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 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

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 –Large charities: 15 questions acnc.gov.au/reporting australiancharities.acnc.gov.au What information do I report? Annual Information Statement and financial report

SmallMediumLarge Optional reportMust report Type of statement Special purpose financial statement (optional) or Reduced disclosure regime general purpose financial statement (optional) or Full general purpose financial statement (optional) Special purpose financial statement (if not a “reporting entity”) or Reduced disclosure regime general purpose financial statement or Full general purpose financial statement Special purpose financial statement (if not a “reporting entity”) or Reduced disclosure regime general purpose financial statement or Full general purpose financial statement Cash or accrual Can use accrual or cashMust use accrual Review or audit No requirement for review or audit Must submit reviewed or audited financial report Must submit audited financial report What information do I report? Financial reporting by size

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? Financial reporting guidance

What information do I report? Type of financial statement acnc.gov.au/financialstatements

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 What information do I report? Special purpose: 6 minimum accounting standards

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.responsible entities' declaration 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 What information do I report? Financial reporting for charities

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

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 Reporting arrangements to help you transition to reporting to the ACNC Already report to another regulator acnc.gov.au/transitionalreporting

2015 reporting period Comparative information Extension until 31 January 2016 ( charities that use a standard reporting period of 1 July to 30 June ) Reporting arrangements to help you transition to reporting to the ACNC Adjusting to a new style of reporting 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 Record and explain what your charity has done (its activities) For example: annual reports, meeting agendas and minutes, operational plans, reports from events, client records etc. Financial records Record and explain your charity’s financial position and any transactions 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 ►

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