The Corporations Act 2001 and Australian Accounting Standard AASB 1039 require that 'concise financial reports':

Question

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Concise financial reports are required to be prepared according to specific requirements under the Corporations Act 2001 and Australian Accounting Standard AASB 1039. These requirements allow for the exclusion of detailed notes to the financial statements, which are included in full financial reports. However, the concise financial report must still provide sufficient information to allow users to understand the financial position and performance of the entity.