where a reporting entity has assets, liabilities, expenses, income, commitments or contingencies in excess of $1 billion, to the nearest $1 million, unless the amount is less than $500,000, in which case the amount should be rounded to zero. Subject to the exceptions listed in sections 13.3 to 13.5, the rounding thresholds in section 13.1 be applied: must separately for departmental and administered reporting; and consistently within departmental and administered reporting regardless of whether rounding is different between departmental and administered disclosures. Exceptions For appropriations (Part ), special accounts () and outcomes () disclosures, the following rules apply: they must not be rounded to the nearest $1 million; and rounding must be consistent between departmental and administered reporting (where the application of section 13.1 results in different levels of rounding to departmental and administered reporting, the lower level of rounding must be applied). Disclosures required by must be rounded to the nearest dollar. Table F disclosures, as required under , must be disclosed to the cent. POLICY Rounding off The level of rounding must be prominently displayed and repeated so that a proper understanding of the information presented can be attained. These rounding provisions apply only to the preparation of financial statements and not to supporting accounting records. Materiality must be considered prior to rounding to ensure rounding does not affect whether or not the item is considered material. Where the following items are disclosed as a nil balance due to
where a reporting entity has assets, liabilities, expenses, income, commitments or contingencies in excess of $1 billion, to the nearest $1 million, unless the amount is less than $500,000, in which case the amount should be rounded to zero. Subject to the exceptions listed in sections 13.3 to 13.5, the rounding thresholds in section 13.1 must be applied: separately for departmental and administered reporting; and consistently within departmental and administered reporting regardless of whether rounding is different between departmental and administered disclosures. Exceptions For appropriations (Part ), special accounts () and outcomes () disclosures, the following rules apply: they must not be rounded to the nearest $1 million; and rounding must be consistent between departmental and administered reporting (where the application of section 13.1 results in different levels of rounding to departmental and administered reporting, the lower level of rounding must be applied). Disclosures required by must be rounded to the nearest dollar. Table F disclosures, as required under , must be disclosed to the cent. POLICY Rounding off The level of rounding must be prominently displayed and repeated so that a proper understanding of the information presented can be attained. These rounding provisions apply only to the preparation of financial statements and not to supporting accounting records. Materiality must be considered prior to rounding to ensure rounding does not affect whether or not the item is considered material. Where the following items are disclosed as a nil balance due to