Document ID: chunk:federal_register_of_legislation:F2024L00708:body:0:p92
Version: federal_register_of_legislation:F2024L00708
Segment Type: other
Provision Reference: 
Character Range: 246484–249366

Segments.

Explanation of recognised amounts
 ...
103 An entity shall separately disclose in the reconciliations required in paragraph 100 each of the following amounts related to services, if applicable:
...
(c) investment components excluded from insurance revenue and insurance service expenses (combined with refunds of premiums unless refunds of premiums are disclosed presented as part of the cash flows in the period described in paragraph 105(a)(i)).
 ...

Appendix B
Application guidance
 ...

Insurance finance income or expenses (paragraphs 87–92)
 ...
B129 Paragraphs 88–89 require an entity to make an accounting policy choice as to whether to disaggregate insurance finance income or expenses for the period between profit or loss and other comprehensive income. An entity shall apply its choice of accounting policy to portfolios of insurance contracts. In assessing the appropriate accounting policy for a portfolio of insurance contracts, applying paragraph 13 of AASB 108 Basis of Preparation of Financial StatementsAccounting Policies, Changes in Accounting Estimates and Errors, the entity shall consider for each portfolio the assets that the entity holds and how it accounts for those assets.
 ...

Appendix C
Effective date and transition
 ...

Effective date
 ...
C2B AASB 18 Presentation and Disclosure in Financial Statements issued in June 2024 amended paragraphs 91, 96, 103, B129 and C3. An entity shall apply those amendments when it applies AASB 18.

A footnote is added to 'AASB 108 Accounting Policies, Changes in Accounting Estimates and Errors;' in paragraph C3(a). New text is underlined.

   2 When it issued AASB 18 Presentation and Disclosure in Financial Statements in June 2024, the AASB changed the title of AASB 108 to Basis of Preparation of Financial Statements.

AASB 102 Inventories (July 2015)
Paragraph 39 is amended and paragraph 40H is added. New text is underlined and deleted text is struck through.

Disclosure
 ...
39 Some entities classify expenses by nature in the operating category of the statement of adopt a format for profit or loss in a way that results in amounts being presented disclosed other than the cost of inventories recognised as an expense during the period. Under this format, an entity presents an analysis of expenses using a classification based on the nature of expenses. In this case, the entity presents discloses the costs recognised as an expense for raw materials and consumables, employee benefits labour costs and other costs together with the amount of the net change in inventories for the period.

Effective date
 ...
40H AASB 18 Presentation and Disclosure in Financial Statements issued in June 2024 amended paragraph 39. An entity shall apply those amendments when it applies AASB 18.

AASB 107 Statement of Cash Flows (August 2015)
Paragraphs 6, 10, 12, 14, 16–18, 20, 31, 32, 35, 46