Financial reporting directions and guidance

Financial reports are prepared in accordance with Australian Accounting Standards and Interpretations (AASs) as issued by the Australian Accounting Standards Board (AASB).

The following FRDs are applicable to Victorian public sector agencies as at 1 June 2005. Refer to each FRD for its applicable date.

The FRDs comprise two groups:

  • FRDs numbered 100 and above are Directions issued for AASs in relation to financial policy and disclosures.
  • FRDs numbered below 100 are Directions issued mainly for non-financial policy and disclosures.

Financial policy and disclosures

FRD 100 Financial Reporting Directions framework
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FRD 101 Application of Tiers of Australian Accounting Standards
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Guidance on the application of FRD 101 Application of Tiers of Australian Accounting Standards
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FRD 102 Inventories
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FRD 103 Non Financial Assets
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Guidance on the application of FRD 103 Non-financial physical assets
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Guidance on the selection of valuation services under FRD 103
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Guidance on depreciation of building components under FRD 103
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Fair value measurement indicative expectations
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FRD 104 Leases
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FRD 105 Borrowing costs
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FRD 106 Impairment of assets
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FRD 107 Investment properties
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FRD 108 Classification of Entities as For-profit
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FRD 109 Intangible assets
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FRD 110 Cash flow statements
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FRD 112 Defined benefit superannuation obligations
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FRD 113 Investments in subsidiaries joint ventures and associates
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FRD 114 Financial instruments
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FRD 117 Contributions of existing non-financial assets to third parties
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FRD 118 Land under declared roads
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FRD 119 Transfers through contributed capital
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FRD 120 Accounting and reporting pronouncements applicable to the 2023-24 reporting period
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Guidance to FRD 120 Australian Accounting Standards applicable for For-Profit and Not-for-Profit entities
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Non-financial policy and disclosures

FRD 3 Accounting for dividends
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FRD 7 Early adoption of authoritative accounting pronouncements
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FRD 8 Consistency of budget and departmental reporting
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FRD 9 Departmental disclosure of administered assets
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FRD 10 Disclosure index
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FRD 11 Disclosure of ex gratia expenses
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FRD 12 Disclosure of major contracts
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FRD 13 Disclosure of Parliamentary appropriations
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FRD 15 Executive officer disclosures in the Report of Operations
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Victorian Public Sector Standard Model for collecting staff gender information
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FRD 17 Wage inflation and discount rates for employee benefit
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FRD 21 Disclosures of responsible persons and executive officers in the financial report
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FRD 22 Standard disclosures in the Report of Operations
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Guidance FRD 22 Additional information available on request
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Guidance note to financial reporting direction FRD 22
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FRD 24 Reporting of environmental data by government entities
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Guidance on environmental disclosures under FRD 24
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Guidance on the application of reporting tiers under FRD 24
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FRD 25 Local Jobs disclosures in the Report of Operations
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FRD 27 Presentation and reporting of performance information
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FRD 29 Workforce data disclosures in the Report of Operations Public Service Employees
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Guidance on FRD 29C Workforce data disclosures in the Report of Operations
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Victorian Public Sector Standard Model for collecting staff gender information
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FRD 30 Standard requirements for the publication
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Updated