquired.

Statement of comprehensive income

Revenue
13.          Total amounts