Financial Sector (Collection of Data) (reporting standard) determination No. 83 of 2023
Reporting Standard GRS 310.0.G Statement of profit or loss and other comprehensive income by region
Financial Sector (Collection of Data) Act 2001
I, Michael Murphy, delegate of APRA, under paragraph 13(1)(a) of the Financial Sector (Collection of Data) Act 2001 (the Act) and subsection 33(3) of the Acts Interpretation Act 1901:
(a) revoke Financial Sector (Collection of Data) (reporting standard) determination No. 15 of 2016, including Reporting Standard GRS 310.0_G Income Statement (Level 2 Insurance Group) made under that Determination; and
(b) determine Reporting Standard GRS 310.0.G Statement of profit or loss and other comprehensive income by region, in the form set out in the Schedule, which applies to the financial sector entities to the extent provided in paragraph 3 of that reporting standard.
Under section 15 of the Act, I declare that Reporting Standard GRS 310.0.G Statement of profit or loss and other comprehensive income by region shall begin to apply to those financial sector entities, and the revoked reporting standard shall cease to apply, on the day Reporting Standard GRS 310.0.G Statement of profit or loss and other comprehensive income by region is registered on the Federal Register of Legislation.
This instrument commences upon registration on the Federal Register of Legislation.
Dated: 18 May 2023
Michael Murphy
General Manager - Chief Data Officer (Acting)
Technology and Data Division
Interpretation
In this Determination:
APRA means the Australian Prudential Regulation Authority.
Federal Register of Legislation means the register established under section 15A of the Legislation Act 2003.
financial sector entity has the meaning given by section 5 of the Act.
Schedule
Reporting Standard GRS 310.0.G Statement of profit or loss and other comprehensive income by region comprises the document commencing on the following page.
Reporting Standard GRS 310.0.G
Statement of profit or loss and other comprehensive income by region
Objective of this Reporting Standard
This Reporting Standard sets out the requirements for the provision of information to APRA in relation to a Level 2 insurance group’s profit or loss and other comprehensive income.
It includes associated specific instructions and must be read in conjunction with Reporting Standard GRS 001 Reporting Requirements (GRS 001), including the general instruction guide.
Authority
- This Reporting Standard is made under section 13 of the Financial Sector (Collection of Data) Act 2001.
Purpose
2. The information reported to APRA under this Reporting Standard is used by APRA for the purpose of prudential supervision including assessing compliance with the capital standards.
Application and commencement
3. This Reporting Standard applies to a parent entity of a Level 2 insurance group as defined in Prudential Standard GPS 001 Definitions (GPS 001). This Reporting Standard applies for reporting periods ending on or after 1 July 2023. The parent entity of a Level 2 group is required to ensure that each requirement in this Reporting Standard is complied with.
Information required
4. The parent entity of a Level 2 insurance group must provide APRA with the information required by this Reporting Standard in respect of the Level 2 insurance group for each reporting period.
Method of submission
5. The information required by this Reporting Standard must be given to APRA:
(a) in electronic format using an electronic method available on APRA’s website; or
(b) by a method notified by APRA prior to submission.
Reporting periods and due dates
6. Subject to paragraph 7, the parent entity of a Level 2 insurance group must provide the information required by this Reporting Standard:
(a) in respect of the first half year based on the financial year of the Level 2 insurance group on an unaudited basis; and
(b) in respect of each financial year of the Level 2 insurance group on an audited basis.
Note: The annual information required by paragraphs 4, 5 and 6(b), together with certain annual information required by other reporting standards, will form part of the Level 2 insurance group’s annual accounts within the meaning of GPS 001. Prudential Standard GPS 310 Audit and Related Matters contains the relevant provisions governing audits.
7. If, having regard to the particular circumstances of a Level 2 insurance group, APRA considers it necessary or desirable to obtain information more or less frequently than as provided by subparagraph 6(a) or 6(b), APRA may, by notice in writing to the parent entity, change the reporting periods, or specify reporting periods, for the particular Level 2 insurance group.
8. The information required by this Reporting Standard in respect of a Level 2 insurance group must be provided to APRA:
(a) in the case of half yearly information, within three months after the end of the reporting period to which the information relates;
(b) in the case of annual information, within three months after the end of the reporting period to which the information relates; or
(c) in the case of information provided in accordance with paragraph 7, within the time specified by notice in writing.
