Reporting to the ACNC Matt Crichton | Education and Communications Officer 7 June 2016 acnc.gov.au/webinars

Today’s agenda When do I report? How do I report? Preparing to report. What information do I need to report? Getting financial reporting right.

When do I report? acnc.gov.au/reportingduedates

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.

How do I report? Annual Information Statement is an online form. Accessed from the Charity Portal ACNC website, acnc.gov.au, or charity.acnc.gov.au

Charity Portal Accept the terms and conditions, then log in. Use your charity’s username (ABN) and password. Password reset available.

Charity Portal home Annual Information Statement in the top left. Other tools to manage your charity. Alerts for missing information.

Finding the guidance acnc.gov.au/reporting Manage my charity Report annually Wide range of tailored guidance

Prepare to report acnc.gov.au/[year]AIS acnc.gov.au/2015AIS acnc.gov.au/2014AIS

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

Charity size affects reporting obligations acnc.gov.au/charitysize acnc.gov.au/basicreligiouscharity acnc.gov.au/forms

Guidance by charity size acnc.gov.au/smallreporting acnc.gov.au/mediumreporting acnc.gov.au/largereporting

Size is based on annual revenue

All charities submit an Annual Information Statement. Medium and large charities must also submit an annual financial report. 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 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 cash Must use accrual Review or audit No requirement for review or audit Must submit reviewed or audited financial report Must submit audited financial 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 Financial reporting guidance

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

Reporting entity acnc.gov.au/financialstatements Is there a spread of membership? Or is there a level of separation between management and members and other important stakeholders? Does your charity have significant economic or political importance/influence? Is your charity large in size, or have a high level of sales/assets/debt/funding from governments or other parties, or a large number of employees? If you’re unsure, to help you decide… If people use and rely on your charity's financial statements to help them make decisions (for example, about how to spend money) then your charity is most likely a reporting entity. Ultimately, whether your charity is a reporting entity or not will depend on a number of factors and the particular circumstances of your charity

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 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) What information do I report? Financial reporting for charities 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

Get your financial reporting right 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 Already report to another regulator acnc.gov.au/transitionalreporting

More information ►acnc.gov.au/2015AIS ►acnc.gov.au/reporting (related and external resources) ►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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