Information for investors
5. Non-IFRS financial information disclosures
Directors continue to review non-IFRS financial information disclosures against ASIC Regulatory Guide RG 230 Disclosing non-IFRS financial information.
6. Operating and financial review (OFR)
Directors should ensure that the OFR provides useful and meaningful information, including analysis and explanation of the underlying drivers of the material components of the result.
7. Current vs non-current
Directors should focus on the classification of the entity’s assets and liabilities between current and non-current. They should ensure that appropriate systems are in place, have regard to loan maturities and lending covenant breaches, and ensure that the classification is consistent with accounting standards and their understanding of the business.
8. Estimates and accounting policy judgements
Disclosures in this area are important to allow users of the financial report to assess the reported financial position and performance of an entity with all relevant and necessary information. Directors should review the disclosures to ensure they are specific to the assets, liabilities, income and expenses of the entity.
9. Financial instruments
Risks associated with financial instruments should be disclosed, together with how those risks are managed. Other disclosures include an ageing analysis of financial assets that are past due but not impaired and/or an analysis of impaired financial assets, and methods and significant assumptions used to value financial assets for which there was no observable market data.
10. New accounting standards
New accounting standards on consolidations, joint ventures and interests in other entities apply for periods beginning on or after
1 January 2013. The balance sheet at 30 June 2012 will form the opening balances of the first comparative period to which these standards will apply. The impact of the standards is required to be disclosed at 30 June 2012.
