Financial Sector (Collection of Data) (reporting standard) determination No. 80 of 2023
Reporting Standard GRS 300.0.G Statement of Financial Position
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. 13 of 2016, including Reporting Standard GRS 300.0_G Statement of Financial Position (Level 2 Insurance Group) made under that Determination; and
(b) determine Reporting Standard GRS 300.0.G Statement of Financial Position, 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 300.0.G Statement of Financial Position shall begin to apply to those financial sector entities, and the revoked reporting standard shall cease to apply, on the day Reporting Standard GRS 300.0.G Statement of Financial Position 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 300.0.G Statement of Financial Position comprises the document commencing on the following page.
Reporting Standard GRS 300.0.G
Statement of Financial Position
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 financial position.
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 accounts of a Level 2 insurance group 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 300.0.G
Statement of Financial Position
General instructions
These instructions assist completion of the Reporting Standard GRS 300.0.G Statement of Financial Position, which collects information relating to the Level 2 insurance group statement of financial position.
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.
General accounting basis
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. The 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 (IASB)) 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 they 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.
Assets for insurance acquisition cash flows
Any assets recognised for insurance acquisition cash flows paid under AASB 17.28B (pre-coverage or relating to renewals) are included as part of the carrying amount of the related portfolios of insurance contracts issued (in accordance with AASB 17.79). Similarly, any assets or liabilities for cash flows related to portfolios of reinsurance contracts held are reported in accordance with AASB 17.79.
Specific instructions
Information in this Reporting Standard is to be completed by general insurers for each reporting period on a Level 2 insurance group basis.
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.
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 | Report the amount for Australian business. |
Column 2 | Report the amount for International business. |
Column 3 | Report the amount for Inter-region elimination. |
Column 4 | Column 4 total business, is a derived column and is calculated as the sum of column 1 to column 3. |
Assets
- Total cash and cash equivalents
Item 1 | Item 1 total cash and cash equivalents is a derived item calculated as the sum of item 1.1 and item 1.2. Report this item in accordance with AASB 101.54 (i) Disclosure and AASB 107.6. |
Item 1.1 | Report cash. Report this item in accordance with AASB 101.54 (i) Disclosure and AASB 107.6. |
Item 1.2 | Report cash equivalents. Report this item in accordance with AASB 101.54 (i) Disclosure and AASB 107.6. |
2. Total receivables
Item 2 | Item 2 total receivables is a derived item calculated as the sum of items 2.1 to 2.3 inclusive. Report this item in accordance with AASB 101.54 (h) Disclosure and AASB 101.78 (b) Disclosure. |
Item 2.1 | Report accrued income receivable. Report this item in accordance with AASB 101.78 (b) Common practice. |
Item 2.2 | Report prepayments. Report this item in accordance with AASB 101.78 (b) Example. |
Item 2.3 | Report other receivables. Report this item in accordance with AASB 101.78 (b) Example. Lessors report finance lease receivables at this item. |
3. Current tax assets
Item 3 | Report current tax assets. Report this item in accordance with AASB 112.5 and AASB 101.54 (n) Disclosure. |
4. Total deferred tax assets
Item 4 | Item 4 total deferred tax assets is a derived item calculated as the sum of item 4.1 and item 4.2. Report this item in accordance with AASB 101.54 (o) Disclosure, AASB 112.5, AASB 112.81 (g) (i) Disclosure and AASB 101.56 Disclosure. |
Item 4.1 | Report unused tax losses. Report this item in accordance with AASB 112.81 (g) Disclosure. Report this amount on an annual basis per that disclosed in the insurer’s yearly statutory accounts. For the half yearly return (not the annual return), when the insurer does not have sufficient information to report a split, report this in item 4.2 Other deferred tax assets. |
