| Label: |
Acquisition Expenses Reported as a Movement in Policy Liabilities (i.e. Net Movement In DAC) |
| Concept Guidance: |
Report the value of amortization and impairment of existing deferred acquisition costs (DAC) related to the risk component of premiums acquired, less additional deferrals of acquisition expenses for life insurance (risk) components during the relevant period as per the Australian Accounting Standards.
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| Form-Specifc Guidance: |
Abnormal operating expenses are not to be excluded or shown separately, but included in the relevant category. Report only the amounts recognised as movements in policy liabilities.
Note that amounts are as per AASB 138, and not offset by any initial fee revenue.
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