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Overview of Crown Reporting Requirements

Accounting Policies

In order to ensure consistency in the preparation of the Crown Financial Statements, information must be provided that is consistent with Crown accounting policies. The Crown Financial Statements comply with NZ GAAP and Treasury Instructions (issued under section 80 of the Public Finance Act 1989) provide further guidance on central Government accounting policies and practices - refer to: http://www.treasury.govt.nz/publications/guidance/instructions.

Treasury Circulars also provide guidance and information, and are used to request financial information. Treasury Circulars may cover matters that are outside the scope of Treasury Instructions, such as the budget timetable. Since Treasury Instructions are updated annually, Treasury Circulars may also cover matters that are to take effect immediately (but may later be incorporated within Treasury Instructions as part of an annual update). A list of publicly-available Treasury Circulars is provided here: http://www.treasury.govt.nz/publications/guidance/circulars. Some of the Treasury Circulars listed here contain sensitive information so are not available on this website. All Treasury Circulars are accessible to agencies through their finance team which will have access to CFISnet.

We rely heavily on the correct disclosure of inter-entity transactions and balances. Inter-entity transactions and balances should be recognised in accordance with our Eliminations Framework at http://www.treasury.govt.nz/publications/guidance/reporting/accounting.

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