Financial Sector (Collection of Data) (reporting standard) determination No. 121 of 2023
Reporting Standard LRS 300.0 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. 32 of 2023, including Reporting Standard LRS 300.0 Statement of Financial Position made under that Determination; and
(b) determine Reporting Standard LRS 300.0 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 LRS 300.0 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 LRS 300.0 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 LRS 300.0 Statement of Financial Position comprises the document commencing on the following page.
Reporting Standard LRS 300.0
Statement of Financial Position
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 capital adequacy standards.
3. This Reporting Standard applies to all life insurance companies including friendly societies (together referred to as ‘life companies’) registered under the Life Insurance Act 1995 (Life Act). This Reporting Standard applies for reporting periods ending on or after 1 July 2023.
Information required
4. A life company must provide APRA with the information required by this Reporting Standard for each reporting period.
5. The information reported to APRA under this Reporting Standard is not required to be given to policy owners pursuant to section 124 of the Life Act. It does not constitute a reporting document for the purposes of section 124.
Method of submission
6. 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
7. Subject to paragraph 8, a life company must provide the information required by this Reporting Standard:
(a) in respect of each quarter based on the financial year of the life company on an unaudited basis; and
(b) in respect of each financial year of the life company on an audited basis.
Note 1: This means that information provided under this Reporting Standard will be submitted five times for a full financial year.
Note 2: The annual audited information provided under this Reporting Standard must be submitted in conjunction with the annual auditor’s report, as required under Prudential Standard LPS 310 Audit and Related Matters.
8. If, having regard to the particular circumstances of a life company, APRA considers it necessary or desirable to obtain information more or less frequently than as provided by subparagraph 7(a) or 7(b), APRA may, by notice in writing, change the reporting periods, or specify reporting periods, for the particular life company.
9. The information required by this Reporting Standard in respect of a life company must be provided to APRA:
(a) in the case of quarterly information, within 20 business days 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 8, within the time specified by notice in writing.
10. APRA may, in writing, grant a life company an extension of a due date, 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, a life company is nonetheless required to submit the information required no later than the due date.
Quality control
11. The information provided by a life company under this Reporting Standard must be the product of systems, processes and controls that have been reviewed and tested by the Auditor of the life company. This will require the Auditor to review and test the life company’s systems, processes and controls supporting the reporting of the information to enable the life company to provide 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 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 LPS 310 Audit and Related Matters.
12. All information provided by a life company under this Reporting Standard must be subject to systems, processes and controls developed by the life company for the internal review and authorisation of that information. It is the responsibility of the Board and senior management of the life company to ensure that an appropriate set of policies and procedures for the authorisation of data submitted to APRA is in place.
13. Actuarial valuations and calculations included in or used in the preparation of the information provided to APRA must be in accordance with the prudential standards in force for the reporting period. However, life companies may use reasonable estimates when preparing information that will not be audited (i.e. for the first four submissions of information for a full financial year).
Authorisation
14. When an officer or agent of a life company 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.
15. An officer or agent of a life company who submits information under this Reporting Standard must be authorised by either:
(a) the Principal Executive Officer of the life company; or
(b) the Chief Financial Officer of the life company.
Variations
16. APRA may, by written notice to the life company, vary the reporting requirements of this Reporting Standard in relation to that life company.
17. A life company 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 that made 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 life company 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 life company 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 life company 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 Prudential Standard LPS 001 Definitions (LPS 001); and
(b) the following definitions are applicable:
Auditor means an auditor appointed under paragraph 83 of the Life Act.
capital adequacy standards means the prudential standards which relate to capital adequacy as defined in LPS 001.
Chief Financial Officer means the chief financial officer of the life company, by whatever name called.
financial year has the meaning in the Corporations Act 2001.
general instruction guide refers to the general instruction guide set out in Attachment A of LRS 001.
Life Act means the Life Insurance Act 1995.
Principal Executive Officer means the principal executive officer of the life company, by whatever name called, and whether or not he or she is a member of the governing board of the entity.
reporting period means a reporting period under subparagraph 7(a) or 7(b) or, if applicable, paragraph 8.