Note: GPS 310 requires a Level 2 insurance group to ensure that its Group Auditor conducts a limited assurance review of the group’s annual accounts. Accordingly, the Group Auditor’s report(s) as required by GPS 310 (relating to the information required by paragraph 4) must be provided to APRA by the time specified in GRS 001 (unless an extension of time is granted under GRS 001).
9. APRA may, in writing, grant the parent entity of a Level 2 insurance group an extension of a due date in paragraph 8, in which case the new due date will be the date on the notice of extension.
Note: For the avoidance of doubt, if the due date for a particular reporting period falls on a day other than a usual business day, the parent entity of a Level 2 insurance group is nonetheless required to submit the information required no later than the due date.
10. On the written application of the parent entity of a Level 2 insurance group, APRA may by notice in writing to the parent entity exclude the requirement under subparagraph 6(a) to provide half yearly information.
Quality control
11. The information provided by the parent entity of a Level 2 insurance group under this Reporting Standard must be the product of systems, processes and controls that have been reviewed and tested by the Group Auditor of the Level 2 insurance group. This will require the Group Auditor to review and test the Level 2 insurance group’s systems, processes and controls designed to enable the group to report reliable financial information to APRA. This review and testing must be done on:
(a) an annual basis or more frequently if necessary to enable the Group Auditor to form an opinion on the reliability and accuracy of data; and
(b) at least a limited assurance engagement consistent with professional standards and guidance notes issued by the Auditing and Assurance Standards Board as may be amended from time to time, to the extent that they are not inconsistent with the requirements of Prudential Standard GPS 310 Audit and Related Matters (GPS 310).
12. All information provided by the parent entity of a Level 2 insurance group under this Reporting Standard must be subject to systems, processes and controls developed by the Level 2 insurance group for the internal review and authorisation of that information. It is the responsibility of the Board and senior management of the parent entity of the Level 2 insurance group to ensure that an appropriate set of policies and procedures for the authorisation of data submitted to APRA is in place.
Authorisation
13. When an officer, or agent, of a parent entity of a Level 2 insurance group provides the information required by this Reporting Standard using an electronic format the officer, or agent, must digitally sign the relevant information using a digital certificate acceptable to APRA.
14. If the information required by this Reporting Standard is provided by an agent who submits the information on the parent entity of a Level 2 insurance group’s behalf, the parent entity of a Level 2 insurance group must:
(a) obtain from the agent a copy of the completed information provided to APRA; and
(b) retain the completed copy.
15. An officer, or agent, of a parent entity of a Level 2 insurance group who submits the information under this Reporting Standard for, or on behalf of, the parent entity of a Level 2 insurance group must be authorised by either:
(a) the Principal Executive Officer of the parent entity of the Level 2 insurance group; or
(b) the Chief Financial Officer of the parent entity of the Level 2 insurance group.
Variations
16. APRA may, by written notice to the parent entity of a Level 2 insurance group, vary the reporting requirements of this Reporting Standard in relation to that Level 2 insurance group.
Transition
17. A parent entity of a Level 2 insurance group must report under the old reporting standard in respect of a transitional reporting period. For these purposes:
old reporting standard means the reporting standard revoked in the determination making this Reporting Standard; and
transitional reporting period means a reporting period under the old reporting standard:
(a) which ended before 1 July 2023; and
(b) in relation to which the parent entity of a Level 2 insurance group was required, under the old reporting standard, to report by a date on or after the date of revocation of the old reporting standard.
Note: For the avoidance of doubt, if a parent entity of a Level 2 insurance group was required to report under an old reporting standard, and the reporting documents were due before the date of revocation of the old reporting standard, the parent entity of a Level 2 insurance group is still required to provide any overdue reporting documents in accordance with the old reporting standard.
Interpretation
18. In this Reporting Standard:
(a) unless the contrary intention appears, words and expressions have the meanings given to them in GPS 001; and
(b) the following definitions are applicable:
APRA-authorised reinsurer means an insurer carrying on reinsurance business. For the purposes of this definition, a Lloyd’s underwriter as defined under the Insurance Act is an APRA-authorised reinsurer if it carries on reinsurance business. The Australian Reinsurance Pool Corporation is also an APRA-authorised reinsurer for the purposes of this definition;
capital standards means the prudential standards which relate to capital adequacy as defined in GPS 001;
Chief Financial Officer means the chief financial officer of the parent entity of a Level 2 insurance group, by whatever name called;
financial year means the financial year (within the meaning in the Corporations Act 2001) of the parent entity of a Level 2 insurance group;
foreign insurer means a foreign general insurer within the meaning of the Insurance Act;
Note: A reference to a ‘branch’ or ‘branch operation’ is a reference to the Australian operations of a foreign insurer.
