About the AASB 1059 Service Concession Arrangements: Grantor
AASB 1059 Service Concession Arrangements: Grantors (AASB 1059) is relevant for public sector agencies that are grantors in a service concession arrangement.
AASB 1059 defines a service concession as an arrangement that involves an operator:
- providing public services related to a service concession asset on behalf of the grantor
- managing at least some of those public services at its own discretion, rather than at the direction of the grantor.
AASB 1059 sets out how to account for service concession arrangements where the service concession asset is controlled by the grantor, and not by the operator.
You will find information about AASB 1059 to help you successfully implement the new standard. The information and other support material are guides only and reference should be made to the full text of the Standard in considering the application to specific arrangements. They should not be relied on in place of professional advice.
If you would like more information or if you have any questions, contact: accpol@treasury.nsw.gov.au
Helpful AASB 1059 resources
- TC20-07 Accounting Policy – Withdrawal of TPP 06-8 Accounting for Privately Financed Projects (PDF 143.65KB)
- TPP19-06 AASB 1059 Service Concession Arrangements: Grantors - Scoping (PDF 2.04MB)
- TC20-03 Accounting Policy - Transition requirements for AASB 1059 Service Concession Arrangements: Grantors (PDF 53.95KB)
- TC20-04 Accounting Policy - Public sector Operators in a service concession arrangement – mandatory accounting policy and guidance (PDF 184.96KB)
- AASB 1059 Service Concession Arrangements - CFO readiness checklist (PDF 159.92KB)
- AASB 1059 Disclosures in FY19/20 Financial Statements (PDF 280.92KB)
- Application of TPP14-01 to Service Concession Assets (PDF 160.74KB)
- Guidance on disclosures for repeal of TPP06-08 in FY 2021 Financial Statements (PDF 246.88KB)
- Guidance and example of a third statement of financial position on first time adoption of AASB 1059 (PDF 174.73KB)
Cluster Workshop 1 - Intro to AASB 1059 in the FRC
Cluster Workshop 2: introduction to initial returns for AASB 1059 and repeal of TPP 06 08
Cluster Workshop 2: introduction to early close for AASB 1059 and repeal of TPP 06 08
Cluster Workshop 3b preparing for disclosure of AASB 1059 and repeal of TPP 06 08
- How do I know if I have a service concession arrangement? (PDF 487.39KB)
- What do I need to do to prepare for AASB 1059 Service Concession Arrangements? (PDF 241.89KB)(Updated 14 October 2019)
- What do I do if an arrangement (or part of an arrangement) is out of the scope of AASB 1059? (PDF 740.57KB)
- What are the valuation requirements for service concession assets on transition to AASB 1059? (PDF 779.87KB)
- How does AASB 1059 impact my budget control limits and government debt? (PDF 221.96KB)
- How do you identify separate service concession assets within a service concession arrangement? (PDF 168.6KB)
- How do you determine if the public services are provided ‘on behalf of’ the grantor in a potential service concession arrangement? (PDF 192.21KB)
- What do I need to reassess under AASB 1059 at each reporting date? (PDF 258.72KB)
- What is sufficient appropriate audit evidence for AASB 1059? (PDF 184.67KB)
- How do I measure land in a Service Concession Arrangement? (PDF 265.08KB)
- How do I restate existing assets under AASB 1059 when initially recognising and subsequently revaluing a service concession asset? (PDF 189.75KB)
- How to determine if an asset is used to provide public services under AASB 1059? (PDF 189.58KB)
- How to determine if the grantor controls a partly regulated asset? (PDF 132KB)
- How do I calculate the financial liability on transition to AASB 1059? (PDF 317.56KB)
- Service concession assets and asset classes (PDF 209.34KB)
- How do you remeasure WIP assets to CRC using the interest accretion method under AASB 1059? (PDF 194.23KB)
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