PET - Plain English Taxonomy

Attribute:	PL17517
Concept:	Expense Operating Acquisition Costs Deferred Net Movement Amount
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.
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.

Dimensions

Dimension	Member	Description
LifeFundSegmentsDimension	(GeneralFundEliminations)	Life companies and friendly societies are required to segregate their business activities into that which is conducted for life insurance and that which is for internal operations of the company. This dimension identifies these business segments. The information reported represents the general fund eliminations of the reporting entity. Report the transactions between the general fund and statutory funds of the reporting life company, or between the general fund and approved benefit funds of the reporting friendly society.The general fund represents the business activities of the entity, other than those within the statutory funds of life companies and approved benefit funds of friendly societies.

Dimension

Member

Description

LifeFundSegmentsDimension

(GeneralFundEliminations)

Life companies and friendly societies are required to segregate their business activities into that which is conducted for life insurance and that which is for internal operations of the company. This dimension identifies these business segments.
The information reported represents the general fund eliminations of the reporting entity. Report the transactions between the general fund and statutory funds of the reporting life company, or between the general fund and approved benefit funds of the reporting friendly society.The general fund represents the business activities of the entity, other than those within the statutory funds of life companies and approved benefit funds of friendly societies.