Financial Sector (Collection of Data) determination No. 25 of 2005
Basis of preparationBasis of preparation
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Basis of preparation
Insurers are requested to follow the recognition and measurement basis required by the APRA forms for the reporting of premium revenue in this form. Specifically premium revenue that is recognised in GRF 310.1 Premium Revenue and Reinsurance Expense.
Where the insurers operations are wholly within Australia, total premium revenue per this form should agree to the aggregate of premium revenue disclosed in GRF 310.1 Premium Revenue and Reinsurance Expense.
Do not follow the recognition and measurement requirements for premium revenue contained in AASB 1023 ‘Financial Reporting for General Insurance Activities’.
Reporting period
Insurers are required to report the information in the reporting form on an annual basis.
- The annual information is to be completed in respect of the financial year of the insurer.
- The financial information requested in this form is to be reported as at the last day of the reporting period on a financial year to date basis of the insurer. See the Reporting Requirements table for details.