TPP06-05 Financial Reporting Code for Budget Dependent General Government Sector Agencies

The Financial Reporting Code for Budget Dependent General Government Sector Agencies sets out the financial reporting framework for Budget Dependent agencies, outlining the form and content of financial reports and the accompanying note disclosures. The Code is issued to all Budget dependent agencies under delegation from the Treasurer in accordance with the Public Finance and Audit Act 1983. The Code incorporates the requirements of Australian Accounting Standard AAS 29 Financial Reporting by Government Departments. To assist agencies, the Code also cross-references various other Accounting Standards and Treasury Circulars. However, the Code does not reflect all Accounting Standard disclosure requirements (apart from AAS 29).

Where an Accounting Standard requires a disclosure not covered by the Code, it must also be included in an agency's financial report. This edition of the Financial Reporting Code for Budget Dependent General Government Sector Agencies supersedes the previous version, issued as NSW Treasury Policy and Guidelines Paper TPP 03-3. The Code is applicable to all Budget Dependent General Government Sector Agencies for financial years beginning on or after 1 January 2005. The Code has been updated as part of the adoption of Australian equivalents to International Financial Reporting Standards (AEIFRS). Further information concerning operation of the Code may be obtained from Accounting Policy on 9228 4095.