ACCOUNTING – AUSTRALIA

There’s little future in not debating funds use

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Original article by Judith Sloan
The Australian – Page: 4 : 23-Dec-16

The Mid-year Economic and Fiscal Outlook (MYEFO), issued on 20 December 2016, contains information that Future Fund’s net earnings will be included in MYEFO’s projections. Therefore, the projected surplus for 2020-21 of $A1 billion will be achieved by the inclusion of the planned withdrawals from the Future Fund in the national accounts. The matter deserves to be publically discussed.

CORPORATES
AUSTRALIA. FUTURE FUND MANAGEMENT AGENCY

Future Fund accounting switch saves AAA rating

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Original article by David Uren
The Australian – Page: 4 : 23-Dec-16

From 2020-21, profits generated by the Future Fund will be included in Australia’s budgets. Thus, a small surplus in that year will be achieved only because of a change in the fund’s accounting methodology. The Future Fund’s projected earnings of $A3.9 billion for 2019-20 are forecast to ensure a budget surplus of about $A1.1 billion in 2020-21.

CORPORATES
AUSTRALIA. FUTURE FUND MANAGEMENT AGENCY, DELOITTE ACCESS ECONOMICS PTY LTD