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QBCC MFR Dates

1Q - It appears on many occasions that, there is flexibility to choose the interim reporting period date range, based on words such as “As long as the report is no older than 4 months”. Does that mean any date range can be used? 

Which actually allows a licensee / company to choose a date that has the best NTA?

A - For interim financial information, the end date can be anything (as long as it is within 4 months of the accountant signing off the form). 

A - The only requirement would be that the period covered by the financial information is:

  1. For the financial year to date, being 1 July to any date:
  2. EG: 1 July to 31 December (fine)
  3. EG: 1 July -to 20 April (fine)
  4. EG: 12 July to 31 March (NOT fine - unless the financial year starts on 12 July which would be highly unlikely). 

A - The term 'period ending' just refers to the period beginning on the first day of the financial year and ending on what balance sheet date is selected.