Part 3: Australian Accounting Standards
Financial Statements

This part presents financial statements prepared in accordance with applicable Australian Accounting Standards (AAS), being the Australian Equivalents to International Financial Reporting Standards (AEIFRS) and AAS 31 Financial Reporting by Governments, except where departures from the standard are identified in Note 1. This part also provides notes showing disaggregated information and month of June figures.

A reconciliation between the Australian Government's general government AAS and Government Finance Statistics (GFS) revenue, expenses and operating result is provided in Appendix A.

Table 27: Australian Government general government sector income statement

1. The month of June is derived by deducting May year-to-date published data from the annual outcome. Statistically, June movements in some series relate to earlier published months that are not reissued, this can result in negative movements.

Table 28: Australian Government general government sector balance sheet

Table 29: Australian Government general government sector statement of changes in equity

1. Other reserves includes the removal of Telstra following its sale. Under AEIFRS, fair value gains (and losses) are recorded in equity until the investment is sold at which point all accumulated fair value gains/losses are transferred into the income statement.

Table 30: Australian Government general government sector cash flow statement

1. The month of June is derived by deducting May year-to-date published data from the annual outcome. Statistically, June movements in some series relate to earlier published months that are not reissued, this can result in negative movements.