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Assumptions in insurance claims and quantifying losses: An Expert's view Insight

Quantification of losses in insurance claims often rely upon assumptions instructed or adopted by an expert.

Alex Bell
Darryn Hockley
Joseph Box
| 8 min read | 28 Mar 2023
Impacts of amendments to AASB 116 Technical Accounting Alert | TA 2023-4

AASB 2020-3 amends AASB 116 to prohibit entities from deducting from the cost of an item of Property, Plant and Equipment, any proceeds from selling items produced while bringing property, plant and equipment to the location and condition necessary for it to be capable of operating in a manner intended by management. Instead, these proceeds and related costs are required to be recognised in profit or loss.

Owen Carew
| 9 min read | 23 Mar 2023