35AGeneral purpose financial reports for non‑government approved providers of residential care services

35A General purpose financial reports for non‑government approved providers of residential care services

(1) An approved provider mentioned in subsection 35(4) must prepare in accordance with this section one or more reports for a financial year for the approved provider (each of which is a general purpose financial report). Together those reports must deal with all the residential care services provided by the provider in the financial year (whether or not any of those reports also deals with other matters).

Note: Copies of general purpose financial reports for a financial year for an approved provider must be given to the Secretary at the same time as the aged care financial report for the year: see paragraph 35(4)(b). Copies of general purpose financial reports must also be given to certain other persons on request, and must be published on a website: see sections 37A and 37B.

(2) Each general purpose financial report must: (a) be a general purpose financial report within the meaning given by section 6 of the Statement of Accounting Concepts SAC 1; and (b) be in accordance with the Australian accounting standards in force at the time the report is prepared; and (c) give a true and fair view of the financial position and performance of the approved provider for the financial year in relation to one or more residential care services provided by the provider during the financial year (whether or not the report also deals with other matters); and (d) be written as if the approved provider were, so far as it provided those services, a distinct reporting entity within the meaning of the Statement of Accounting Concepts SAC 1. (3) If a general purpose financial report deals with a matter other than a residential care service provided by the provider in the financial year, the report must be prepared as if the residential care provided through the residential care services it relates to were a reportable segment for the purposes of the Australian accounting standards relating to segment reporting in force at the time the report is prepared. (4) Despite subsections (2) and (3), if all the information about a residential care service that is required by the form mentioned in paragraph 35(4)(a) is included in the approved provider’s aged care financial report for the financial year, none of that information need be included in a general purpose financial report of the approved provider for the financial year.