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A contract under which one party (the insurer ) accepts significant insurance risk from another party (the policyholder ) by agreeing to compensate the policyholder if a specified uncertain future event (the insured event ) adversely affects the …

An insurance contract that is not a life insurance contract . …

An insurance contract , or a financial instrument with a discretionary participation feature , regulated under the Life Insurance Act 1995 , and similar contracts issued by entities operating outside …

Definitions relating to hedge accounting …

Accounting policies are defined in paragraph 5 of AASB 108 Accounting Policies, Changes in Accounting Estimates and Errors , and the term is used in this Standard with the same …

The following terms are used in this Standard with the meanings specified: …

A financial instrument is any contract that gives rise to a financial asset of one entity and a financial liability or equity instrument of another …

A financial asset is any asset that is: (a) cash; (b) an equity instrument of another entity; (c) a contractual right: (i) to receive cash or another financial asset from another entity; or (ii) to exchange financial assets or financial liabilities with …

A financial liability is any liability that is: (a) a contractual obligation: (i) to deliver cash or another financial asset to another entity; or (ii) to exchange financial assets or financial liabilities with another entity under conditions that are …

An equity instrument is any contract that evidences a residual interest in the assets of an entity after deducting all of its liabilities. …