Definitions

This part of the Good Practice Toolkit provides general and financial definitions. The financial definitions provided are to be used by all signatory organisations in the preparation of their Financial reports. 

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General Definitions

There is no absolute consensus on the definitions of many general terms used in the aid and development sector, although there is reasonable agreement. The following definitions are provided for the clarification of the use of key terms with reference to the Code of Conduct.

Accessible: Easy to approach, reach, speak with or use. Presented in a form, format, language or media that is readily useable.

Accountability: The processes through which an organisation makes a commitment to respond to and balance the needs of stakeholders in its decision-making processes and activities, and delivers against the commitment (Pathways to Accountability, the GAP Framework One World Trust, 2005).

ACNC: Australian Charities and Not-for-profit Commission.
Actors: An organisation, government department or individual with a role or influence (Safety with Dignity, Action Aid, 2009)

Advocacy: Activities undertaken to change the systemic and structural causes of poverty and disadvantage which may include popular campaigning, lobbying, research, policy positions, alliances and use of the media. It may occur both in Australia and globally (Australian Tax Office).

Affiliate: An organisation to which the signatory organisation has some form of membership, formal association or alliance.

Capability: A feature, ability, or competence that can be developed or improved. (‘Differentiating Competence, Capability and Capacity’, Innovating Perspectives, Vol. 16. No. 3, 2008).

Capacity: ‘The ability of individuals, organisations, and whole societies to define and solve problems, make informed choices, order their priorities and plan their futures, as well as implement programs and projects to sustain them’ (‘Nurturing Capacity in Developing Countries: From Consensus to Practice’, Capacity Enhancement Briefs, No 1. World Bank Institute).

Child Safeguarding: Actions, policies and procedures that create and maintain protective environments for children to protect them from exploitation and abuse of all kinds (adapted from DFAT Child Protection Policy).

Civil society organisation (CSO): Includes non-government organisations (NGOs), not-for-profit organisations (NPOs), charities and community-based organisations (CBOs). Can also include religious organisations, trade unions, foundations and any institutions outside of the corporate and government sectors (Pathways to Accountability: The GAP Framework, One World Trust, 2005).

Collaborate: A process in which two parties contribute core competencies and share the risks and decision-making to achieve mutual objectives. Typically considered less formal than a partnership (see Partnership).

Communities: Locally organised or informal groups or networks (Safety with Dignity, Action Aid, 2009).

Complaint: An expression of dissatisfaction (International Standards Organisation standard on complaints handling).

Counter-terrorism: The practice, techniques, and strategy used to combat or prevent terrorism.

Development: Improving the conditions of communities in a sustainable way. It is based on working with communities, rather than for or on behalf of communities (see Sustainable Change).

Development and humanitarian initiatives: Activities undertaken in order to reduce poverty and address global justice issues. In the non-government organisation sector, this may occur through a range of engagements that includes community projects, humanitarian response and emergency management, community education, advocacy, volunteer sending, provision of technical and professional services and resources, environmental protection and restoration, and promotion and protection of human rights.

Dignity: The feeling of having decision-making power, freedom and autonomy over life choices, together with the feeling of self-worth and self-confidence, and feeling that one has the respect of others (Safety with dignity, ActionAid 2009, based on Protection: an ALNAP Guide for Humanitarian Agencies, Slim and Bronwick 2005).

Disability: People with disabilities include those who have long-term physical, mental, intellectual or sensory impairments which in interaction with various barriers may hinder their full and effective participation in society on an equal basis with others (United National Convention on the Rights of People with a Disability).

Diversity: Understanding that each individual is unique, and recognising our individual differences. These can be along dimensions of race, ethnicity, gender, sexual orientation, socio-economic status, age, physical abilities, religious beliefs, political beliefs, or other ideologies.

Due diligence: Research and analysis of an organisation done in preparation for a business transaction, prior to signing a contract.

Efficiency: Implementation performance against time and budget parameters, value for money, and the quality and professionalism of deliverables (DFAT).

Effectiveness: Promoting sustainable change that addresses the causes as well as the symptoms of poverty and marginalisation. (ACFID, NGO Effectiveness Framework, 2004).

Emergency: A threatening condition that requires urgent action (United Nations International Strategy for Disaster Reduction, UN ISDR 2004).

Emergency management: Plans, structures and arrangements established to engage the normal endeavours of government, voluntary and private agencies in a comprehensive and coordinated way to respond to the whole spectrum of emergency needs (United Nations International Strategy for Disaster Reduction, UN ISDR, 2004). This includes preparedness, mitigation, response, rehabilitation, reconstruction, development and prevention activities.

