Division Units of measurement - Financial Sector (Collection of Data) (reporting standard) determination No. 123 of 2023 - Units of measurement

Units of measurementUnits of measurement

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Turn the raw legal text into a practical explanation grounded in Financial Sector (Collection of Data) (reporting standard) determination No. 123 of 2023.

Units of measurement

Report values in this Reporting Standard in whole Australian dollars (AUD) with no decimal place.

Convert amounts denominated in foreign currency to AUD in accordance with AASB 121 The Effects of Changes in Foreign Exchange Rates.

Report losses and expenses as negative values.

Columns for the Statutory Fund

Columns 1 to 13	Report the amount by APRA product group for Australia - Ordinary Business.
Columns 14 to 26	Report the amount by APRA product group for Australia - Superannuation Business
Columns 27 to 39	Report the amount by APRA product group for Overseas - All business
Column 40	Report the amount for unallocated items.
Columns 1 to 40 (Total)	The total amount is a derived column and is calculated as the sum of columns 1 to 40 inclusive.

Insurance revenue

Item 1	Item 1 insurance revenue is a derived item calculated as the sum of items 1.1 to 1.4 inclusive.Report this item in accordance with AASB 101.82 (a) (ii) Disclosure, AASB 17.80 (a) and AASB 17.83.
Item 1.1	Report insurance revenue from life insurance direct business.
Item 1.2	Report insurance revenue from life investment direct business.
Item 1.3	Report insurance revenue from inwards reinsurance.
Item 1.4	Report insurance revenue from non-life insurance business.

Insurance service expense

Item 2	Item 2 insurance service expense, is a derived item calculated as the sum of items 2.1, 2.2, 2.3 and 2.4. inclusive.Report this item in accordance with AASB 101.82 (ab) Disclosure, AASB 17.80 (a) and AASB 17.84.
Item 2.1	Item 2.1 represents insurance service expense from life insurance direct business.Item 2.1 is a derived item and is calculated as the sum of items 2.1.1 to 2.1.6 inclusive.