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The Jewellers Association of Australia (JAA) wishes to update members and the broader industry regarding its 2024 financial performance.

In line with our annual reporting requirements to the Australian Charities and Not-for-profits Commission (ACNC) and our ongoing commitment to transparency, in 2024 the JAA Board implemented an accounting adjustment—now to be applied annually—ensuring that income, such as membership fees received in advance of 1 January, is recognised in the financial year to which it applies. Specifically, membership fees received in advance of 1 January are now recognised in the financial year to which they relate. This ensures our reporting presents a clearer picture of operational performance.

As a result of this adjustment, the 2024 financials will show a loss on paper. It is important to emphasise that this is not a material or operational loss. Rather, the adjustment defers income from late 2024 into the 2025 calendar year, and does not reflect any change in the financial stability of the organisation.

This adjustment follows a previous structural change made in 2022 when the JAA transitioned from financial year (FY) to calendar year (CY) reporting. This change aligned the reporting cycle with the JAA's calendar-based membership and supports more consistent annual comparisons.

The JAA remains in a stable financial position and continues to invest in initiatives that serve and strengthen the Australian jewellery industry.

We thank our members for their continued support and understanding.