The Financial Reporting Code for NSW General Government Sector Entities (the Code) sets out the financial reporting framework for all New South Wales General Government Sector (NSW GGS) entities. The Code provides a model financial reporting framework which promotes consistency across the NSW GGS. The Consolidated Financial Statements of New South Wales report on the General Government Sector (GGS) entities and the Total State Sector.

Similarly, the NSW Budget Papers focus on the GGS. It is not mandatory in its entirety and NSW GGS entities can tailor the model to their individual circumstances. However, financial reports must be prepared in accordance with Australian Accounting Standards (AAS) and Treasury requirements, including annual Treasury Policy and Guidelines on Mandates of options and major policy decisions under AAS.