Report the value of liabilities, including allowance for acquisition costs arising in respect of policies. This method of disclosure differs from the Australian Accounting Standards.Liabilities, as defined by the Australian Accounting Standards, are present obligations of an entity arising from past events, the settlement of which is expected to result in an outflow from the entity of resources embodying economic benefits.Acquisition costs, as defined by the Australian Accounting Standards, are the fixed and variable costs of acquiring new business including commissions and similar distribution costs, and costs of accepting, issuing and initially recording policies. (Acquisition costs relate to the costs incurred in acquiring specific life insurance contracts during the relevant period. They do not include the general growth and development costs incurred by a life insurer.)