Model financial statements
Reduced Disclosure Regime (RDR)
Early adoption for financial years ending on or after 30 June 2014
The AASB’s Reduced Disclosure Requirements (RDR) provides an opportunity for ‘for-profit’ reporting entities without ‘public accountability’, ‘not-for-profit’ reporting entities and some public sector entities to present substantially less disclosure when preparing Tier 2 general purpose financial statements.
Our objective in this publication:
If you have already adopted RDR - to assist you as you respond to changes to financial reporting requirements for the June 2014 reporting season.
If you are considering adopting RDR in the current year - to assist you in identifying disclosures in your annual financial report that are not required when preparing general purpose financial statements under RDR.
This publication follows a similar format to the “Deloitte 2014 Model Financial Statements” applicable to Tier 1 reporters and highlights those sections where reduced disclosures may be available.