general instruction guide refers to the general instruction guide set out in Attachment A of GRS 001;
Group Auditor has the meaning given in GPS 310;
Insurance Act means the Insurance Act 1973;
insurer means a general insurer within the meaning of section 11 of the Insurance Act;
Note: In this Reporting Standard, a reference to an ‘authorised insurer’, ‘authorised insurance entity’ or ‘licensed insurer’ is a reference to an insurer, and a reference to an ‘authorised reinsurance entity’ is a reference to an insurer whose business consists only of undertaking liability by way of reinsurance.
non-APRA-authorised reinsurer means any reinsurer that is not an APRA-authorised reinsurer;
Principal Executive Officer means the current principal executive officer of the entity, by whatever name called, and whether or not he or she is a member of the governing board of the entity; and
reporting period means a period mentioned in subparagraph 6(a) or 6(b) or, if applicable, paragraph 7.
19. Unless the contrary intention appears, a reference to an Act, Prudential Standard, Reporting Standard, Australian Accounting or Auditing Standard is a reference to the instrument as in force from time to time.
Reporting Standard GRS 310.0.G
Statement of profit or loss and other comprehensive income by region
General instructions
These instructions assist completion of Reporting Standard GRS 310.0.G Statement of profit or loss and other comprehensive income by region, which collects information relating to the Level 2 (Insurance group) profit or loss and other comprehensive income by region.
Reporting tables
Tables described in this reporting standard list each of the data fields required to be reported. The data fields are listed sequentially in the column order that they will appear in the reported data set. Constraints on the data that can be reported for each field have also been provided.
Unless otherwise specifically stated, reporting insurers are to report in accordance with the relevant Australian Accounting Standards.
References to Australian Accounting Standards
Each item reported under this Reporting Standard aligns with the Accounting Standards made by the Australian Accounting Standards Board (AASB). The applicable AASB references are specified with each item. AASB reference provides a written description of the accounting meaning of an IFRS Taxonomy element.
IFRS taxonomy element reference
Each IFRS taxonomy element contains at least one cross-reference to an AASB Standard (that incorporates IFRS 17 Standards as issued and amended by the International Accounting Standards Board) and has a reference type that can be used to identify the source of that element. The IFRS Taxonomy uses the following element reference types:
(a) disclosure—an element of this type depicts a presentation or disclosure requirement of an IFRS/AASB Standard;
(b) example—an element of this type represents an example provided in an IFRS/AASB Standard or its accompanying materials; and
(c) common practice—an element of this type reflects common reporting practice within IFRS/AASB financial statements that are not specifically mentioned in IFRS/AASB Standards or their accompanying materials, but are consistent with IFRS/AASB Standards. They have been found to be frequently disclosed across a range of companies and accounting jurisdictions.
Definitions
Terms that are highlighted in bold italics are defined in these instructions.
Specific instructions
Reporting basis
Information in this Reporting Standard is to be completed by general insurers for each reporting period on a Level 2 insurance group basis.
Please disclose non-distinct investment components in Reporting Standard GRS 320.0.G Liability Roll Forwards at:
- Part A: Liability Roll Forward 1, item 12: Investment components and premium refunds, item 18: Claims and other expenses paid, including investment components; and
- Part B: Liability Roll Forward 1, item 9: Investment components and premium refunds
as applicable (refer to AASB 17.103 (c) and AASB 17.105 (a) (iii)).
Direct business is any insurance business written / insurance contracts issued by the reporting insurer.
Inwards reinsurance is any reinsurance business written / reinsurance contracts issued by the reporting insurer.
Units of measurement
Report values in this Reporting Standard in whole Australian dollars (AUD) with no decimal place.
Convert amounts denominated in foreign currency to AUD in accordance with AASB 121 The Effects of Changes in Foreign Exchange Rates.
Report losses and expenses as negative values.
Region reporting
Inter-region elimination is the value of inter-region transactions, which are eliminated on consolidation, and need to be reported as negative values under Inter-region elimination.
Australian and international business
Australian business is as defined in Prudential Standard GPS 001 Definitions (GPS 001).
International business is as defined in GPS 001.
