Document ID: chunk:federal_register_of_legislation:F2023L00571:body:0:p4
Version: federal_register_of_legislation:F2023L00571
Segment Type: other
Provision Reference: 
Character Range: 8501–11521

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) 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 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.

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.

Definitions

Terms highlighted in bold italics indicate that the definition is provided in these instructions.

Specific instructions

Reporting basis

Information in this Reporting Standard is to be completed by private health insurer for each reporting period on a private health insurer basis.

Units of measurement

Report values in this Reporting Standard in whole Australian dollars (AUD).

Convert amounts denominated in foreign currency to AUD in accordance with AASB 121 The Effects of Changes in Foreign Exchange Rates.

APRA product groups

The terms Health benefits fund (HBF) and general fund (GF) have the meaning given to them in Prudential Standard HPS 001 Definitions.
Column 1   Report the amount for the health benefits fund (HBF).
Column 2   Report the amount for the general fund (GF).

           Report nil amounts if the private health insurer (PHI) does not have a GF.
Column 3   Column 3 Private Health Insurer (PHI), is a derived column and is calculated as the sum of column 1 and column 2.

Assets

 1.               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