Ethical: Being in accordance with the rules or standards for right conduct or practice, especially the standards of a profession.

Fraud: Dishonestly obtaining a benefit, or causing a loss, by deception or other means (Fraud Control Framework, Commonwealth Attorney General’s Department).

Fundraising: The process of gathering voluntary contributions of money or other resources, by requesting donations from individuals, businesses, charitable foundations, or governmental agencies.

Gender: Socially constructed roles and relationships between men and women which affect their ability and incentive to participate in development activities and lead to different project impacts for women and men (Guide to Gender and Development, AusAID, 2007).

Gender analysis: The process of considering the impact that an initiative may have on women and men, boys and girls, and the economic and social relationships between them (Guide to Gender and Development, AusAID, 2007).

Gender equality: Equal opportunities and outcomes for women and men, girls and boys (Guide to Gender and Development, AusAID, 2007).

Gender equity: Fairness in access to resources and in the distribution of benefits from development, according to the different needs of women, men, girls and boys (Australian Government, 2007).

Good practice: A technique, methodology or approach that, through experience and research, has proven to work well reliably, produce desirable results and can be recommended.

Governance: The way in which an organisation is run, including who makes decisions and how they are made (ACNC).

Governing body: The body which makes decisions about how an organisation is run and is responsible for its governance as defined by the governing document (ACNC).

Governing document: The formal document/s that includes the organisation’s purpose, activities and processes. Examples include constitution, trust deeds, articles of association, rules (ACNC).

Guidelines: Information which outlines an organisation’s expectations for a given process; a guide for a course of action or activities that can include rules, checklists, plans, procedures.

Human rights: Legal statements by the international community that assert the equality and dignity of all human beings. Includes civil and political rights and economic, social and cultural rights. The core international human rights treaties and their optional protocols are located on the ACFID website.

Humanitarian response: Action taken with the objective of saving lives, alleviating suffering and maintaining human dignity during and after human-induced crises and natural disasters, as well as action to prevent and prepare for them (Core Humanitarian Standard).

Legislation: Laws made by parliament, also called Acts of Parliament or statute laws (ACNC). Local actors: In-country NGOs, CSOs, Disabled Persons Organisations and other entities involved in the implementation of development and humanitarian initiatives.

Local people: The women and men, boys and girls who are participants in, and directly affected by, development and humanitarian initiatives in the geographical area in which the initiative is undertaken. May also be known as beneficiaries or primary stakeholders.

Marginalised: A person or group who is isolated, pushed to the edge, treated or considered unimportant, insignificant and powerless.

Members: Current formal Members of ACFID and signatories to the Code of Conduct

Monitoring and evaluation: Monitoring and evaluation are systems or processes used to manage and assess the progress and results of their work. They are conducted in order to provide accountability to affected stakeholders and donors, to improve performance, to enable learning and adaptation, and to communicate information about results and impact.

Monitoring: The continuous or ongoing assessment of work over time.

Evaluation: The periodic assessment at a specific point in time (Sharpening the Development Process: A Practical Guide to Monitoring and Evaluation, INTRAC Praxis Guide No. 1).

Non-development activity: Includes activity undertaken to promote a particular religious adherence or to support a particular party, candidate or organisation affiliated to a political party.

Non-government organisations: Voluntary, not-for-profit, organisations formally registered with government that are run by a governing board that is accountable to its members.

Not-for-profit (NFP): An organisation that has rules that do not allow it to distribute profits or assets to its members, the people who run it or their friends or relatives with which it is operating or winding up. An organisation that is not-for-profit does not carry out activities for the benefit of its members (ACNC).

Other resources: Includes (but is not limited to) funds raised, gifts in kind, property, assets, staff and volunteers of signatory and partner organisations.

Participatory: Affording the opportunity for individual and/or collective participation.

Participatory development: Process through which stakeholders can influence and share control over development initiatives, and over the decisions and resources that affect those stakeholders.

Partner: Individuals, groups of people or organisations that collaborate with ACFID Members to achieve mutually agreed objectives in development and humanitarian initiatives. This may include affiliates.

Partnership: An ongoing working relationship where risks and benefits are shared (Partnership Brokers Association).

Policy: High level principles, rules, and guidelines formulated or adopted by an organisation to guide conduct and reach its long-term goals.

