Ifrs 17 Insurance Contracts
Tags: IFRS
Understanding The Basic Framework OF The Standard
Last updated 2022-01-10 | 3
- IFRS 17- Insurance Contracts - Effect Of Financial Statements
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What you'll learn
* Requirements
* Student of IFRS or Professional In Insurance SectorDescription
The practice of running an insurance business will undergo immense change post-implementation of IFRS 17.
The dynamics of the standard will significantly influence practically every function of the insurance company, in particular, the finance function. Understanding the requirements imposed by the standard is incredibly critical not only for the insurance companies but also for analysts and investors since these will have a profound influence on the meaningful readability of the financial statements.
Analyzing above this "e program" endeavours to present the complex contents of the standard in a simple picturesque format which should facilitate not only easy understanding but also aid in long-term retention of the concepts.
The program is recommended for students of IFRS and more for working professionals, investors and analyst who wish to understand the "Accounting Aspects" of the standard.
However, note that the topic in itself is extremely complicated and comprehensive, therefore in the course, an attempt is made to explain "THE BASIC FRAMEWORK ONLY" about the standard.
Please Note: The course DOES NOT contain numerical/practical examples.
Who this course is for:
- Professionals In Insurance Industry, Students Of IFRS & IAS, Investors and Analysts
Course content
7 sections • 9 lectures
Introduction Preview 03:44
What is an Insurance Contract ?
Which types of uncertainties does an Insurance Contract deal with ?
What are cases which will NOT be considered as "Insurance Contracts"?
Lecture 2 Preview 09:59
Key Concepts
Portfolio Of Insurance Contracts
Grouping Criteria
Contractual Service Margin
Example
Other Than Financial Risk
Risk Adjustment For Non-Financial Risk
Lecture 3 Preview 07:40
Initial Recognition Of Insurance Contracts
Initial Measurement Of Insurance Contracts
Fulfilment Cash Flows
Probability Criteria
Lecture 5A Preview 04:06
Subsequent Measurement Of Insurance Contracts
Lecture 5B Preview 06:13
Measure the contractual service margin as of the end of the reporting period
When a contract does not have a direct participation feature
When to use Premium Allocation Approach
Lecture 5C Preview 06:04
3 Models
Building Block Approach (General Model)
Variable Fee Approach
Premium Allocation Approach
Lecture 6 Preview 07:00
Modification Of Insurance Contracts
Derecognition Of Insurance Contracts
Accounting Policy Change
Informational Data
Lecture 7 Preview 15:05
Disclosure Requirements