For entities that are not insurers within the Level 2 insurance group, items should be reported as:
- Australian business where they relate to an entity incorporated in Australia; and
- International business where they relate to an entity incorporated outside of Australia. The entity should be included in the international region that most appropriately reflects the incorporation of the entity. The region can be selected to align to the region(s) chosen by the Level 2 insurance group for reporting insurance business carried on by an entity within the group that is not authorised under the Insurance Act 1973.
Columns for Level 2 insurance group
Column 1 | Column 1 total business, is a derived column (excluding items 34 to 37 inclusive; items 39 to 44 inclusive; and items 47 to 48) and is calculated as the sum of column 2 to column 10. Items 34 to 37 inclusive; items 39 to 44 inclusive; and items 47 to 48: Report the amount for 'total business' (not a derived amount). |
Column 2 | Report the amount for Inter-region elimination. Items 34 to 37 inclusive; items 39 to 44 inclusive; and items 47 to 48: If information is available without undue cost or effort to the reporting insurer, report the amount for ‘Inter-region elimination’, otherwise report nil amounts. |
Column 3 | Report the amount for Australian business. Items 34 to 37 inclusive; items 39 to 44 inclusive; and items 47 to 48: If information is available without undue cost or effort to the reporting insurer, report the amount for ‘Australian business’, otherwise report nil amounts. |
Column 4 | Report the amount for International business - New Zealand. Items 34 to 37 inclusive; items 39 to 44 inclusive; and items 47 to 48: If information is available without undue cost or effort to the reporting insurer, report the amount for ‘International business - New Zealand’, otherwise report nil amounts. |
Column 5 | Report the amount for International business - South East Asia. Items 34 to 37 inclusive; items 39 to 44 inclusive; and items 47 to 48: If information is available without undue cost or effort to the reporting insurer, report the amount for ‘International business - South East Asia’, otherwise report nil amounts. |
Column 6 | Report the amount for International business - Asia Pacific. Items 34 to 37 inclusive; items 39 to 44 inclusive; and items 47 to 48: If information is available without undue cost or effort to the reporting insurer, report the amount for ‘International business - Asia Pacific’, otherwise report nil amounts. |
Column 7 | Report the amount for International business - USA. Items 34 to 37 inclusive; items 39 to 44 inclusive; and items 47 to 48: If information is available without undue cost or effort to the reporting insurer, report the amount for ‘International business - USA’, otherwise report nil amounts. |
Column 8 | Report the amount for International business - Americas. Items 34 to 37 inclusive; items 39 to 44 inclusive; and items 47 to 48: If information is available without undue cost or effort to the reporting insurer, report the amount for ‘International business – Americas’, otherwise report nil amounts. |
Column 9 | Report the amount for International business - UK/Europe. Items 34 to 37 inclusive; items 39 to 44 inclusive; and items 47 to 48: If information is available without undue cost or effort to the reporting insurer, report the amount for ‘International business - UK/Europe’, otherwise report nil amounts. |
Column 10 | Report the amount for International business - Other. Items 34 to 37 inclusive; items 39 to 44 inclusive; and items 47 to 48: If information is available without undue cost or effort to the reporting insurer, report the amount for ‘International business – Other’, otherwise report nil amounts. |
- Insurance revenue
Item 1 | Item 1 total insurance revenue is a derived item and is calculated as the sum of item 1.1 and item 1.2. Report this item in accordance with AASB 101.82 (a) (ii) Disclosure, AASB 17.80 (a) and AASB 17.83. |
Item 1.1 | Column 1: Item 1.1 insurance revenue direct business is a derived item and is calculated as the sum of column 2 to column 10. Columns 2-10: Report insurance revenue direct business. |
Item 1.1.1 | Report insurance revenue from direct business for contracts that existed at the transition date to which the entity has applied the modified retrospective approach. This item only needs to be reported in Column 1. |
Item 1.1.2 | Report insurance revenue from direct business for contracts that existed at the transition date to which the entity has applied the fair value approach. This item only needs to be reported in Column 1. |
Item 1.1.3 | Report insurance revenue from direct business for all other contracts. This item only needs to be reported in Column 1. |
Item 1.2 | Column 1: Item 1.2 insurance revenue from inwards reinsurance business is a derived item and is calculated as the sum of column 2 to column 10 Columns 2-10: Report insurance revenue from inwards reinsurance business. |
