This course will assist you to understand how to apply and interpret the new accounting standard, IFRS 17 Insurance Contracts. IFRS 17 is effective for annual reporting periods beginning on or after 1 January 2021.
IFRS 17 is a comprehensive IFRS Standard that establishes principles for the recognition, measurement, presentation and disclosure of insurance contracts and certain investment contracts with discretionary participation features. The Standard applies to any entity, both insurers and non-insurers, issuing these contracts.
Key topics:
- Key changes from existing practice
- Identifying an insurance contract
- Separating components from an insurance contract
- Recognition
- Measurement
- Future cash flows
- Subsequent measurement
- Amendments to the general approach in IFRS 17
- Premium allocation approach
- Reinsurance contracts held
- Investment contracts with discretionary participation features
- Presentation and disclosure
This course consists of one interactive online course, one downloadable PDF learning manual and one online assessment.
