IFRS 17, Insurance Contracts, is an international standard that sets forth new guidelines for insurance accounting, marking a significant departure from previous standards. It emphasizes transparency, comparability, and consistency in the financial reporting of insurance contracts, aiming to provide clearer insights into a company's financial health and risk exposure. This comprehensive contract boundaries IFRS 17 training course is designed to deepen participants' understanding of these updated standards, covering the purpose and importance of IFRS 17 as well as key principles that influence recognition and measurement approaches. Through this training, participants will gain the skills needed to analyze IFRS 17’s impact on financial statements, ensuring a solid foundation for future compliance.
In addition to foundational concepts, the course addresses essential areas such as initial recognition criteria, advanced measurement models, disclosure requirements, and transition methodologies. It also includes IFRS 9 integration, with a focus on financial instruments relevant to insurers, credit loss modelling, and updated hedge accounting standards. By the end of this training, attendees will be equipped to apply IFRS 17, optimize financial reporting practices, and navigate the complexities of insurance contracts. This course is ideal for insurance professionals, financial analysts, compliance officers, and auditors looking to stay at the forefront of insurance accounting standards.
By the end of this IFRS 17 Insurance Contracts training course, you will be able to:
- Determine what is IFRS 17, the purpose and importance of IFRS 17 in insurance accounting
- Track the evolution and key developments of IFRS insurance contracts
- Understand recognition criteria and measurement approaches for insurance contracts
- Understand the accounting methodology under IFRS 17 and its impact on financial statements
- Understand the IFRS 17 transition approaches and requirements in IFRS 17 and their implications for financial reporting
- Apply presentation and disclosure requirements in the financial statements
- Comprehend IFRS 9 transition requirements for insurance companies and the difference between IFRS 9 and IFRS 17
This IFRS 17 Insurance Contracts course is designed for a wide range of professionals who need to navigate the complexities of the IFRS 17 Insurance Contracts, including:
- Insurance Professionals
- Accounting and Financial Analysts
- Financial Managers and Controllers
- Regulators and Compliance Officers
- Consultants and Advisors
- Internal and External Auditors
- Educators and Trainers