Item 4.2 | Report other deferred tax assets. Report this item in accordance with AASB 112.5 and AASB 112.81 (g) Common practice. For the half yearly return (not the annual return), when the insurer does not have sufficient information to report total deferred tax assets split between items 4.1 and 4.2, report total deferred tax assets here. |
5. Other assets
Item 5 | Item 5 other assets, is a derived item, calculated as the sum of item 5.1 and item 5.2. Report this item in accordance with AASB 101.54 (d) Disclosure. |
Item 5.1 | Item 5.1 other financial assets, is a derived item calculated as the sum of items 5.1.1 to 5.1.6 inclusive. Report this item in accordance with AASB 132.11 and AASB 101.54 (d) Disclosure. |
Item 5.1.1 | Report investments. Report investment balances that are not reported elsewhere in this Reporting Standard. Report this item in accordance with AASB 101.55 Common practice. |
Item 5.1.2 | Report derivative financial instruments. Report this item in accordance with AASB 101.55 Common practice and AASB 9 Appendix A. |
Item 5.1.3 | Report securities purchased under agreement to resell. Report this item in accordance with AASB 101.55 Common practice, AASB 9.3.2.15, AASB 9.3.2.23 (a), AASB 9.B3.2.16 (a)–(c), AASB 7.14, AASB 7.15 and AASB 7.42D (a)–(c) Disclosure. |
Item 5.1.4 | Report equities/unit trusts. Report this item in accordance with AASB 101.55 Common practice. |
Item 5.1.5 | Item 5.1.5 total debt instruments held - non-indexed IBS and indexed IBS, is a derived item calculated as the sum of item 5.1.5.1 and item 5.1.5.2. Report this item in accordance with AASB 101.55 Common practice. |
Item 5.1.5.1 | Report non-indexed interest-bearing securities (IBS). Report this item in accordance with AASB 101.55 Common practice. |
Item 5.1.5.2 | Report indexed IBS. Report this item in accordance with AASB 101.55 Common practice. |
Item 5.1.6 | Report other financial assets – other. Report this item in accordance with AASB 101.54 (d) Disclosure. |
Item 5.2 | Item 5.2 other non-financial assets, is a derived item calculated as the sum of item 5.2.1 and item 5.2.2. Report this item in accordance with AASB 101.55 Common practice. |
Item 5.2.1 | Report net defined benefit asset. Report this item in accordance with AASB 119.8 and AASB 119.63. |
Item 5.2.2 | Report other non-financial assets – other. Report this item in accordance with AASB 101.55 Common practice. |
6. Total non-current assets and disposal groups classified as held for sale
Item 6 | Report total non-current assets and disposal groups classified as held for sale. Report this item in accordance with AASB 101.54 (j) Disclosure, AASB 5 Appendix A and AASB 5.6. |
7. Insurance contract assets
Item 7 | Item 7 insurance contract assets, is a derived item calculated as the sum of item 7.1 and item 7.2. Report this item in accordance with AASB 17 Appendix A, AASB 17.78 (a), AASB 17.100 Disclosure and AASB 101.54 (da). |
Item 7.1 | Report assets for incurred claims (being the asset equivalent of the liabilities for incurred claims) that are presented as insurance contract assets. Report this item in accordance with AASB 17 Appendix A, AASB 17.78 (a) Disclosure, AASB 17.100 (c) Disclosure and AASB 101.54 (da) Disclosure. |
Item 7.2 | Report assets for remaining coverage (being the asset equivalent of the liabilities for remaining coverage) that are presented as insurance contract assets. Report this item in accordance with AASB 17 Appendix A, AASB 17.78 (a) Disclosure, AASB 17.100 (a)-(b) Disclosure and AASB 101.54 (da) Disclosure. |
8. Reinsurance contract assets
Item 8 | Item 8 reinsurance contract assets, is a derived item calculated as the sum of item 8.1 and item 8.2. Report this item in accordance with AASB 17 Appendix A, AASB 17.78 (c), AASB 17.100 Disclosure and AASB 101.54 (da). |
Item 8.1 | Report assets for incurred claims that are presented as reinsurance contract assets. Report this item in accordance with AASB 17 Appendix A, AASB 17.78 (c) Disclosure, AASB 17.100 (c) Disclosure and AASB 101.54 (da) Disclosure. |
Item 8.2 | Report assets for remaining coverage that are presented as reinsurance contract assets. Report this item in accordance with AASB 17 Appendix A, AASB 17.78 (c) Disclosure, AASB 17.100 (a)-(b) Disclosure and AASB 101.54 (da) Disclosure. |
9. Total investments accounted for using the equity method
Item 9 | Item 9 total investments accounted for using the equity method is a derived item calculated as the sum of item 9.1 and item 9.2. Report this item in accordance with AASB 128.3, AASB 12.B16 Disclosure, AASB 101.54 (e) Disclosure and AASB 8.24 (a) Disclosure. |
