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Course Outline

Introduction

  • The path from IFRS 4 to IFRS 17.

Overview of IFRS 17

  • Changes from IFRS 4 to IFRS 17.

Insurance Contracts

  • Interpreting an insurance contract.
  • Separating non-insurance components.
  • Identifying insurance risk.
  • Grouping contracts into accounting units and portfolios.

Financial Statements

  • Understanding the General Measurement Model.
  • Grouping entries into blocks.
  • Other 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 disclosure regime in IFRS 17.
  • New data requirements.
  • Other compliance issues.

Transitioning to IFRS 17

  • Assessing the scope of an IFRS 17 transition.
  • Establishing an implementation team.
  • Preparing a transition plan.
  • Creating and maintaining a schedule.

Transparency and Profitability

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

Summary and Conclusion

Requirements

  • A foundational understanding of basic accounting principles.

Target Audience

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

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