Name: IFRS 17: Insurance Contracts
Price: 121 AUD
Rating: 4.5 (124 reviews)

What You'll Learn

check_circleUnderstand the key principles and requirements of IFRS 17: Gain a comprehensive understanding of the objectives, scope, and fundamental concepts of the International Financial Reporting Standard (IFRS) 17, including the measurement models, presentation, and disclosure requirements.

check_circleIdentify the impacts and challenges of transitioning to IFRS 17: Explore the potential challenges and complexities involved in transitioning from existing insurance accounting practices to the new IFRS 17 framework. Analyze the implications for financial statements, systems, processes, and data requirements.

check_circleApply the measurement and recognition principles of IFRS 17: Learn how to apply the principles of IFRS 17 to measure and recognize insurance contracts, including the identification of insurance components, measurement of contractual cash flows, and estimation of insurance liabilities.

check_circleInterpret and analyze IFRS 17 financial statements: Develop the skills to interpret and analyze financial statements prepared under IFRS 17, including the assessment of insurance contract revenue, expenses, and profit or loss recognition. Understand the presentation and disclosure requirements to effectively analyze the financial performance and position of an insurance entity.

check_circleExplore the strategic implications and opportunities under IFRS 17: Gain insights into the strategic implications of IFRS 17 and identify potential opportunities that may arise from the adoption of the new accounting standard. Understand how to leverage the changes in reporting requirements to enhance business decisions, risk management, and investor communication.

About This Course

IFRS 17 is a new accounting standard that introduces significant changes for insurers in the way they account for insurance contracts. This course provides a comprehensive understanding of IFRS 17 and its impacts on financial reporting for insurance companies.

Participants will learn about the major components of IFRS 17, including measurement models, reporting implications, policy changes, compliance requirements, system implementation challenges, and overall benefits. The course aims to equip participants with the expertise needed to navigate the complexities of IFRS 17 and ensure compliance within their organizations.

Topics List:

Overview and Objectives of IFRS 17
Key Changes from IFRS 4 to IFRS 17
Measurement Components of Insurance Contracts
Liability for Remaining Coverage (LFRC)
Liability for Incurred Claims (LFIC)
Asset for Insurance Contract Fulfillment (AFRC)
Acquisition, Renewal, and Incremental Costs (ARIC)
General Measurement Model (GMM)
Variable Fee Approach (VFA)
Premium Allocation Approach (PAA)
Impact on Profit and Loss and Balance Sheet
Contract Grouping and Onerous Contracts
Reinsurance Accounting under IFRS 17
Transition Strategies and System Integration
Implementation Challenges and Data Requirements
Reporting Enhancements and Key Financial Ratios
Regulatory and Industry Perspectives on IFRS 17
Best Practices for Compliance and Risk Management

Your Instructors

Althea Mothersill, MBA, CPA

Controller | LEGACY Supply Chain Services

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star124 reviews

With more than twenty years experience in the accounting profession, Althea Mothersill has worked at and managed multiple million-dollar companies in the Caribbean and Canada. She has worked in various industries including hospitality, banking, captive finance and logistics. In her current role as Controller and a member of her company’s executive leadership team, Althea oversees multiple lines of businesses in Canada and the United States. During her stewardship revenue has increased by 48% over the last three years. Althea leads diverse and cross-functional teams and enjoys coaching and mentoring aspiring accounting professionals.  Althea holds a MBA from Manchester Business School, UK (with Distinction) and a BSc (Hons) in Accounting and International Relations (Double Major) with the University of the West Indies. She is also a designated accountant in both Canada and the US, Althea has received many awards and accolades including Accountant of the Year with Sandals Resorts International. She is a wife and mother to her greatest accomplishment Zane.

Nicole Pettes

Podcast Host | LearnFormula

Nicole Pettes is a highly experienced podcast host known for her engaging interview style and ability to draw out the best in her guests. She has hosted a diverse range of podcasts and video interviews that explore a wide variety of topics. Currently, Nicole is a Video Podcast Host with Learn Formula, where she contributes to their professional education series. She also hosts the Anxious & Ambitious podcast, which explores personal growth and mental health, and co-hosts the Podcast Guesting For Profit, which helps entrepreneurs and podcasters succeed as podcast guests.

Frequently Asked Questions

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IFRS 17: Insurance Contracts

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