Register / AASB 18 Presentation and Disclosure in Financial Statements / AASB 18 paragraph Aus23.2
A government presents every relevant AASB 1049 line item
A government presents all relevant line items that AASB 1049 requires in its primary financial statements, notwithstanding the AASB 18 paragraph 23 judgement about a useful structured summary.
Why the paragraph exists
Government reporting formats are prescribed by AASB 1049. AASB 18 does not open those formats to a materiality judgement.
In practice
Each government reporting set has its own prescribed format. Map the AASB 1049 lines separately, because a single mapping across both statements hides the differences.
The paragraph uses 'government', not every public sector entity. Confirm the reporting entity is the government that applies AASB 1049 before you apply it.
The mistake to avoid
The common mistake is to apply the government paragraph to a department that does not prepare AASB 1049 statements.
Who it binds
A government applying AASB 1049 Whole of Government and General Government Sector Financial Reporting.
What to do before the date
- Confirm the entity falls in this group: Government (AASB 1049).
- Put the requirement into the financial statements preparation plan: a government presents every relevant aasb 1049 line item.
- Open a workpaper for the first evidence item: A mapping of the AASB 1049 line items to each government statement published.
Evidence an auditor will ask for
Dates
| Date | What it means | Applies to |
|---|---|---|
| 2027-12-31 | The instrument commences for this paragraph | government |
| 2028-01-01 | First annual periods beginning on or after this date apply the Standard | government |
Commencement and application are separate tests.
Cross-references
- AASB 18 paragraphs 23 and B8
- AASB 1049
- AASB 18 paragraph AusB8.2
Record note
The paragraph names a government applying AASB 1049, not every public sector entity.
Questions
What does AASB 18 paragraph Aus23.2 require in practice?
Each government reporting set has its own prescribed format. Map the AASB 1049 lines separately, because a single mapping across both statements hides the differences.
What is the common mistake under AASB 18 paragraph Aus23.2?
The common mistake is to apply the government paragraph to a department that does not prepare AASB 1049 statements.
What evidence should be kept?
At least: A mapping of the AASB 1049 line items to each government statement published.; The published statements with the AASB 1049 line items identified. The kit carries each one as a row with an owner column to complete.
Source
This page is our statement of the paragraph, cited so you can check it. Read F2026L01162 on legislation.gov.au.
Source pointer: AASB 18 paragraph Aus23.2. Record retrieved 2026-10-20.