Australian Capital Territory Numbered Acts Australian Capital Territory Numbered Acts27. (1) A department shall, as soon as practicable after the end of each financial year, prepare annual financial statements relating to its operations during the year.
(2) The annual financial statements of a department shall be prepared in accordance with generally accepted accounting practice and in a form that facilitates a comparison between the financial operations of the department during the year and the estimates of those operations contained in the budget for the department for the financial year that was laid before the Legislative Assembly pursuant to paragraph 10 (b).
(3) The annual financial statements of a department shall include—
(a) an operating statement for the department for the year;
(b) a statement of the assets and liabilities of the department at the end of the year;
(c) a statement of the cash flows of the department for the year;
(d) a statement of the performance of the department in providing each class of outputs provided by it during the year, being a statement that—
(i) compares that performance with the forecast of the performance contained in the budget for the department for the year that was laid before the Legislative Assembly pursuant to paragraph 10 (b); and
(ii) gives particulars of the extent to which the performance criteria specified in that budget in relation to the provision of those outputs were satisfied;
(e) a statement of the accounting policies adopted by the department; and
(f) such other statements as are necessary to fairly reflect the financial operations of the department during the year and its financial position at the end of the year.