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Course Outline

Introduction

  • The journey from IFRS 4 to IFRS 17

Overview of IFRS 17

  • Key changes from IFRS 4 to IFRS 17

Insurance Contracts

  • Analysing an Insurance Contract
  • Isolating non-insurance components
  • Identifying insurance risk
  • Grouping contracts into units of account and portfolios

Financial Statements

  • Comprehending the General Measurement Model
  • Categorizing entries into blocks
  • Exploring alternative accounting models
  • Deconstructing a real-world financial statement

Measurement Approaches

  • Initial recognition
  • Subsequent measurement
  • The premium allocation approach

Managing Contract Types

  • Reinsurance contracts
  • Direct participation contracts
  • Discretionary participation contracts
  • Modified contracts
  • Derecognition of an insurance contract

Transitional Rules and Approaches

  • Fully retrospective approach
  • Modified retrospective approach
  • Fair value approach

Disclosures

  • Understanding the IFRS 17 disclosure framework
  • New data requirements
  • Additional compliance considerations

Transitioning to IFRS 17

  • Assessing the scope of an IFRS 17 transition
  • Establishing an implementation team
  • Formulating a transition plan
  • Developing and maintaining a schedule

Transparency and Profitability

  • Identifying and measuring insurance contract performance
  • Enhancing transparency in contracts and reporting
  • Boosting the profitability of an insurance company

Summary and Conclusion

Requirements

  • A solid grasp of fundamental accounting principles

Target Audience

  • Insurance providers
  • Controllers
  • Analysts
  • Actuaries
  • Auditors
  • Accountants and other finance professionals
 21 Hours

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