Document ID: chunk:federal_register_of_legislation:F2025C00209:reg:221:p5
Version: federal_register_of_legislation:F2025C00209
Segment Type: reg
Provision Reference: reg 221 (pt 5/73)
Character Range: 169448–172873

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 or different level in the future.
      2.                  Broad summaries of the major categories of appropriations and associated expenditures, rather than detailed reporting of appropriations for each activity or output, is sufficient for most users of such an entity's financial statements. Determining the level of detail and the structure of the summarised information is a matter of judgement. To develop effective disclosures, entities also subject to AASB 1055 might consider the variance disclosure requirements in that Standard at the same time.

Service concession arrangements: grantors that are public sector entities[44]
      1.                  The objective of the disclosure requirements is for a public sector grantor to disclose sufficient information to enable users of financial statements to understand the nature, amount, timing and uncertainty of assets, liabilities, revenue and cash flows arising from service concession arrangements. To achieve this, an entity shall consider disclosing qualitative and quantitative information about its service concession arrangements, including the following:
           1.                    a description of the arrangements;
           2.                    significant terms of the arrangements that may affect the amount, timing and uncertainty of future cash flows (eg the period of the arrangement, re-pricing dates and the basis upon which re-pricing or renegotiation is determined);
           3.                    the nature and extent (eg quantity, time period, or amount, as appropriate) of:
                1.                      rights to receive specified services from the operator;
                2.                    the carrying amount of service concession assets as at the end of the reporting period, including separate disclosure for existing assets of the grantor reclassified as service concession assets during the reporting period;
                3.                  rights to receive specified assets at the end of an arrangement;
                4.                  renewal and termination options;
                5.                    other rights and obligations (eg major overhaul of service concession assets); and
                6.                  obligations to provide the operator with access to service concession assets or other revenue-generating assets; and
           1.                    changes in arrangements occurring during the reporting period.
      1.                  The disclosures provided by an entity in accordance with paragraph 242 are provided individually for each material service concession arrangement or in aggregate for service concession arrangements involving services of a similar nature, in addition to disclosures required by the sections covering Property, Plant and Equipment and Investment Property at Cost and Intangible Assets other than Goodwill. Service concession assets of a similar nature may form a subset of a class of assets disclosed in accordance with these sections or may be included in more than one class of assets disclosed in accordance with these sections. For example, for the purposes of