Item 9.1 | Report investments in associates accounted for using the equity method. Report this item in accordance with AASB 101.55 Common practice, AASB 128.3 and AASB 128.16. |
Item 9.2 | Report investments in joint ventures accounted for using the equity method. Report this item in accordance with AASB 101.55 Common practice, AASB 128.3 and AASB 128.16. |
10. Investments in subsidiaries, joint ventures and associates not accounted for using equity method
Item 10 | Item 10 investments in subsidiaries, joint ventures and associates not accounted for using the equity method, is a derived item calculated as the sum of items 10.1 to 10.3 inclusive. Report this item in accordance with AASB 127.10 Disclosure, AASB 10 Appendix A and AASB 128.3. |
Item 10.1 | Report investments in subsidiaries not accounted for using the equity method. Report this item in accordance with AASB 10 Appendix A and AASB 127.10 Disclosure. |
Item 10.2 | Report investments in associates not accounted for using the equity method. Report this item in accordance with AASB 101.55 Common practice, AASB 128.3 and AASB 128.17-19 |
Item 10.3 | Report investments in joint ventures not accounted for using the equity method. Report this item in accordance with AASB 101.55 Common practice, AASB 128.3 and AASB 128.17-19. |
11. Total property, plant & equipment net of depreciation/impairment
Item 11 | Item 11 property, plant and equipment net of depreciation / impairment is a derived item calculated as item 11.1 less item 11.2. Report this item in accordance with AASB 116.6, AASB 116.73 (e) Disclosure and AASB 101.54 (a) Disclosure. |
Item 11.1 | Report property, plant and equipment – gross carrying amount. Report this item in accordance with AASB 116.6 and AASB 116.73 (d) Disclosure |
Item 11.2 | Report property, plant and equipment – accumulated depreciation. Report this item in accordance with AASB 116.75 (b) Disclosure and AASB 116.73 (d) Common practice. |
12. Total investment property
Item 12 | Report total investment property. Report this item in accordance with AASB 101.54 (b) Disclosure, AASB 140.5, AASB 140.79 (d) Disclosure and AASB 140.76 Disclosure. |
13. Right-of-use assets
Item 13 | Report right-of-use assets. Report this item in accordance with AASB 16.47 (a) Disclosure. |
14. Total intangible assets and goodwill
Item 14 | Item 14 total intangible assets and goodwill, is a derived item calculated as the sum of item 14.1 and item 14.2 less item 14.3. Report this item in accordance with AASB 3 Appendix A, AASB 138.8 and AASB 138.118 Common practice. |
Item 14.1 | Report goodwill. Report this item in accordance with AASB 3 Appendix A, AASB 136.135 (a) Disclosure, AASB 136.134 (a) Disclosure, AASB 3.B67 (d) Disclosure and AASB 101.54 (c) Disclosure. |
Item 14.2 | Item 14.2 intangible assets other than goodwill, is a derived item calculated as the sum of item 14.2.1 and item 14.2.2. Report this item in accordance with AASB 138.8, AASB 101.54 (c) Disclosure and AASB 138.118 (e) Disclosure. |
Item 14.2.1 | Report intangible assets with a finite life. Report this item in accordance with AASB 138.8, AASB 136.135 (b) Disclosure, AASB 138.122 (a) Disclosure and AASB 136.134 (b) Disclosure. |
Item 14.2.2 | Report intangible assets with an indefinite life. Report this item in accordance with AASB 138.8, AASB 136.135 (b) Disclosure, AASB 138.122 (a) Disclosure and AASB 136.134 (b) Disclosure. |
Item 14.3 | Report total accumulated amortisation and impairment of intangible assets and goodwill. Report this item in accordance with AASB 138.8, AASB 138.118 (c) Disclosure and AASB 3 Appendix A. |
15. Total assets
Item 15 | Item 15 total assets, is a derived item calculated as the sum of items 1 to 14 inclusive. Report this item in accordance with AASB 101.55 Disclosure. |
Liabilities and equity
16. Total payables
Item 16 | Item 16 total payables, is a derived item calculated as the sum of items 16.1 to 16.3 inclusive. Report this item in accordance with AASB 101.54 (k) Disclosure. |
Item 16.1 | Report accrued expenses. Report this item in accordance with AASB 101.55 Common practice. |
Item 16.2 | Report dividends payable. |
Item 16.3 | Report other payables. Report this item in accordance with AASB 101.55 Common practice. |
17. Investment contract liabilities
Item 17 | Report investment contract liabilities. Report this item in accordance with AASB 101.54 (m). |
18. Insurance contract liabilities
