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Course Outline
Introduction
- The journey 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
- 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
- Modified retrospective
- Fair value
Disclosures
- Understanding the disclosure framework under IFRS 17
- 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
- Developing 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 basic accounting principles.
Target Audience
- Insurance providers
- Controllers
- Analysts
- Actuaries
- Auditors
- Accountants and other finance professionals
21 Hours
Testimonials (3)
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
Experience and provide necessary information to the topics