AASB 1060 Financial Reporting Framework (working proof of concept)

The following is the AASB 1060 financial reporting framework working proof of concept which is based on Australian Accounting Standards Board (AASB) General Purpose Financial Statements - Simplified Disclosure for For-Profit and Not-for-Profit Tier 2 Entities. This working proof of concept creates about 80% of the full reporting scheme specified by the standards setter.

Here is a reference implementation of a financial report created using the above AASB 1060 financial reporting scheme. From that link you can get to each of the files, verification results, and  other goodies.

What follows is information about two additional working proof of concepts of reports using this financial reporting scheme and some other helpful information.

For accountants who are interested; here are two AASB 1060 (Australia Accounting Standards Board General Purpose Financial Statements – Simplified Disclosures for For-Profit and Not-for-Profit Tier 2 Entities) financial reports that you can fiddle with.  AASB 1060 is similar to IFRS for SMEs.  Here is about, I don't know I will say 20%, of an XBRL taxonomy created for AASB 1060 that is (a) properly created and (b) complete for that 20% that is provided.

I created a bunch of reports, but I will provide TWO that accountants can fiddle with below. Each of these reports contains the IMPORT files you can use to create the reports for yourself using Auditchain Luca, the XBRL that was output, an HTML rendering, a PDF rendering, and a few odds-and-ends: (ZIP archives with report information inside)

  1. Primary Financial Statements with Numbers
  2. Full BSN-ISF Financial Statement with Placeholder Values
Note the verification result that you see below. This means that all nine categories of verification have been run on the report:


If you are not familiar with how to use Auditchain Luca, this video shows you the basics.

Quality matters in financial reporting.  These XBRL-based reports are professional quality knowledge graphs basically.

Additional Information:
  • Reference Implementation (all reporting alternatives combined into one report)
  • BSC-ISN (classified balance sheet, income statement by nature)
  • BSC-ISF (classified balance sheet, income statement by function)
  • BSN-ISF (net assets approach balance sheet, income statement by function)
  • BSN-ISN (net assets approach balance sheet, income statement by nature)
  • BSU-ISF (liquidity balance sheet, income statement by function)
  • BSU-ISN (liquidity balance sheet, income statement by nature)
  • Types: Screenshot | Verification Page

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