Course description
Overview
IFRS 17, also known as the International Financial Reporting Standard 17, is a global accounting standard developed by the International Accounting Standards Board (IASB) that governs the accounting treatment of insurance contracts. This specialized course is designed to provide finance professionals, actuaries, accountants, auditors, and business leaders with a comprehensive understanding of IFRS 17 and its implications for insurance contract accounting.
IFRS 17 applies to all insurance contracts issued, including reinsurance. IFRS 17 also applies to certain investment contracts with discretionary participation. The standard does not relate only to insurance companies, but all entities engaging in insurance contracts. IFRS 17 in principle transfers all the principles from IFRS 4 to identify an insurance contract.
Participants will learn how to apply IFRS 17 principles and requirements to accurately account for insurance contracts in financial statements. The course covers techniques for identifying insurance contracts, determining contract boundaries, and assessing the expected cash flows and insurance contract liabilities.
Furthermore, the course examines the presentation and disclosure requirements of IFRS 17, including the format and content of insurance contract-related disclosures in financial statements. Participants will learn how to prepare comprehensive and transparent disclosures to provide stakeholders with meaningful information about insurance contracts and their financial implications.
Overall, the IFRS 17 course empowers participants with the knowledge and skills necessary to understand, interpret, and apply IFRS 17 effectively in insurance contract accounting. By mastering these essential concepts and techniques, participants can enhance their ability to comply with global accounting standards, accurately report insurance contract transactions, and make informed financial decisions based on transparent and reliable financial information in the insurance industry.
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Global Business Advisors
GBA the name highlights as a one-stop for diversified training. We are one of the most upcoming UK-based training companies offering extensive training with a wide range of training courses. We are based in the UK with venues across the...