sec.763Reporting unit to prepare general purpose financial report

### sec.763 Reporting unit to prepare general purpose financial report A reporting unit’s organisation must ensure that, as soon as practicable after the end of each financial year, the reporting unit prepares a general purpose financial report, in accordance with the Australian Accounting Standards and this section, from its financial records for the financial year. Maximum penalty—100 penalty units. The general purpose financial report must consist of— financial statements containing— a profit and loss statement, or other operating statement; and a balance sheet; and a statement of cash flows; and any other statements required by the Australian Accounting Standards; and notes to the financial statements containing— notes required by the Australian Accounting Standards; and any information required by the reporting guidelines under section 765 (2) (c) ; and any other reports or statements required by the reporting guidelines under section 765 (2) (d) . The financial statements and notes for a financial year must give a true and fair view of the reporting unit’s financial position and performance. Subsection (3) does not affect the obligation for a financial report to comply with the Australian Accounting Standards. If the financial statements and notes prepared in compliance with the Australian Accounting Standards would not give a true and fair view, additional information must be included in the notes to the financial statements under subsection (2) (b) . (sec.763-ssec.1) A reporting unit’s organisation must ensure that, as soon as practicable after the end of each financial year, the reporting unit prepares a general purpose financial report, in accordance with the Australian Accounting Standards and this section, from its financial records for the financial year. Maximum penalty—100 penalty units. (sec.763-ssec.2) The general purpose financial report must consist of— financial statements containing— a profit and loss statement, or other operating statement; and a balance sheet; and a statement of cash flows; and any other statements required by the Australian Accounting Standards; and notes to the financial statements containing— notes required by the Australian Accounting Standards; and any information required by the reporting guidelines under section 765 (2) (c) ; and any other reports or statements required by the reporting guidelines under section 765 (2) (d) . (sec.763-ssec.3) The financial statements and notes for a financial year must give a true and fair view of the reporting unit’s financial position and performance. (sec.763-ssec.4) Subsection (3) does not affect the obligation for a financial report to comply with the Australian Accounting Standards. - (a) financial statements containing— (i) a profit and loss statement, or other operating statement; and (ii) a balance sheet; and (iii) a statement of cash flows; and (iv) any other statements required by the Australian Accounting Standards; and - (i) a profit and loss statement, or other operating statement; and - (ii) a balance sheet; and - (iii) a statement of cash flows; and - (iv) any other statements required by the Australian Accounting Standards; and - (b) notes to the financial statements containing— (i) notes required by the Australian Accounting Standards; and (ii) any information required by the reporting guidelines under section 765 (2) (c) ; and - (i) notes required by the Australian Accounting Standards; and - (ii) any information required by the reporting guidelines under section 765 (2) (c) ; and - (c) any other reports or statements required by the reporting guidelines under section 765 (2) (d) . - (i) a profit and loss statement, or other operating statement; and - (ii) a balance sheet; and - (iii) a statement of cash flows; and - (iv) any other statements required by the Australian Accounting Standards; and - (i) notes required by the Australian Accounting Standards; and - (ii) any information required by the reporting guidelines under section 765 (2) (c) ; and