Document ID: chunk:federal_register_of_legislation:F2023L00704:body:0:p9
Version: federal_register_of_legislation:F2023L00704
Segment Type: other
Provision Reference: 
Character Range: 22318–25386

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 LRS 320.0 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 (LRS 320.0 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 change in investment contract liabilities
Item 12  Report the net change in investment contract liabilities.

         Report this item in accordance with AASB 7.20 (a) (i).

13.             Net gains/losses on derecognition of financial assets measured at amortised cost
Item 13  Report net gains/losses on derecognition of financial assets measured at amortised cost.

         Report this