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Mastering IFRS for Insurance Contracts; A Step-by-Step Self-Assessment Guide

Mastering IFRS for Insurance Contracts; A Step-by-Step Self-Assessment Guide

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Mastering IFRS for Insurance Contracts: A Step-by-Step Self-Assessment Guide



Course Overview

This comprehensive course is designed to provide participants with a thorough understanding of the International Financial Reporting Standards (IFRS) for insurance contracts. Through interactive and engaging lessons, participants will gain the knowledge and skills needed to apply IFRS principles in real-world scenarios.



Course Objectives

  • Understand the fundamental principles of IFRS for insurance contracts
  • Apply IFRS standards to insurance contracts in various scenarios
  • Analyze and interpret financial statements of insurance companies
  • Identify and address common challenges in implementing IFRS for insurance contracts
  • Develop skills in preparing and presenting financial reports in accordance with IFRS


Course Outline

Module 1: Introduction to IFRS for Insurance Contracts

  • Overview of IFRS and its relevance to insurance contracts
  • Key principles and concepts of IFRS for insurance contracts
  • Scope and applicability of IFRS for insurance contracts

Module 2: Insurance Contracts under IFRS 17

  • Overview of IFRS 17 and its requirements for insurance contracts
  • Definition and scope of insurance contracts under IFRS 17
  • Recognition and measurement of insurance contracts under IFRS 17

Module 3: Measurement of Insurance Contracts

  • Fair value and cash flow measurement of insurance contracts
  • Discounting and interest rates for insurance contracts
  • Risk adjustment and uncertainty in insurance contracts

Module 4: Revenue Recognition under IFRS 15

  • Overview of IFRS 15 and its requirements for revenue recognition
  • Definition and scope of revenue under IFRS 15
  • Recognition and measurement of revenue under IFRS 15

Module 5: Accounting for Premiums and Claims

  • Recognition and measurement of premiums and claims
  • Accounting for premium revenue and claim expenses
  • Deferred acquisition costs and other insurance-related expenses

Module 6: Reinsurance and Other Insurance Contracts

  • Overview of reinsurance and other insurance contracts
  • Recognition and measurement of reinsurance contracts
  • Accounting for reinsurance premiums and claims

Module 7: Disclosure Requirements under IFRS

  • Overview of disclosure requirements under IFRS
  • Disclosure requirements for insurance contracts under IFRS 17
  • Disclosure requirements for revenue recognition under IFRS 15

Module 8: Implementation Challenges and Best Practices

  • Common challenges in implementing IFRS for insurance contracts
  • Best practices for implementing IFRS for insurance contracts
  • Lessons learned from real-world examples

Module 9: Case Studies and Group Discussions

  • Real-world case studies of insurance companies implementing IFRS
  • Group discussions and analysis of case studies
  • Application of IFRS principles to real-world scenarios

Module 10: Final Assessment and Certification

  • Final assessment of participant's knowledge and understanding
  • Certification of completion issued by The Art of Service
  • Lifetime access to course materials and community support


Course Features

  • Interactive and engaging lessons with real-world examples and case studies
  • Comprehensive and up-to-date content covering the latest IFRS standards and developments
  • Expert instructors with extensive experience in IFRS and insurance contracts
  • Certification of completion issued by The Art of Service upon completion of the course
  • Lifetime access to course materials and community support
  • Flexible learning with mobile-accessible and user-friendly course platform
  • Community-driven with discussion forums and group discussions
  • Actionable insights and hands-on projects to apply IFRS principles in real-world scenarios
  • Bite-sized lessons with manageable chunks of information
  • Gamification and progress tracking to motivate and engage participants


Who Should Take This Course

  • Accountants and financial professionals working in the insurance industry
  • Insurance companies and organizations implementing IFRS for insurance contracts
  • Regulatory bodies and auditors overseeing insurance companies
  • Anyone interested in learning about IFRS for insurance contracts
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