Primary stakeholders: The term used in the Code of Conduct to refer to those whom we seek to support, work with and directly benefit through development and humanitarian initiatives. The women and men, boys and girls who are participants in, and are directly affected by, development and humanitarian initiatives. They may also be known as beneficiaries or local people.

Privacy: Personal information or an opinion about an identified individual, or an individual who is reasonably easily identifiable (Office of the Australian Information Commissioner).

Privacy legislation: The Australian Commonwealth Government Privacy Act 1988 (Privacy Act) which regulates the handling of personal information about individuals (Office of the Australian Information Commissioner).

Promoting a particular religious adherence: Activities undertaken with the intention of converting individuals or groups from one faith and/or denominational affiliation to another.

Protocols: A system of rules that explains the correct conduct and procedures to be followed in formal situations.

Psycho-social support: Any type of local or outside support that aims to promote psychological and social wellbeing and/or to prevent or treat mental disorder.

Resources: Stock or supply of money, materials, staff, and other assets that can be drawn on by a person or organisation in order to function effectively.

Rights: See Human rights.

Sector: An area of the economy in which businesses share the same or a related product or service. In the context of the Code, this refers to organisations and entities engaged in international development and humanitarian initiatives.

Signatory: An organisation which the Code of Conduct Committee has accepted as a signatory to the ACFID Code of Conduct and which has not resigned or been removed and has paid all its fees.

Staff: People employed by an organisation.

Stakeholders: Individuals and groups that can affect or are affected by an organisation’s policies and/or actions (Pathways to Accountability, the GAP Framework One World Trust, 2005).

Strategic: Relating to the identification of long-term or overall aims and interests and the means of achieving them.

Supporting a particular party, candidate or organisation affiliated to a political party: Agency personnel or their representatives (when using the agency name or resources in paid time) being involved in party political activities; using funds or resources to facilitate or support a specific political party, candidate, or party political organisation in a local, regional or general/national election; using funds or resources to facilitate or support a particular politician or faction to gain power within a government or within a party-political structure.

Sustainable change: Change that is lasting and durable.

Sustainable development: Meeting the needs of the present without compromising the ability of future generations to meet their own needs (World Commission on Environment and Development, 1987).

Third parties: May be a contractor, partner or an affiliate of the non-government organisation.

Transparency: An organisation’s openness about its activities, providing information on what it is doing, where and how this takes place and how it is performing (Pathways to Accountability, the GAP Framework, One World Trust, 2005).

Volunteer: A person who willingly gives their time for the common good and without financial gain. Volunteering includes formal volunteering that takes place within organisations (including institutions and agencies) in a structured way, and informal volunteering, acts that take place outside the context of a formal organisation (Volunteering Australia).

Whistleblower: A member of staff, volunteer, contractor or partner who reports suspected wrong-doing, including suspicion of fraud, misuse of resources, neglect of duties or a risk to health and safety. 

Financial Definitions

The financial definitions in this section are to be used by all members in the preparation of their ACFID Code-compliant Financial reports. Treatment must be in accordance with the relevant accounting standard. If you are in doubt, please consult your accountant or auditor for clarification of the appropriate accounting treatment for your organisation. 

 

Income Statement Definitions

The following definitions are to be used by all members in the preparation of their Income Statements in conjunction with the Australian Accounting Standards. For those which are not specified here refer to the definitions found in the National Standard Chart of Accounts (NSCOA).

Income statements – Revenue

Donations and Gifts - Donations and gifts are income received without providing consideration in return, and include all donations and gifts actually received.

Where donations and gifts form the major category of income, members are advised to provide further detail of the composition of these. For example: restricted or unrestricted as to purpose, relating to international or domestic programs, or by major fundraising activity.

Donations and Gifts – Monetary - Donations and gifts received in cash.

Donations and Gifts – Non-monetary - Goods and services received as gifts in kind

Non-monetary donations should be recognized in the accounts when they are reliably measurable, taking into account materiality considerations. Any figure recorded under this heading should match a corresponding expenditure heading named ‘Non-monetary expenditure’.

