Financial reports are prepared in accordance with Australian Accounting Standards and Interpretations (AASs) as issued by the Australian Accounting Standards Board (AASB). Since 1 January 2005, AASs include the Australian equivalents to International Financial Reporting Standards (IFRSs).
Where an AASB standard provides accounting treatment options, the Department of Treasury and Finance issues Financial Reporting Directions (FRDs) to ensure consistent application of accounting treatment across the Victorian public sector in compliance with that particular standard. FRDs are also issued to impose other government non-financial policy and disclosure requirements.
The following FRDs have been promulgated to be applicable to Victorian public sector agencies as at 1 June 2005. Refer to each FRD for its applicable date. The FRDs comprise two groups as follows:
FRD 100 Financial Reporting Directions – Framework (486 kb Word)
FRD 101 First-time Adoption - 11 Mar 2005 (460 kb Word)
FRD 102 Inventories (454 kb Word)
FRD 103D Non-Current Physical Assets (170 kb PDF)
FRD 104 Foreign Currency - 11 Mar 2005 (459 kb Word)
FRD 105 Borrowing Costs (446 kb Word)
FRD 106 Impairment of Assets - 11 Mar 2005 (461 kb Word)
FRD 107 Investment Properties - 11 Mar 2005 (457 kb Word)
FRD 108 Classification of Entities as For-Profit (452 kb Word)
FRD 109 Intangible Assets - 11 Mar 2005 (492 kb Word)
FRD 110 Cash Flow Statements - 11 Mar 2005 (454 kb Word)
FRD 112B Defined Benefit Superannuation Obligations (40 kb PDF)
FRD 115 Non-Current Physical Assets - First-time Adoption - 11 Mar 2005 (490 kb Word)
FRD 116 Financial Instruments-PFCs (662 kb PDF)
FRD 117 Contributions of Existing Non-Financial Assets to Third Parties (73 kb PDF)
FRD 118 Land under roads (48 kb PDF)
FRD 119 Contributions by Owners (172 kb PDF)
FRD 120C Accounting and Reporting Pronouncements Applicable to 2008-09 Reporting Period (88 kb PDF)
FRD 121 Infrastructure assets (38 kb PDF)
FRD 03A Accounting for Dividends (461 kb PDF)
FRD 07A Early Adoption of Authoritative Accounting Pronouncements (445 kb Word)
FRD 8B Consistency of Budget and Departmental Reporting (38 kb Word)
FRD 09A Departmental Disclosure of Administered Assets and Liabilities by Activity (609 kb Word)
FRD 10 Disclosure Index (464 kb Word)
FRD 11 Disclosure of Ex-gratia Payments (456 kb Word)
FRD 12A Disclosure of Major Contracts (451 kb Word)
FRD 13 Disclosure of Parliamentary Appropriations (604 kb Word)
FRD 14 Disclosures in Annual Reports by Public Sector Superannuation Schemes (484 kb Word)
FRD 15B - Executive Officer Disclosures in the Report of Operations by Departments (45 kb PDF)
FRD 17A Long Service Leave Wage Inflation and Discount Rates (447 kb Word)
FRD 19 Private Provision of Public Infrastructure (449 kb Word)
FRD 20A Accounting for State Motor Vehicle Lease Arrangements prior 1 February 2004 (450 kb Word)
FRD 21A Responsible Person and Executive Officer Disclosures in the Financial Report (490 kb Word)
FRD 22B - Standard Disclosures in the Report of Operations (42 kb Word)
FRD 24C - Reporting of Office-based Environmental Data by Government Entities (499 kb Word)
FRD 25 Victorian Industry Participation Policy Disclosures in the Report of Operations (479 kb Word)
FRD 26A Accounting for VicFleet Motor Vehicle Lease Arrangements on or after 1 February 2004
FRD 27A Presentation and Reporting of Performance Information (526 kb Word)
Guidance Note to FRD 29 “Workforce Data disclosures in the Report of Operations” (34 kb PDF)
