Document ID: chunk:federal_register_of_legislation:F2023C00190:reg:1
Version: federal_register_of_legislation:F2023C00190
Segment Type: reg
Provision Reference: reg 1
Character Range: 37755–40747

1   Compliance with all recognition and measurement requirements in Australian Accounting Standards including AASB 10 and AASB 128                                                                                                                                                                                                                                                                                                                                                                                                                                                     Charity A Inc is a not-for-profit entity.  The Members of the Governing / Management Committee are of the opinion that the Association is not a reporting entity as users may obtain the financial information they require upon request.  These special purpose financial statements have therefore been prepared in order to meet the requirements of the [Australian Charities and Not-for-profits Commission Act 2012 / insert further details of the not-for-profit reporting framework under which the financial statements are prepared].
    Charity A Inc, a not-for-profit parent, prepares consolidated special purpose financial statements that:                                                                                                                                                                                                                                                                                                                                                                                                                                                                           Charity A Inc has consolidated all its subsidiaries consistent with the requirements set out in AASB 10 Consolidated Financial Statements and equity accounted for its investments in associates and joint ventures in a manner consistent with the requirements set out in AASB 128 Investments in Associates and Joint Ventures.
        * consolidate all its subsidiaries in a manner consistent with the requirements set out in AASB 10;                                                                                                                                                                                                                                                                                                                                                                                                                                                                            These consolidated special purpose financial statements comply with all the recognition and measurement requirements in Australian Accounting Standards.
        * equity account all its investments in associates and joint ventures in a manner consistent with the requirements set out in AASB 128; and
        * apply accounting policies that comply with all the recognition and measurement requirements in Australian Accounting Standards.