Document ID: chunk:federal_register_of_legislation:F2023L00301:body:0:p12
Version: federal_register_of_legislation:F2023L00301
Segment Type: other
Provision Reference: 
Character Range: 32767–35732

Report the realised and unrealised foreign exchange gains / losses relating to the translation / conversion into AUD of the value of outstanding claims liabilities that are to be paid / settled in a currency other than the AUD.

           2.2.2.1.           Underlying exposure

    This is the value of realised and unrealised foreign exchange gains / losses relating to claims liabilities which have been hedged.

           2.2.2.2.           Derivatives (hedging borrowing exposure)

    This is the value of realised and unrealised foreign exchange gains / losses relating to derivatives over hedged claims exposure.

      2.2.3.             Other

This is a balancing item and is the value of any realised and unrealised foreign exchange gains / losses relating to other liabilities not otherwise specifically reported under Item 2.2 or Item 1.

This is automatically calculated as Item 2.2 less the sum of Items 2.2.1.1, 2.2.1.2, 2.2.2.1 and 2.2.2.2.

     2.3.               Total net increment / decrement (or write-down) from revaluation

This is the value of gains / losses from the revaluation of assets that are recognised in the profit / loss for the relevant period. This item relates to any increment / decrement (write-down) in the carrying amount of assets. Do not include revaluation increments or decrements that are taken to an asset revaluation reserve or an available for sale reserve in accordance with Australian Accounting Standards.

      2.3.1.             Investment in controlled entities

This is the value of any increment / decrement in the carrying amount of investments in controlled entities that is recognised in the profit / loss.

      2.3.2.             Investment in associates / joint ventures

This is the value of any increment / decrement in the carrying amount of investments in associates and joint ventures that is recognised in the profit / loss. This item is not applicable for the adjustments to the carrying amount of investments in associates where the reporting insurer accounts for these interests by the use of the equity method of accounting.

      2.3.3.             Other assets

This is a balancing item and is the value of any increment or decrement in the carrying amount of other assets (except investments) not separately disclosed above that is recognised in the profit / loss. Do not record any values attributable to assets recorded as investments as these are to be disclosed in Item 1.

It is automatically calculated as Item 2.3 less the sum of Items 2.3.1 and 2.3.2.

    2.4.           Share of net profits (losses) of associates and joint ventures accounted for using the equity method of accounting

This represents the income / loss recognised by the reporting insurer where the equity method of accounting is adopted to account for the investment in an associate or joint venture as required by AASB 128 and AASB 11 respectively.

     2.5.               Total fees