  • Donated assets (excluding buildings) are recognised as income when the asset is received. The amount recorded should be equivalent to the fair value of the donated asset. The fair value is ‘the amount for which an asset could be exchanged between knowledgeable, willing parties in an arm’s length transaction’ (AASB 116). Both usability and marketability are joint considerations in determining fair value.
  • Donated buildings are not recorded as income and should be recorded directly as an asset in the Balance Sheet (refer definition for Property, Plant and Equipment).
  • If an organisation recognises volunteer services in their Financial Statements, it will depend on their unique circumstances, taking into account their ability to reliably measure the value of volunteer services and materiality considerations.  If agencies choose to disclose the value of volunteer services in their Financial Statements, then they can choose whether to include this value as both Non-Monetary Revenue and Expense items in the Income Statement OR as a disclosure in the Notes to their Accounts.  This decision will be based on whether the item meets accounting standards criteria for recognition.  The Department of Foreign Affairs and Trade (DFAT) publishes job descriptions and relative rates of pay to use as a guide in valuing volunteer services.  These are provided specifically for accredited organisations operating under the Recognised Development Expenditure (RDE) guidelines.  However they may also assist other organisations as a reference. Refer to RDE Worksheet Explanatory Notes.

Bequests and Legacies - Gifts or donations received through wills and memorials.

Grants - Funding received from governments and other institutions to support the objectives of the organisation.  Most grants require the funds to be spent in a specified manner.

Grants – Department of Foreign Affairs and Trade (DFAT) - Grants sourced directly from DFAT (the agency formerly known as AusAID).

Grants - Other Australian - Grants sourced from all other Australian institutions, including other Australian Commonwealth Government departments or agencies other than DFAT, State and Territory Government departments, and other Australian organisations such as philanthropic organisations and corporate entities.

Grants - Other overseas - Grants sourced from non-Australian institutions, including international affiliates, multilateral institutions and other non-Australian organisations.

Commercial Activities Income - Income from activities where there is an exchange of value with an intention to generate a surplus to contribute to the organisation’s aims.  This includes gross income from any retail activities and raffles.

Investment Income - Income from interest, dividends, rent and other income earned on investment assets.

Revenue for International Political or Religious Adherence Promotion Programs -  Income received for the purpose of supporting a political party, promoting a political candidate or organisation affiliated to a political party, or to promote a particular religious adherence.  Refer to the definitions of non-development activity and the relevant section of the Good Practice Toolkit guidance for more detail in this area. If organisations have material amounts of funds in any of these areas, they should itemise them on separate lines to enhance understanding.

Other income – Inflows of economic benefits not included in the other categories.  If any single category income category constitutes more than 10% of total revenue, organisations are encouraged to disclose this separately in the Income Statement.  This may apply for example, to organisations with large Domestic Programs. 

Income Statement – Expenses

International Aid and Development Programs Expenditure - Expenditure incurred to perform international aid and development activities,  i.e. activities undertaken to reduce poverty and address global justice issues via direct engagement through community projects, humanitarian relief and/or community education and public policy campaigns.

International Programs - Funds to international programs - These costs may include (but are not limited to):

  • Salaries of program staff or costs of volunteers working overseas, that are paid from Australia,
  • The cost of acquiring property, plant and equipment in Australia which is then sent overseas, for example the cost of a computer and transportation costs in getting this computer equipment overseas,
  • Costs of programs implemented by international partners,
  • Administration costs of overseas field offices or program partners, and
  • Program expenditure (not management fees) funded via international secretariats.

Funds to international programs must be limited to funds and gifts in kind actually remitted overseas to aid and development projects, plus the cost of remitting those gifts.

Organisations are encouraged to show details of their international programs either by program or by country. These details may be disclosed either in the Income Statement or in notes in the form of a supplementary report or set of graphics.

International Programs - Program support costs - Direct costs of program management spent in Australia, including project design, monitoring and evaluation and project management. It includes the training and professional development of Australian based staff and volunteers involved in the effective management of international projects. It may also include the salaries of program support staff paid in Australia.

International Programs - Community Education - Costs related to informing and educating the Australian community of, and inviting their active involvement in, global justice, development and humanitarian issues. This includes the cost of producing and distributing materials, the cost of conducting educational and public policy campaigns, and the cost of personnel involved in these activities.

Educational materials and campaigns often include the opportunity for the community to provide financial or other support to the organisation.

If educational and campaign activities include an element of fundraising, the following requirements must be followed:

An amount proportionate to the fundraising elements involved must be charged to Fundraising Costs. For example, a one page fundraising request in a 20-page campaign newsletter will charge 5% of the total newsletter costs to Fundraising Costs.

The method for allocating the proportion of fundraising cost must be documented and be able to be produced to support the decision and is suggested to be included by way of a note to the accounts.

These requirements ensure that all costs associated with fundraising activities are disclosed at the highest level of transparency. 