Item 1.2.1 | Report insurance revenue from inwards reinsurance business for contracts that existed at the transition date to which the entity has applied the modified retrospective approach. This item only needs to be reported in Column 1. |
Item 1.2.2 | Report insurance revenue from inwards reinsurance business for contracts that existed at the transition date to which the entity has applied the fair value approach. This item only needs to be reported in Column 1. |
Item 1.2.3 | Report insurance revenue from inwards reinsurance business for all other contracts. This item only needs to be reported in Column 1. |
2. Insurance service expense
Item 2 | Item 2 total insurance service expense is a derived item calculated as the sum of items 2.1 and 2.2. Report this item in accordance with AASB 101.82 (ab) Disclosure, AASB 17.80 (a) and AASB 17.84. |
Item 2.1 | Item 2.1 insurance service expense from direct business is a derived item and is calculated as the sum of items 2.1.1 to 2.1.6 inclusive. |
Item 2.1.1 | Report incurred claims from direct business. |
Item 2.1.2 | Report other insurance service expenses from direct business. Report insurance acquisition cash flows that have been recognised as expenses when incurred under AASB 17.59 (a) at this item. |
Item 2.1.3 | Report amortisation of insurance acquisition cash flows from direct business. |
Item 2.1.4 | Report losses and reversal of losses on onerous contracts from direct business. Report this item in accordance with AASB 17.47-52. |
Item 2.1.5 | Report changes that relate to past service: changes to liabilities for incurred claims from direct business. Report this item in accordance with AASB 17.103 (b) (iii) Disclosure. |
Item 2.1.6 | Report impairment losses/reversals on assets for insurance acquisition cash flows from direct business. Report this item in accordance with AASB 17 Appendix A, AASB 17.28B, AASB 17.28E and AASB 17.28F. APRA has interpreted this item to form part of insurance service expense. |
Item 2.2 | Item 2.2 insurance service expenses from inwards reinsurance is a derived item and is calculated as the sum of items 2.2.1 to 2.2.6 inclusive. |
Item 2.2.1 | Report incurred claims from inwards reinsurance. |
Item 2.2.2 | Report other insurance service expenses from inwards reinsurance. Report insurance acquisition cash flows that have been recognised as expenses when incurred under AASB 17.59(a) at this item. |
Item 2.2.3 | Report amortisation of insurance acquisition cash flows from inwards reinsurance. |
Item 2.2.4 | Report losses and reversal of losses on onerous contracts from inwards reinsurance. Report this item in accordance with AASB 17.47-52. |
Item 2.2.5 | Report changes that relate to past service: changes to liabilities for incurred claims from inwards reinsurance. Report this item in accordance with AASB 17.103 (b) (iii) Disclosure. |
Item 2.2.6 | Report impairment losses/reversals on assets for insurance acquisition cash flows from inwards reinsurance. Report this item in accordance with AASB 17 Appendix A, AASB 17.28B, AASB 17.28E and AASB 17.28F. APRA has interpreted this item to form part of insurance service expense. |
3. Insurance service result before reinsurance contracts held
Item 3 | Item 3, insurance service result before reinsurance contracts held, is a derived item and is calculated as the sum of item 1 and item 2. Report this item in accordance with AASB 17 Appendix A. |
4. Allocation of reinsurance premiums
Item 4 | Report allocation of reinsurance premiums. It is requested that the entity present this item separately from amounts recoverable from reinsurers reported at item 5. Report this item in accordance with AASB 17.86. |
5. Amounts recoverable from reinsurers
Item 5 | Report amounts recoverable from reinsurers. Include at this item reversals of recoveries of losses from the reinsurance contracts determined in accordance with AASB 17.66B for reinsurance contracts held. Report this item in accordance with AASB 17.86. The amount reported at this item should reconcile to item 8. ‘Amounts recoverable from reinsurers’ reported in Reporting Standard GRS 320.0.G Liability Roll Forwards Part B: Reinsurance contracts held (outwards reinsurance by cedant/retrocedent) Liability Roll Forward 1 – Reconciliation of the remaining coverage and incurred claims (GRS 320.0.G Part B RF1). |
6. Net expense from reinsurance contracts held
Item 6 | Item 6 is a derived item and is calculated as the sum of item 4 and item 5. This item can be a net income or net expense. Report this item in accordance with AASB 17 Appendix A, AASB 101.82 (ac), AASB 17.82 and AASB 17.86. |
7. Insurance service result
Item 7 | Item 7, insurance service result, is a derived item and is calculated as the sum of item 3 and item 6. Report this item in accordance with AASB 17.80 (a). |