Item 18 | Item 18 insurance contract liabilities, is a derived item calculated as the sum of item 18.1 and item 18.2. Report this item in accordance with AASB 17 Appendix A, AASB 17.78 (b), AASB 17.100 and AASB 101.54 (ma). |
Item 18.1 | Report liabilities for incurred claims that are presented as insurance contract liabilities. Report this item in accordance with AASB 17 Appendix A, AASB 17.78 (b) Disclosure, AASB 17.100 (c) Disclosure and AASB 101.54 (ma) Disclosure. |
Item 18.2 | Report liabilities for remaining coverage that are presented as insurance contract liabilities. Report this item in accordance with AASB 17 Appendix A, AASB 17.78 (b) Disclosure, AASB 17.100 (a)-(b) Disclosure and AASB 101.54 (ma) Disclosure. |
19. Reinsurance contract liabilities
Item 19 | Item 19 reinsurance contract liabilities, is a derived item calculated as the sum of item 19.1 and item 19.2. Report this item in accordance with AASB 17 Appendix A, AASB 17.78 (d) and AASB 101.54 (ma). |
Item 19.1 | Report liabilities for incurred claims (being the liability equivalent of the assets for incurred claims) that are presented as reinsurance contract liabilities. Report this item in accordance with AASB 17 Appendix A, AASB 17.78 (d) Disclosure, AASB 17.100 (c) Disclosure and AASB 101.54 (ma) Disclosure. |
Item 19.2 | Report liabilities for remaining coverage (being the liability equivalent of assets for remaining coverage) that are presented as reinsurance contract liabilities. Report this item in accordance with AASB 17 Appendix A, AASB 17.78 (d) Disclosure, AASB 17.100 (a)-(b) Disclosure and AASB 101.54 (ma) Disclosure. |
20. Lease liabilities
Item 20 | Report lease liabilities. Report this item in accordance with AASB 16.47 (b) Disclosure. |
21. Other liabilities
Item 21 | Item 21 other liabilities, is a derived item calculated as the sum of item 21.1 other financial liabilities and item 21.2 other non-financial liabilities. |
Item 21.1 | Item 21.1 other financial liabilities, is a derived item calculated as the sum of items 21.1.1 to 21.1.9 inclusive. Report this item in accordance with AASB 132.11 and AASB 101.54 (m) Disclosure. |
Item 21.1.1 | Report overdrafts. Report this item in accordance with AASB 107.45 Common practice. |
Item 21.1.2 | Report securities issued (e.g. promissory notes/commercial paper). Report this item in accordance with AASB 101.55 Common practice. |
Item 21.1.3 | Item 21.1.3 term loans, is a derived item. Report item 21.1.3 as the sum of item 21.1.3.1 and item 21.1.3.2. Report this item in accordance with AASB 101.112 (c) Common practice. |
Item 21.1.3.1 | Report term loans with a variable interest rate. Report this item in accordance with AASB 7.39 Common practice. |
Item 21.1.3.2 | Report term loans with a fixed interest rate. Report this item in accordance with AASB 7.39 Common practice. |
Item 21.1.4 | Report total borrowings. Report this item in accordance with AASB 101.55 Common practice. |
Item 21.1.5 | Report securities sold under agreements to repurchase. Report this item in accordance with AASB 101.55 Common practice. |
Item 21.1.6 | Report derivative financial instruments. Report this item in accordance with AASB 101.55 Common practice and AASB 9 Appendix A. |
Item 21.1.7 | Report loan capital. Report this item in accordance with AASB 101.55 Common practice. |
Item 21.1.8 | Report hybrid securities. Report this item in accordance with AASB 101.106 (d) Common practice. |
Item 21.1.9 | Report other financial liabilities - other. Report this item in accordance with AASB 132.11 and AASB 101.55 Common practice. |
Item 21.2 | Item 21.2 other non-financial liabilities is a derived item and is calculated as the sum of item 21.2.1 and item 21.2.2. |
Item 21.2.1 | Report net defined benefit liability. Report this item in accordance with AASB 119.8 and AASB 119.63. |
Item 21.2.2 | Report other non-financial liabilities – other. Report this item in accordance with AASB 101.55 Common practice. |
22. Current tax liabilities
Item 22 | Report current tax liabilities. Report this item in accordance with AASB 112.5 and AASB 101.54 (n) Disclosure. |
23. Deferred tax liabilities
Item 23 | Report deferred tax liabilities. Report this item in accordance with AASB 112.5 and AASB 101.54 (o) Disclosure, AASB 112.81 (g) (i) Disclosure and AASB 101.56 Disclosure. |
24. Provisions
Item 24 | Item 24 provisions, is a derived item calculated as the sum of items 24.1 to 24.3 inclusive. Report this item in accordance with AASB 137.10, AASB 137.84 (a) Disclosure and AASB 101.78 (d) Disclosure. |
Item 24.1 | Report provisions for restructuring costs. Report this item in accordance with AASB 137.10 and AASB 137.70 Example. |
