Reporting Standard HRS 310.0

Statement of profit or loss and other comprehensive income

General instructions

These instructions assist completion of Reporting Standard HRS 310.0 Statement of Profit or Loss and Other Comprehensive Income, which collects information relating to the licensed insurer’s profit or loss and other comprehensive income.

Reporting tables

Tables described in this reporting standard list each of the data fields required to be reported. The data fields are listed sequentially in the column order that they will appear in the reported data set. Constraints on the data that can be reported for each field have also been provided.

General accounting basis

Unless otherwise specifically stated, reporting insurers are to report in accordance with the relevant Australian Accounting Standards.

References to Australian Accounting Standards

Each item reported under this Reporting Standard aligns with the Accounting Standards made by the Australian Accounting Standards Board (AASB). The applicable AASB references are specified with each item. 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.

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 insurers for each reporting period on a private health insurer basis.

Units of measurement

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