8. Interest revenue calculated using the effective interest method
Item 8 | Report interest revenue calculated using the effective interest method. Report this item in accordance with AASB 101.82 (a) (i) and AASB 9 Appendix A. |
9. Other interest and similar income
Item 9 | Report other interest and similar income include income that is not reported at item 8 and items 10 to 16. |
10. Net gains/losses on financial assets at fair value through profit or loss
Item 10 | Report net gains/losses on financial assets at fair value through profit or loss. Report this item in accordance with AASB 132.11 and AASB 7.20 (a) (i). |
11. Net gains/losses on derecognition of financial assets measured at fair value through other comprehensive income
Item 11 | Report net gains or losses on derecognition of financial assets measured at fair value through other comprehensive income. Report this item in accordance with AASB 132.11 and AASB 7.20 (a) (viii). |
12. Net gains/(losses) on derecognition of financial assets measured at amortised cost
Item 12 | Report net gains/(losses) on derecognition of financial assets measured at amortised cost. Report this item in accordance with AASB 132.11 and AASB 101.82 (aa). |
13. Impairment loss on financial assets
Item 13 | Report impairment loss on financial assets. Report this item in accordance with AASB 9 Appendix A, AASB 132.11 and AASB 101.82 (ba). |
14. Net gains from fair value adjustments to investment properties
Item 14 | Report net gains from fair value adjustments to investment properties. Report this item in accordance with AASB 140.5 and AASB 140.76 (d). |
15. Net foreign exchange income / expense
Item 15 | Report net foreign exchange income or expense. Report this item in accordance with AASB 121.52 (a) Common practice. |
16. Total investment result
Item 16 | Item 16, total investment result, is a derived item and is calculated as the sum of items 8 to 15 inclusive. |
17. Insurance finance expenses for insurance contracts issued
Item 17 | Report insurance finance expenses for insurance contracts issued. This item can be a net income or net expense. Report this item in accordance with AASB 17.87 and AASB 17 Appendix A. |
18. Reinsurance finance income for reinsurance contracts held
Item 18 | Report reinsurance finance income for reinsurance contracts held. This item can be a net income or net expense. Report this item in accordance with AASB 17.82 and AASB 17 Appendix A. Report the “Effect of changes in non-performance risk of reinsurers" as reported in GRS 320.0.G Part B RF1 item 14 at this item. |
19. Net insurance financial result through profit or loss
Item 19 | Item 19 is a derived item and is calculated as the sum of item 17 and item 18. This item can be a net income or net expense. |
20. Asset management services revenue
Item 20 | Report asset management services revenue. This includes revenue from investment management services accounted for in accordance with AASB 15. Report this item in accordance with AASB 15.113 (a) Disclosure and AASB 15.114 Disclosure. |
21. Share of profit/loss of associates and joint ventures accounted for using the equity method
Item 21 | Report the share of profit or loss of associates and joint ventures accounted for using the equity method. Report this item in accordance with AASB 101.82 (c) and AASB 128.3. |
22. Profit/loss from non-current assets and disposal groups classified as held for sale and not qualifying as discontinued operations
Item 22 | Report the profit or loss from non-current assets and disposal groups classified as held for sale and not qualifying as discontinued operations. |
23. Impairment loss for goodwill
Item 23 | Report impairment loss for goodwill. Report this item in accordance with AASB 138.8, AASB 3 Appendix A and AASB 3.B67 (d). |
24. Other income
Item 24 | Report other income that is not reported elsewhere in the Reporting Standard; including income from contracts outside the scope of AASB 17 (including AASB 15 Revenue from Contracts with Customers) under this item. Revenue from investment management services is to be reported at item 21. |
25. Other finance costs
Item 25 | Report other finance costs. Report this item in accordance with AASB 101.82 (b) and includes the interest expense on lease liabilities (based on AASB 16.49 and AASB 16.53 (b)). |
26. Other expenses
Item 26 | Report other expenses. Additionally, include expenses from contracts outside the scope of AASB 17 under this item. |
27. Profit/loss from continuing operations before tax
Item 27 | Item 27 is a derived item and is calculated as the sum of items 7, 16, and items 19 to 26 inclusive. Report this item in accordance with AASB 101.81A (a) Disclosure. |
28. Income tax expense from continuing operations
Item 28 | Report income tax expense from continuing operations. Report this item in accordance with AASB 101.82 (d) and AASB 112.77. |
29. Profit/loss for the year from continuing operations after income tax
