Search Definitions

A forecast transaction is an uncommitted but anticipated future transaction. …

A hedging instrument is a designated derivative or (for a hedge of the risk of changes in foreign currency exchange rates only) a designated non-derivative financial asset or non-derivative financial liability whose fair value or cash flows are expected …

A hedged item is an asset, liability, firm commitment, highly probable forecast transaction or net investment in a foreign operation that (a) exposes the entity to risk of changes in fair value or future cash flows and (b) is designated as being hedged ( …

Hedge effectiveness is the degree to which changes in the fair value or cash flows of the hedged item that are attributable to a hedged risk are offset by changes in the fair value or cash flows of the hedging instrument (see Appendix A paragraphs …

This Standard uses the following terms with the meanings specified: …

The policyholder under a reinsurance contract . …

A contractual component that is not accounted for as a derivative under AASB 9 and would be within the scope of AASB 9 if it were a separate …

An insurance contract that is not a reinsurance contract . …

A contractual right to receive, as a supplement to guaranteed benefits , additional benefits: (a)             that are likely to be a significant portion of the total contractual benefits; (b)             whose amount or timing is contractually at the …

Fair value is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. (See AASB 13 …