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
- Interpreting an Insurance Contract
- Isolating non-insurance components
- Identifying insurance risk
- Grouping contracts into accounting units and portfolios
Financial Statements
- Grasp of the General Measurement Model
- Categorizing entries into blocks
- Alternative accounting models
- Analyzing a real-world financial statement
Measurement Approaches
- Initial recognition
- Subsequent measurement
- 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
- Assembling an implementation team
- Drafting a transition plan
- Establishing and maintaining a project 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 foundational understanding of accounting principles
Target Audience
- Insurance companies
- Controllers
- Analysts
- Actuaries
- Auditors
- Accountants and other finance professionals
Testimonials (5)
Good communication, open for discussion, kept it interesting and engaging
Ahmet Keyman - Keytrade AG
Course - Management Accounting and Finance for Non-Finance Professionals
Experience of the trainer and his way of conveying the content
Roggli Marc - Bechtle Schweiz AG
Course - FinOps
The trainer did not leave a single minute unexploited! He was up a storm throughout every lesson and provided much material for whatever he dealt with.
Elpida - Unemployed
Course - Anti-Money Laundering (AML) and Combating Terrorist Financing (CTF)
The pricing strategies. Need to have more real case examples on the strategies and the pricing methods.
Ruziham A Razak - Telekom Malaysia Berhad
Course - A Practical Guide to Successful Pricing Strategies
Personal service and orientated to my needs