Sunfish,
Dead right about the 3 sets of books!!!! And I worked for the ATO in the late 1960s and early 1970s!!
Mike
There are typically THREE sets of accounts in any business.
- The Tax accounts.
- The statutory accounts - which is what is required by the ASX.
- and finally the confidential management accounts these are broken up by segment and contain the really crucial confidential warts and all data, like contribution margins, that are essential for the running of the business.