Reporting to the
ACNC
Mark Dowling | Senior Accountant
Kate McFarlane | Senior Education and Policy Officer
7 December 2015
acnc.gov.au/webinars
Reporting to the ACNC
Agenda
When do I report?
What information do I report?
Getting financial reporting right
Reporting arrangements to help you transition to
reporting to the ACNC
How do I report?
Prepare to report
When do I report?
acnc.gov.au/reportingduedates
When do I report?
Red marks for late filers
!
!
!
 Red marks now appear on the entries of over
5 000 registered charities
 Applies to charities who are six months late
or more
 Helps the public identify charities that are
not meeting their obligations.
What information do I report?
Size affects reporting obligations
acnc.gov.au/charitysize
acnc.gov.au/basicreligiouscharity
acnc.gov.au/forms
What information do I report?
Size is based on annual revenue
www.accountingforgood.com.au/acnc-calculator/
What information do I report?
Annual Information Statement and financial report
All charities submit an Annual Information Statement and
an annual financial report (if medium or large in size).
Annual Information Statement
• Non-financial questions relate to your charity’s
–
–
–
–
–
activities
beneficiaries
operating locations
high-level financial information
Governing documents, responsible persons and subtypes (current
and accurate?)
• Financial information questions
– Small charities: 9 questions
– Medium charities: 12 questions
acnc.gov.au/reporting
australiancharities.acnc.gov.au
– Large charities: 15 questions
What information do I report?
Financial reporting by size
Small
Medium
Large
Optional report
Must report
Must report
•
Special purpose
financial statement
(optional) or
•
Reduced disclosure
regime general
purpose financial
statement (optional) or
Type of
statement
•
Full general purpose
financial statement
(optional)
Cash or
Can use accrual or cash
accrual
Review or No requirement for review
audit or audit
•
Special purpose
financial statement (if
not a “reporting entity”)
or
•
Special purpose
financial statement (if
not a “reporting entity”)
or
•
Reduced disclosure
regime general
purpose financial
statement or
•
Reduced disclosure
regime general
purpose financial
statement or
•
Full general purpose
financial statement
•
Full general purpose
financial statement
Must use accrual
Must use accrual
Must submit reviewed or
audited financial report
Must submit audited
financial report
What information do I report?
Financial reporting guidance
Cash and accrual accounting
acnc.gov.au/cashaccrual
Type of financial statement: special and general
acnc.gov.au/financialstatements
Review or audit
acnc.gov.au/reviewaudit
What information do I report?
Type of financial statement
acnc.gov.au/financialstatements
What information do I report?
Special purpose: 6 minimum accounting standards
• AASB 101, Presentation of Financial Statements
• AASB 107, Statement of Cash Flows
• AASB 108, Accounting Policies, Changes in
Accounting Estimates and Errors
• AASB 1031, Materiality
• AASB 1048, Interpretation of Standards
• AASB 1054, Australian Additional Disclosures
www.aasb.gov.au
What information do I report?
Financial reporting for charities
Charities with no transitional reporting arrangements must submit:
(optional for small charities)
• financial report for the reporting period, including:
• statement of profit or loss and other comprehensive income
• statement of financial position
• statement of changes in equity
• statement of cash flows
• notes to the financial statements
• responsible persons’ declaration about the statements and notes
(responsible entities' declaration) - signed and dated.
• reviewer’s report/auditor’s report - signed and dated. (medium)
• auditor's report - signed and dated. (large)
acnc.gov.au/2015AISchecklist
acnc.gov.au/templates
Getting financial reporting right
Financial information in the Annual Information Statement
• Know your charity size
• Know your financial report type
• Will you self-assess as a basic religious charity? Know
the requirements
• Check that the financial information you enter is correct
• Remember to provide financial information
acnc.gov.au/basicreligiouscharity
Getting financial reporting right
Annual financial report
• Remember to submit your financial reports, including the
financial statements
• Preparing a special purpose financial statement?
Remember the accounting standards.
• Check you have an accounting policy note and it is
correct
• Preparing a general purpose financial statement? Check
the completeness and quality of the related party
disclosures
• Make sure you attach all required documents
acnc.gov.au/2015AIS
[email protected]
Reporting arrangements to help you
transition to reporting to the ACNC
Already report to another regulator
2015 reporting period (2015 Annual Information Statement)
• Australian Securities and Investments Commission
• Office of the Registrar of Indigenous Corporations
• State or territory regulators of incorporated associations,
cooperatives or charitable fundraisers
• Department of Education and Training
acnc.gov.au/transitionalreporting
Reporting arrangements to help you
transition to reporting to the ACNC
Adjusting to a new style of reporting
2015 reporting period
• Comparative information
• Extension until 31 January 2016 (charities that use a
standard reporting period of 1 July to 30 June)
acnc.gov.au/transitionalreporting
How do I report?
Charity Portal
How do I report?
Charity Portal cont.
Prepare to report
Guidance and tools
acnc.gov.au/[year]AIS
acnc.gov.au/2015AIS
acnc.gov.au/2014AIS
Prepare to report
Guidance by charity size
acnc.gov.au/smallreporting
acnc.gov.au/mediumreporting
acnc.gov.au/largereporting
Prepare to report
Finding guidance on our website
acnc.gov.au/reporting
Prepare to report
Keep records
Your charity needs to maintain:
Operational
Records
Financial
records
• Record and explain what
your charity has done (its
activities)
• Record and explain your
charity’s financial position
and any transactions
• For example: annual
reports, meeting agendas
and minutes, operational
plans, reports from
events, client records etc.
• For example: financial
statements, cash flow
statements, bank
statements, details of any
contracts, leases etc.
acnc.gov.au/recordkeeping
More information
► acnc.gov.au/2015AIS
► acnc.gov.au/reporting (related and external resources)
► acnc.gov.au/reportingduedates
► acnc.gov.au/charitysize
► acnc.gov.au/transitionalreporting
► acnc.gov.au/financialstatements
► acnc.gov.au/cashaccrual
► acnc.gov.au/reviewaudit
► acnc.gov.au/recordkeeping
► acnc.gov.au/forms
► acnc.gov.au/templates
► www.accountingforgood.com.au/acnc-calculator/
Contact the ACNC
Stay in touch
• acnc.gov.au
• 13 ACNC (13 22 62)
9.00 am – 6.00 pm AEST
• [email protected]
facebook.com/acnc.gov.au
@acnc_gov_au
youtube.com/ACNCvideos
THANK
YOU
2016 webinars
Register at acnc.gov.au/webinars
[email protected]