Victorian Consolidated Legislation

Financial Management Act 1994 - SECT 23J

Content of estimated financial statements

23J. Content of estimated financial statements



(1) Estimated financial statements comprise-

   (a)  for the financial year in respect of which they are prepared and the
        following 3 financial years-

   (i)  an estimated statement of financial performance of the Victorian
        general government sector for the year;

   (ii) an estimated statement of financial position of the Victorian general
        government sector at the end of the year;

   (iii) an estimated statement of cash flows of the Victorian general
        government sector for the year;



   (b)  a statement of the accounting policies on which the statements
        required by paragraph (a) are based and explanatory notes.

(2) The information in the estimated financial statements must take into
account Government decisions and other circumstances that may have a material
effect on the estimated financial statements.

(3) Estimated financial statements must be prepared-

   (a)  on a basis consistent with the current financial policy objectives and
        strategies statement; and

   (b)  in the manner and form determined by the Minister, having regard to
        appropriate financial reporting frameworks.