International Programs Fundraising costs – Public - Costs incurred for the purpose of raising revenue from the public.  These can include (but are not limited to):

  • the production and mailing (physically or electronically) of fundraising materials,
  • the cost of promotional or marketing campaigns,
  • the costs of establishing and maintaining public donor databases,
  • funds paid to third parties to provide fundraising services,
  • donation related bank fees; and
  • the cost of personnel involved in preparing, conducting and evaluating marketing and fundraising campaigns.

International Programs fundraising costs - Government, multilateral and private sector - Costs of personnel and related expenses involved in the preparation of funding submissions for, and reporting against, grants and other contracts from government, multilateral organisations, corporate and philanthropic organisations.

International Programs - Accountability and Administration costs - Costs (not able to be allocated to a program activity) associated with the overall operational capability of the organisation. These costs include (but are not limited to):

  • audit and accounting fees
  • legal fees
  • memberships and subscriptions
  • management costs of international secretariat functions
  • office accommodation expenses (rent, maintenance, depreciation, utilities, etc.)
  • bank charges (not donation related)
  • general staff training.

Non-Monetary Expenditure - Expenditure to offset the value of gifts of goods and services received in kind, as well as any volunteer services (refer to Non-Monetary Income definition for details relating to volunteer services) that are recognised in the financial statements.

International Political or Religious Adherence Promotion Programs Expenditure - Expenditure made for the purpose of supporting a political party, promoting a political candidate or organisation affiliated to a political party, or to promote a particular religious adherence.

Refer to the definitions of non-development activity and the relevant section of the Good Practice Toolkit guidance for more detail in this area.

If members have material amounts of expenditure in any of these areas, they should itemise them on separate lines to enhance understanding.

Domestic Programs Expenditure (including monetary and non-monetary) - Expenditure on programs that are directed towards beneficiaries within Australia.  If this is a material category for members, they are encouraged to add extra detail to report on under this heading and to use headings that are simple and clearly explain their operations.

Commercial Activities Expenditure - Expenditure incurred on activities where there is an exchange of value with an intention to generate a surplus to contribute to the organisation’s aims.  This includes expenditure on retail activities and raffles.

Other Expenditure - Outflows of economic benefits not included in other expenditure categories.

Other Comprehensive Income - Items of income and expense (including reclassification adjustments) that are not recognised in the body of the Income Statement.  Includes items such as:

  • fair value changes in available for sale financial assets, and
  • changes in valuation of fixed assets.

Balance Sheet Definitions

The definitions listed below are to be used by members in the preparation of their Balance Sheets in conjunction with the Australian Accounting Standards. If members decide to disclose other categories in the Balance Sheet, they should ensure that the definitions of these are similarly based on accounting standards. 

Balance Sheet – Assets

Assets - Assets are resources controlled by the member as a result of past events and from which future economic benefits are expected to flow to the entity.

Current Assets - Assets that are expected to be realised within twelve months from the reporting date or within one operating cycle, whichever is the shorter. Current assets include:

Cash and cash equivalents - Cash includes cash at bank and cash on hand e.g. petty cash, cash floats and undeposited funds. Cash equivalents are highly liquid investments which are readily convertible to known amounts of cash and which are subject to an insignificant risk of change in value.

Trade and other receivables - Amount of receivables still owing by customers (debtors) to the organisation at the end of the operating cycle which are expected to be collected in the next twelve months.

Inventories - Items held for sale or expected to be consumed in the process of delivery of services in the next twelve months. Includes fundraising stock, trading stock, publications for sale and emergency response stocks.  Inventories may be purchased or received by way of donation.

Other financial assets - Investments, deposits and bonds, which are expected to be redeemed in the next twelve months.

Non-current assets - Assets that are not expected to be realised within twelve months from the reporting date or within one operating cycle, whichever is the shorter.

Non-current assets include:

Trade and other receivables - Amount of receivables still owing by customers (debtors) to the organisation at the end of the operating cycle which are not expected to be collected in the next twelve months.

Other financial assets - Long-term investments, deposits and bonds which are not expected to be redeemed in the next twelve months.

Property, plant and equipment - Tangible items that are held for use in the production or supply of goods or services, for rental to others, or for administrative purposes and are expected to have a life beyond the next twelve months. Includes freehold and leasehold land (the land is shown at either cost or at its re-valued amount), buildings and building improvements.  These are also known as fixed assets. Donated fixed assets, are recorded at the time of acquisition at fair value.

Investment property - Land and/or buildings held for purposes of economic benefit via rental returns and capital appreciation, instead of for direct use in the organisation’s operations.

