Financial Reporting Requirements for Queensland Government Agencies

These annual financial statement requirements include the Minimum Reporting Requirements and assist agencies in the preparation of their financial statements. The requirements provide updates on new and revised accounting policies and standards and additional guidance and advice on the application of such policies and standards.

For further information:
fmhelpdesk@treasury.qld.gov.au

PART 1 – INTRODUCTION AND PRESCRIBED ACCOUNTING STANDARDS
FRR 1A Introduction and Prescribed Accounting Standards
Lease Contract Review and Data Collection Worksheet
PART 2 – BASIS OF PREPARATION
FRR 2A Basis of Financial Statement Preparation
FRR 2B Materiality
FRR 2C Changes in Accounting Policies and Estimates
FRR 2D Form and Content of Financial Statements
FRR 2E Controlled and Administered Items, Trust Transactions and Agency Arrangements
FRR 2F Machinery-of-Government Changes
FRR 2G Consolidated Financial Statements and Controlled Entities
FRR 2H Interests in Associates and Joint Arrangements
FRR 2I Management Certificate
PART 3 – FINANCIAL PERFORMANCE
FRR 3A Statement of Comprehensive Income
FRR 3B Income
FRR 3C Employee Benefit Expenses and Key Management Personnel Remuneration
FRR 3D Expenses
FRR 3E Distinction between Grants and Procurement Revenue and Expense
PART 4 – FINANCIAL POSITION
FRR 4A Statement of Financial Position
FRR 4B Assets
FRR 4C Employee Benefit Liabilities
FRR 4D Liabilites
FRR 4E Financial Instruments
FRR 4F Equity, Contributions by Owners and Distributions to Owners
PART 5 – OTHER DISCLOSURE REQUIREMENTS
FRR 5A Statement of Cash Flows
FRR 5B Related Party Transactions
Non-Ministerial KMP related party declaration form – Part A
Non-Ministerial KMP related party declaration form – Part B
Non-Ministerial KMP related party declaration form – Explanatory Information
FRR 5C Budgetary Reporting Disclosures
FRR 5D Service Concession Arrangements
FRR 5E Commitments
PART 6 – ILLUSTRATIVE MODEL FINANCIAL STATEMENTS
FRR 6A Sunshine Department Model Financial Statements (Tier 1)
FRR 6B Future Bay Regional Health Foundation (Tier 2)
SUMMARY OF NOTEWORTHY CHANGES
This Summary of Noteworthy Changes lists noteworthy amendments reflected in the Financial Reporting Requirements for reporting periods beginning on or after 1 July 2017. It is an updated version of the corresponding summary issued in conjunction with the draft FRRs in March 2018. Further amendments since the release of the draft FRRs are indicated by shading.

Summary of Noteworthy Changes

SUMMARY OF QUEENSLAND TREASURY RESPONSES TO STAKEHOLDER FEEDBACK
This document summarises stakeholder feedback received regarding the draft FRRS issued for comment in March 2018, and explains how Queensland Treasury has addressed feedback (and if not incorporated into the May 2018 final version, the reasons for this).

Summary of Queensland Treasury response to stakeholder feedback