Reserve Bank of Australia Annual Report – 1983 Financial Statements Accounting Policies

Notes to and forming part of the Financial Statements – 30 June 1983

Note 1 Accounting policies

The financial statements have been based on the forms prescribed by the Reserve Bank regulations, supplemented by additional information including notes which form part of those statements. These notes state the basis of valuing major assets including, where applicable, the principles adopted in converting to Australian currency assets and liabilities denominated in foreign currencies. Except where otherwise stated, the statements are prepared on the historical cost basis of accounting. Income and expenditure are generally brought to account on an accrual basis.