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Duration 21 hours
Course Outline
Introduction to IFRS 17
- Objectives and coverage of IFRS 17
- Fundamental concepts and terminology
- Differentiation from IFRS 4
Accounting for Insurance Contracts under IFRS 17
- Recognizing and categorizing insurance contracts
- Accounting units and portfolio-level considerations
- Distinguishing between insurance and non-insurance elements
Measurement Frameworks
- General Measurement Model (GMM)
- Premium Allocation Approach (PAA)
- Variable Fee Approach (VFA)
Financial Reporting and Disclosure
- Presentation of insurance contracts within financial statements
- Disclosure obligations specified in IFRS 17
- Data and system needs for meeting compliance standards
Evaluating the Effects of IFRS 17
- Influence on financial results and profitability
- Impact on insurers’ capital structure and risk management strategies
- Examination of IFRS 17 implementation examples
Implementation Hurdles and Optimal Practices
- Operational and technological obstacles
- Inter-departmental cooperation and governance structures
- Insights gained from early implementers
Sustaining Compliance and Long-Term Viability
- Keeping pace with changing standards
- Tracking contract performance in line with IFRS 17
- Strategic moves to enhance transparency and market competitiveness
Recap and Recommended Next Steps
Requirements
- A solid grasp of fundamental accounting principles
- Familiarity with financial statements and reporting processes
- Background knowledge in insurance or financial services is advantageous
Target Audience
- Insurance companies
- Financial Controllers
- Financial Analysts
- Actuaries
- Auditors
- Accountants and finance specialists
Testimonials (4)
How to manage business financials
surprise mtileni - Hatima Holdings (Pty) ltd
Course - Learning Xero
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.