Intangibles - Intangible assets purchased, e.g. goodwill, distribution rights, intellectual property, licenses, patents, trademarks, as well as those internally generated, eg computer software development.

Other non-current assets - Non-current assets not specifically included in other categories.

Balance Sheet – Liabilities

Liabilities - A liability is a present obligation of the member arising from past events, the settlement of which is expected to result in an outflow of resources.

Current liabilities - Liabilities that are due to be settled within twelve months from the reporting date, or within one operating cycle, whichever is the shorter. Current liabilities include:

Trade and other payables - The total owing to creditors (not including bank loans) at the end of the operating cycle and payable within the next twelve months.

Borrowings - Balance of loans owed by the organisation to banks and other lenders that are payable within the next twelve months.

Current tax liabilities - Amount of taxes payable to taxation authorities for local taxes including Goods and Services Tax, Pay As You Go tax, Income Tax, Fringe Benefits Tax and Australian Business Number withholding tax.

Other financial liabilities - Other amounts payable to external parties due and payable within the next twelve months, such as lease liabilities.

Provisions - Liabilities of uncertain timing or amount. Can include provisions for employee entitlements like annual leave and provisions for maintenance.

Other - Current liabilities not specifically included in other categories.

Non-current liabilities - Liabilities not expected to be settled within 12 months or one operating cycle, and therefore not classified as current.   Non-current liabilities include:

Borrowings - Loan amounts owed by the organisation to banks and other lenders that are not payable within the next twelve months.

Other financial liabilities - Other amounts payable to external parties that are not payable within the next twelve months, such as long term leases.

Provisions - Liabilities of uncertain timing or amount that are not payable within the next twelve months. Can include provisions for employee entitlements like long-service leave.

Other - Non-current liabilities that are not specifically included in other categories.

Balance Sheet – Equity

Equity - The residual interest in the assets of the member after deducting all of its liabilities.

Reserves - Any reserve established by the organisation (such as the capital profits reserve, building maintenance reserve, IT reserve etc.). Reserves can include amounts of money specifically set aside by the governing body for future purposes, as well as those prescribed by accounting standards (for example an Asset Revaluation Reserve).  An asset revaluation reserve is generated when an organisation decides to revalue certain non-current assets, such as land and buildings. Reserves are split into Restricted and Unrestricted categories.

Restricted Reserves - Reserves allocated for a specific purpose within the organisation’s objectives.  The specific purpose is usually defined by the donor or by law, ie it is an external restriction.  This may include funds held for future distribution from a bequest or other type of specific donation.

Unrestricted Reserves - Reserves that can be spent at the discretion of the organisation within its charitable objectives, but are not otherwise restricted as to their use.

Retained Earnings - The accumulated surpluses or deficits of the organisation over the years it has been operating.

 

 

Balance Sheet – Liabilities

Liabilities - A liability is a present obligation of the member arising from past events, the settlement of which is expected to result in an outflow of resources.

Current liabilities - Liabilities that are due to be settled within twelve months from the reporting date, or within one operating cycle, whichever is the shorter. Current liabilities include:

Trade and other payables - The total owing to creditors (not including bank loans) at the end of the operating cycle and payable within the next twelve months.

Borrowings - Balance of loans owed by the organisation to banks and other lenders that are payable within the next twelve months.

Current tax liabilities - Amount of taxes payable to taxation authorities for local taxes including Goods and Services Tax, Pay As You Go tax, Income Tax, Fringe Benefits Tax and Australian Business Number withholding tax.

Other financial liabilities - Other amounts payable to external parties due and payable within the next twelve months, such as lease liabilities.

Provisions - Liabilities of uncertain timing or amount. Can include provisions for employee entitlements like annual leave and provisions for maintenance.

Other - Current liabilities not specifically included in other categories.

Non-current liabilities - Liabilities not expected to be settled within 12 months or one operating cycle, and therefore not classified as current.   Non-current liabilities include:

Borrowings - Loan amounts owed by the organisation to banks and other lenders that are not payable within the next twelve months.

Other financial liabilities - Other amounts payable to external parties that are not payable within the next twelve months, such as long term leases.

Provisions - Liabilities of uncertain timing or amount that are not payable within the next twelve months. Can include provisions for employee entitlements like long-service leave.

Other - Non-current liabilities that are not specifically included in other categories.

Financial Reporting Formats

Option 1 format: International Aid and Development Short Form Income Statement template

Option 1 format: International Aid and Development Short Form Income Statement template

 

Option 2 format: Income Statement template 

 

 

Option 2 format: Income Statement template