Item 24.2 | Report provisions for employee entitlements. Report this item in accordance with AASB 137.10 and AASB 101.78 (d) Disclosure. |
Item 24.3 | Report any other provisions not reported in items 24.1 – 24.2 inclusive. Report this item in accordance with AASB 137.10, AASB 137.84 (a) Disclosure and AASB 101.78 (d) Disclosure. |
25. Liabilities included in disposal groups classified as held for sale
Item 25 | Report liabilities included in disposal groups classified as held for sale. Report this item in accordance with AASB 5 Appendix A, AASB 101.54 (p) Disclosure and AASB 5.38 Disclosure. |
26. Total liabilities
Item 26 | Item 26 total liabilities, is a derived item calculated as the sum of items 16 to 25 inclusive. Report this item in accordance with AASB 101.55 Disclosure. |
27. Net assets
Item 27 | Item 27 net assets, a derived item calculated as item 15 less item 26. Report this item in accordance with AASB 101.112 (c) Common practice and AASB 1.IG63 Example. |
28. Total equity
Item 28 | Item 28 total equity is a derived item calculated as the sum of item 28.4 and item 28.5. Report this item in accordance with AASB 101.55 Disclosure and AASB 101.78 (e) Disclosure. |
Item 28.1 | Item 28.1 total issued capital is a derived item calculated as the sum of items 28.1.1 to 28.1.3. Report this item in accordance with AASB 101.78 (e) Example. |
Item 28.1.1 | Report ordinary shares. Report this item in accordance with AASB 133.5 and AASB 101.79 (a) Common practice. |
Item 28.1.2 | Report preference shares. Report this item in accordance with AASB 101.79 (a) Common practice. |
Item 28.1.3 | Report other issued capital. Report this item in accordance with AASB 101.79 (a) Disclosure. Report mutual equity interests at this item. |
Item 28.2 | Item 28.2 total reserves is a derived item calculated as the sum of items 28.2.1 to 28.2.10 inclusive. Report this item in accordance with AASB 101.78 (e) Example. |
Item 28.2.1 | Report general reserves. Report this item in accordance with AASB 101.106 Disclosure and AASB 101.79 (b) Disclosure. |
Item 28.2.2 | Report capital profits reserves. Report this item in accordance with AASB 101.108 Common practice. |
Item 28.2.3 | Item 28.2.3 total asset revaluation reserves is a derived item and is calculated as the sum of item 28.2.3.1 and item 28.2.3.2. |
Item 28.2.3.1 | Report asset revaluation reserves for property, plant and equipment. Report this item in accordance with AASB 101.108, AASB 16.39 and AASB 116.77 (f) Disclosure. |
Item 28.2.3.2 | Report asset revaluation reserves for intangibles. Report this item in accordance with AASB 138.124 (b) Disclosure. |
Item 28.2.4 | Report foreign currency translation reserves. Report this item in accordance with AASB 101.78 (e) Common practice, AASB 101.108 and AASB 121.52 (b). |
Item 28.2.5 | Report cash flow hedge reserves. Report this item in accordance with AASB 101.78 (e) Common practice and AASB 9.6.5.11 Disclosure. |
Item 28.2.6 | Report share-based payment reserves. Report this item in accordance with AASB 101.78 (e) Common practice. |
Item 28.2.7 | Report financial assets at FVOCI. Report this item in accordance with AASB 101.78 (e) Common practice. |
Item 28.2.8 | Report cost of hedging reserves. Report this item in accordance with AASB 101.108 Example and AASB 9.6.5.16 Disclosure. |
Item 28.2.9 | Report insurance/reinsurance finance reserve. Insurance finance reserve represents the reserve of insurance finance income (expenses) from insurance contracts issued excluded from profit or loss. Reinsurance finance reserve represents the reserve of finance income (expenses) from reinsurance contracts held. Report the amount of insurance finance expense or income recognised in other comprehensive income where the entity chooses the accounting policy set out in AASB 17.88(b) or AASB 17.89(b). Report this item in accordance with AASB 101.54 (r) Disclosure, 101.78 (e) Disclosure and AASB 101.108 Example. |
Item 28.2.10 | Report other reserves. Report this item in accordance with AASB 101.106 Disclosure and AASB 101.79 (b) Disclosure. |
Item 28.3 | Report retained earnings. Report this item in accordance with AASB 101.IG6 Example and AASB 101.78 (e) Example. |
Item 28.4 | Item 28.4 total equity attributable to owners of parent is a derived item calculated as the sum of items 28.1 to 28.3 inclusive. Report this item in accordance with AASB 101.54 (r). |
Item 28.5 | Report non-controlling interests. Report this item in accordance with AASB 101.54 (q) and AASB 10.22. |