As another 30 June deadline looms, finance professionals across the Queensland public sector are beginning to prepare financial statements for their entities.
With another 31 December financial year ending, finance teams across the state are pulling together financial statements for their entities.
Last year’s hot topic has carried forward to this financial year—the implications of the IFRS Interpretations Committee’s (IFRIC’s) agenda decision Configuration or Customisation Costs in a Cloud Computing Arrangement (April 2021).
Internal controls are the people, systems, and processes that ensure an entity can achieve its objectives, prepare reliable financial reports, and comply with applicable laws.
The hot topic for this financial year appears to be the implications of the IFRS Interpretations Committee’s (IFRIC’s) agenda decision Configuration or Customisation Costs in a Cloud Computing Arrangement (April 2021)1.
The standard AASB 16 Leases is now in its second year of operation for public sector entities. In this article, we cover a brief update on some specific accounting issues that you may not have dealt with on transition.
The day-to-day operations of public sector entities are getting busier all the time and changes to everyday activities can be seen as disruptive.
As our 31 December year-end clients finalise their financial statements, it’s a timely reminder to not make immaterial changes.
Queensland Treasury Financial Reporting Requirements (FRRs) for 2019–20 are available on Queensland Treasury’s website: www.treasury