Document ID: chunk:federal_register_of_legislation:F2023L00629:body:0:p9
Version: federal_register_of_legislation:F2023L00629
Segment Type: other
Provision Reference: 
Character Range: 21962–25026

liabilities

Item 15    Item 15, insurance contract liabilities, is a derived item and is calculated as the sum of item 15.1 and item 15.2.

           Report this item in accordance with AASB 17 Appendix A, AASB 17.78 (b), AASB 17.100 and AASB 101.54 (ma).

           This item aligns with item 18 of GRS 300.0.
Item 15.1  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

           This item aligns with item 18.1 of GRS 300.0.
Item 15.2  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.

           This item aligns with item 18.2 of GRS 300.0.

16.   Reinsurance contract liabilities

Item 16    Item 16, reinsurance contract liabilities, is a derived item and is calculated as the sum of item 16.1 and item 16.2.

           Report this item in accordance with AASB 17 Appendix A, AASB 17.78 (d) and AASB 101.54 (ma).

           This item aligns with item 19 of GRS 300.0.
Item 16.1  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.

           This item aligns with item 19.1 of GRS 300.0.
Item 16.2  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.

           This item aligns with item 19.2 of GRS 300.0.

17.   Investment contract liabilities

Item 17  Report investment contract liabilities.

         Report this item in accordance with AASB 101.54 (m).

         This item aligns with item 17 of GRS 300.0.

18.   Other financial liabilities

Item 18  Report other financial liabilities.

         Report this item in accordance with AASB 132.11 and AASB 101.54 (m) Disclosure.

         This item aligns with item 21.1 of GRS 300.0.

19.   Other non-financial liabilities

Item 19  Report other non-financial liabilities.

         This item aligns with item 21.2 of GRS 300.0.

20.   All other liabilities

Item 20  Report all other liabilities.

21.   Total liabilities

Item 21  Item 21, total liabilities, is a derived item and is calculated as the sum of:

                   item 15;
                   item 16; and

                   items 17 to 20 inclusive.

         Report this item in accordance with AASB 101.55 Disclosure.

         This item aligns with item 26 of GRS 300.0.