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 LRS 300.0
Statement of Financial Position
General instructions
These instructions assist completion of the Reporting Standard LRS 300.0 Statement of Financial Position (Individual statutory fund, Licensed insurer and statutory fund eliminations). The report collects information relating to the licensed insurer’s 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
In completing the reporting standards, unless otherwise stated specifically, reporting life companies are to follow the basis consistent with the relevant Australian Accounting Standards. In particular, appropriate consideration must be given to the interpretation, the basis for measurement, and the netting between revenues/expenses items and financial assets/liabilities.
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 references
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.
Reporting directions for life insurers
For APRA reporting, life insurers must also meet the relevant policy liability valuation requirements outlined in the Prudential Standard LPS 340 Valuation of Policy Liabilities (LPS 340).
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 life insurers including friendly societies (together referred to as life companies) for each reporting period on statutory fund (approved benefit fund for a friendly society), licensed insurer (LI) and statutory fund eliminations bases.
LRS 300.0 – Statutory fund (Table 1) data must be submitted for each statutory fund (approved benefit fund for a friendly society) separately for each reporting period.
LRS 300.0 – LI (Table 2) data must be submitted for the sum of individual statutory funds, the sum of statutory fund eliminations, the general fund, and if applicable the general fund eliminations for each reporting period. The term, ‘general fund’ has been used to refer to the shareholders’ fund of a life company other than a friendly society or the management fund of a friendly society.
APRA class of business
The APRA class of business that apply for the purpose of this Reporting Standard are:
Australia – Ordinary Business
Australia – Superannuation Business
Overseas – All Business
The expressions Australian Business and Overseas Business refer to the territories where the life insurance business is carried on.
The expressions Ordinary Business and Superannuation Business are defined in the Life Act.
This section is also to be completed for each participating and non-participating business. The expressions participating business and non-participating business are defined in the Life Act.
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.
Statutory fund (Table 1): Column 1 | Report the total amount for Australian business for the individual statutory fund. |
Statutory fund (Table 1): Column 2 | Report the total amount for overseas business for the individual statutory fund. |
Statutory fund (Table 1): Column 3 | Column 3 ‘Total business’ is a derived column and is calculated as the sum of column 1 and column 2. |
LI (Table 2):
Column 1 | Report the total amounts for Australian business before statutory fund eliminations representing the sum of individual statutory funds in positive values. |
LI (Table 2):
Column 2 | Report the total amounts for overseas business before statutory fund eliminations representing the sum of individual statutory funds in positive values. |
LI (Table 2):
Column 3 | Column 3 ‘Total business before statutory fund eliminations’ is a derived column and is calculated as the sum of columns 1 and 2. |
LI (Table 2):
Column 4 | Report the total amounts for Australian business statutory fund eliminations in negative values. |
LI (Table 2):
Column 5 | Report the total amounts for overseas business statutory fund eliminations in negative values. |
LI (Table 2):
Column 6 | Column 6 ‘Total business’ is a derived column and is calculated as the sum of columns 4 and 5. |
LI (Table 2):
Column 7 | Column 7 ‘Australian business after statutory fund eliminations’ is a derived column and is calculated as the sum of columns 1 and 4. |
LI (Table 2):
Column 8 | Column 8 ‘Overseas business after statutory fund eliminations’ is a derived column and is calculated as the sum of columns 2 and 5. |
LI (Table 2):
Column 9 | Column 9 ‘Total business (after statutory fund eliminations)’ is a derived column and is calculated as the sum of columns 7 and 8. |
LI (Table 2):
Column 10 | Report the amount for the general fund in positive values. |
LI (Table 2):
Column 11 | Report the amount for general fund eliminations in negative values. |
LI (Table 2):
Column 12 | Column 12 ‘Total entity’ is a derived column and is calculated as the sum of columns 9, 10 and 11. |
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. This item is based on 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 quarterly returns (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 quarterly returns (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 and is 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 is total debt instruments held - non-indexed IBS and indexed IBS a derived item and is 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 is other non-financial assets, 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 is total intangible assets and goodwill, 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 is intangible assets other than goodwill, 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 Disclosure 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 is reinsurance contract liabilities, a derived item and is 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), AASB 17.100 Disclosure 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 and is 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. Report item 21.2 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, 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 and is 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 – 24.3 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 is total liabilities, 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 is 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 is total equity, a derived item calculated as the sum of items 28.1 to 28.3 inclusive. 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 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) 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. |
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