The model financial statements are developed by the Department of Treasury and Finance (DTF) to assist government agencies in South Australia. They help agencies to comply with accounting standards and other mandatory requirements and provide consistency in the presentation of the financial statements.
The Under Treasurer has approved the release of the final version of the Tier 1 and Tier 2 not-for-profit model financial statements and for-profit model financial statements. Accordingly, the Department of Treasury and Finance has released the 2018 preferred reporting formats.
The model reflects new and revised standards for the year ending 30 June 2018.