5Definitions

5 Definitions

Guide to this section

The purpose of this section is to provide a list of every term that is defined in this rule. A term will either be defined in this section, or in another provision of this rule. If another provision defines the term, this section will have a reference to that definition.

Some terms that are used in this rule are defined in the PGPA Act. Those terms have the same meaning as in the PGPA Act. Those terms are not included in this section but can be found in section 8 of the PGPA Act.

Key accounting definitions have the same definition as specified in the ‘AASB glossary of Defined Terms’ issued by the Australian Accounting Standards Board (AASB).

In this rule:

AAS (short for Australian Accounting Standards) means the accounting standards.

AASB means the Australian Accounting Standards Board.

Administered means those items that an entity does not control but over which it has management responsibility on behalf of the Government and which are subject to prescriptive rules or conditions established by legislation, or Australian Government policy, in order to achieve Australian Government outcomes. Typical examples include taxes, levies and fines plus grants, subsidies and personal benefit payments.

Departmental means those items that the entity has control over. They include the ordinary operating costs and associated funding of Commonwealth entities, and typically include salaries, accruing employee entitlements and operational expenses including depreciation.

Key management personnel has the same meaning as in AASB 124 Related Party Disclosures.

PGPA Act means the Public Governance, Performance and Accountability Act 2013.

Recoverable GST exclusive basis means that the following are excluded from any relevant amounts:

(a) GST on payments that is recoverable from the ATO;
(b) GST received on taxable supplies that is payable to the ATO; and
(c) payments to/refunds from the ATO of GST amounts.

Reporting entity an applicable entity mentioned in subsection 6(1) for which financial statements must be prepared.