Item 29 | Item 29, profit/loss for the year from continuing operations after income tax, is a derived item and is calculated as the sum of item 27 and item 28. Report this item in accordance with AASB 101.81A. |
30. Profit/loss from discontinued operations after income tax
Item 30 | Report profit or loss from discontinued operations after income tax. Report this item in accordance with AASB 101.82 (ea). |
31. Profit (loss) from continuing and discontinued operations
Item 31 | Item 31 profit or loss from continuing and discontinued operations is a derived item and is calculated as the sum of item 29 and item 30. Report this item in accordance with AASB 101.81A (a). |
32. Profit (loss) from continuing and discontinued operations attributable to owners of the parent
Item 32 | Report profit (loss) from continuing and discontinued operations attributable to owners of the parent. Report this item in accordance with AASB 101.81B (a) (ii). |
33. Profit (loss) from continuing and discontinued operations attributable to non-controlling interests
Item 33 | Report profit (loss) from continuing and discontinued operations attributable to non-controlling interests. Report this item in accordance with AASB 101.81B (a) (i). |
Other comprehensive income
Items that may be reclassified to profit or loss in subsequent periods
Report this item in accordance with AASB 101.82A (a) (ii).
34. Change in fair value of financial assets at fair value through other comprehensive income
Item 34 | Report change in fair value of financial assets at fair value through other comprehensive income. Report this item in accordance with AASB 13 Appendix A, AASB 132.11 and AASB 7.20 (a) (viii). |
35. Amount reclassified to profit or loss
Item 35 | Report amount reclassified to profit or loss. Report this item in accordance with AASB 7.20 (a) (viii). |
36. Insurance finance expenses for insurance contracts issued
Item 36 | Report insurance finance expenses for insurance contracts issued. This item can be a net income or net expense. Report this item in accordance with AASB 17.90 and AASB 17 Appendix A. |
37. Reinsurance finance income for reinsurance contracts held
Item 37 | Report reinsurance finance income for reinsurance contracts held. This item can be a net income or net expense. Report this item in accordance with AASB 17.82, AASB 17.90 and AASB 17 Appendix A. |
38. Net insurance financial result through other comprehensive income
Item 38 | Item 38 is a derived item and is calculated as the sum of item 36 and item 37. This item can be a net income or net expense. |
39. Share of other comprehensive income of associates and joint ventures accounted for using the equity method
Item 39 | Report the share of other comprehensive income of associates and joint ventures accounted for using the equity method. Report this item in accordance with AASB 101.82A (b) (ii). |
40. Income tax relating to items that will be reclassified
Item 40 | Report income tax relating to items that will be reclassified. Report this item in accordance with AASB 101.91. |
Items that will not be reclassified to profit or loss
Report this item in accordance with AASB 101.82A (a) (i).
41. Revaluation of land and buildings
Item 41 | Report revaluation of land and buildings. Report this item in accordance with AASB 116.39. |
42. Share of other comprehensive income of associates and joint ventures accounted for using the equity method
Item 42 | Report share of other comprehensive income of associates and joint ventures accounted for using the equity method. Report this item in accordance with AASB 101.82A (b) (i) and AASB 128.3. |
43. Remeasurements of post-employment benefit obligations, before tax
Item 43 | Report remeasurements of post-employment benefit obligations, before tax. Report this item in accordance with AASB 119.120 (c). |
44. Income tax relating to items that will not be reclassified
Item 44 | Report income tax relating to items that will not be reclassified. Report this item in accordance with AASB 101.91. |
45. Total other comprehensive income
Item 45 | Item 45 total other comprehensive income is a derived item and is calculated as the sum of item 34, 35, and items 38 to 44 inclusive. Report this item in accordance with AASB 101.81A (b). |
46. Total comprehensive income
Item 46 | Item 46 total comprehensive income is a derived item and is calculated as the sum of item 31 and item 45. Report this item in accordance with AASB 101.81A (c). |
47. Total comprehensive income attributable to owners of the parent
Item 47 | Report total comprehensive income attributable to owners of the parent. Report this item in accordance with AASB 101.81B (b) (ii). |
48. Total comprehensive income attributable to non-controlling interests
Item 48 | Report total comprehensive income attributable to non-controlling interests. Report this item in accordance with AASB 101.81B (b) (i). |