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 100A Financial Reporting Directions - framework (DOCX 66kb)

FRD 102 Inventories (DOC 454kb)

FRD 102A Inventories (DOCX 66kb) (FRD 102A will be effective from 1 July 2016 and will supersede FRD 102 from 2016-17 onwards).

FRD 103F Non-financial physical assets (DOCX 302kb)

Guidance note for FRD 103F: Guidance on the selection of valuation services under FRD 103F (DOC 167kb)

Guidance note for FRD 103F: Guidance on depreciation of building components under FRD 103F (DOC 171kb)

Valuation guidance - Fair value measurement of non-financial physical assetsexternal site icon

FRD 105B Borrowing costs (DOCX 67kb)

FRD 106A Impairment of assets (DOCX 65kb)

FRD 107B Investment properties (DOCX 141kb)

FRD 108B Classification of entities as for profit (DOCX 66kb)

FRD 109A Intangible assets (DOCX 74kb)

FRD 110A Cash flow statements (DOCX 66kb)

FRD 112D Defined benefit superannuation obligations (DOCX 134kb)

FRD 113A Investments in subsidiaries, joint ventures and associates in the separate financial statements (DOCX 85kb) 

FRD 114B Financial instruments - general government entities and public non-financial corporations (DOCX 72kb) 

FRD 116A Financial instruments - public financial corporations (DOCX 70kb) 

FRD 117A Contributions of existing non-financial assets to third parties (DOCX 94kb)

FRD 118C Land under declared roads (DOCX 60kb)

FRD 119A Transfers through Contributed Capital (DOCX 232kb)

FRD 120J Accounting and reporting pronouncements applicable to the 2015-16 reporting period (DOCX 205kb)

Non-financial policy and disclosures

FRD 03A Accounting for dividends (DOC 461kb)

FRD 07B Early adoption of authoritative accounting pronouncements (DOCX 51kb)

FRD 8D Consistency of budget and departmental reporting (DOCX 62kb)

FRD 09A Departmental disclosure of administered assets and liabilities by activity (DOC 609kb)

FRD 10A Disclosure index (DOCX 60kb)

FRD 11A Disclosure of ex-gratia expenses (DOCX 135kb)  FRD 11A will be effective from 1 July 2013 and will supersede FRD 11 from 2013-14 onwards.

FRD 12B Disclosure of major contracts (DOCX 54kb)

FRD 13 Disclosure of Parliamentary appropriations (DOC 604kb)

FRD 14 Disclosures in annual reports by public sector superannuation schemes (DOC 484kb)

FRD 15C Executive officer disclosures in the report of operation (DOCX 61kb)

FRD 17B Wage Inflation and Discount Rates for Employee Benefits (DOCX 115kb)

FRD 20A Accounting for State motor vehicle lease arrangements prior to 1 February 2004 (DOC 450kb)

FRD 21B Disclosures of responsible persons, executive officers and other personnel in the financial report (DOC 1.51mb)

FRD 22G Standard disclosures in the report of operations (DOCX 147kb)

Guidance note for FRD 22G: Guidance FRD 22G Additional information available on request (DOCX 121kb)

Guidance note for FRD 22G: Guidance note to financial reporting direction FRD 22G (DOCX 120kb)

FRD 24C Reporting of office-based environmental data by government entities (DOC 488kb)

Guidance note for FRD 24C: Guidance on environmental disclosures under FRD 24C (DOC 472kb) 

                                               Guidance on Environmental Management Systems under FRD 24C external site icon

FRD 25C Local Jobs First - Victorian Industry Participation Policy (DOCX 68kb)

FRD 26A Accounting for VicFleet motor vehicle lease arrangements on or after 1 February 2004 (DOC 450kb)

FRD 27C Presentation and Reporting of Performance Information (DOCX 119kb)

FRD 29A Workforce Data Disclosures in the Report of Operations - Public Service Employees (DOCX 82kb)

Guidance note for FRD 29A: Guidance on FRD 29A Workforce data disclosures in the Report of Operations (DOCX 100kb)

FRD 30C Standard Requirements for the Publication of Annual Reports (DOCX 68kb)