IFRS 17 Insurance Contracts - The Fundamentals

Member price in Scotland and Online Live: £144.50 + VAT
Non-member price in Scotland and Online Live: £170 + VAT

Member price in England: £268 + VAT
Non-member price in England: £315 + VAT

Please note, due to differences regarding external costs, courses outside of Scotland are priced separately.
ICAS members are eligible for a discounted price on all courses running in England & Wales

Timing in Scotland and Online Live: 2.00pm-5.15pm
Timing in England: 9.30am-12.45pm

Overview

IFRS 17 Insurance Contracts is the long awaited comprehensive standard on accounting for insurance contracts which is currently scheduled to apply for periods commencing on or after 1 January 2022. This half day course examines the fundamentals of the standard, focussing particularly on the General Measurement Model which is the core of the required accounting treatments. It contains practical illustrations of the workings of the standard.

What you will learn

On completion of the course you will be better able to:

• Identify which transactions are within the scope of IFRS 17
• Determine whether non-insurance elements require separation
• Understand the fundamentals of the General Measurement Model
• Apply the Premium Allocation Approach

Detailed course coverage will include

• Identification of insurance contracts
• The alternative models
• The General Measurement Model
  • Separation of non-insurance elements
  • Grouping of insurance contracts
  • Initial and subsequent measurement
  • Income statement amounts
  • Illustrative examples
• The Premium Allocation Approach
  • Circumstances for use
  • Illustration of accounting

Who should attend

The course is designed for anyone who requires an understanding of the scope and basic principles of IFRS 17. This will include those involved in the preparation or audit of financial information in entities which issue insurance contracts, and anyone else requiring an overview of the potential impacts of the new standard.

Questions?

BPP | Tel: 0330 060 3303 | Email: ldicas@bpp.com