333 definitions found
AASB 138
Definition
8[13]
Useful life is: (a) the period over which an asset is expected to be available for use by an entity; or (b) the number of production or similar units expected to be obtained from the asset by an …
AASB 136
Definition
Aus6.2
The following terms are also used in this Standard with the meaning specified. …
AASB 136
Definition
Aus6.2[1]
A not-for-profit entity is an entity whose principal objective is not the generation of profit. A not-for-profit entity can be a single entity or a group of entities comprising the parent and each of the entities that it …
AASB 1023
Definition
19.1[1]
attachment date means, for a direct insurer, the date as from which the insurer accepts risk from the insured under an insurance contract or endorsement or, for a reinsurer, the date from which the reinsurer accepts risk from the direct insurer or another …
AASB 1023
Definition
19.1[2]
cedant means the policyholder under a reinsurance contract …
AASB 1023
Definition
19.1[3]
claim means a demand by any party external to the entity for payment by the insurer on account of an alleged loss resulting from an insured event or events, that have occurred, alleged to be covered by an insurance …
AASB 1023
Definition
19.1[4]
claims expense means the charge to the statement of comprehensive income for the reporting period and represents the sum of claims settled and claims management expenses relating to claims incurred in the period and the movement in the gross outstanding …
AASB 1023
Definition
19.1[5]
claims incurred means claims that have occurred prior to the end of the reporting period, whether reported or unreported at the end of the reporting …