Insurance company accounting intermediate
Course
Inhouse
Description
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Type
Course
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Methodology
Inhouse
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Class hours
1h
This course looks at: Traditional accounting GAAPs for insurers. Impact of IFRS on insurance accounting. Future development: IFRS 4 - Phase II: insurance contracts
About this course
None
Reviews
Course programme
- Traditional accounting GAAPs for insurers
- Impact of IFRS on insurance accounting
- Future development: IFRS 4 - Phase II: insurance contracts
- Overview of the life and non-life insurance business
- Insurers'' balance sheet and profit and loss
- Non life: unearned premium reserves, reserves for unexpired risks and claims reserves
- Life technical reserves, reserves for unallocated bonuses, and deferred acquisition costs
- European 1991 directive
- Problems with traditional accounting: lack of consistency and transparency
- IAS 39 & IFRS 7
- Marking to market insurance investments: ARFS and at fair value through P&L
- Accounting for derivatives and hedge accounting overview
- Discussion of insurers'' exposure to credit market squeeze
- IFRS 4 - Phase I
- Defining insurance contracts
- Shadow accounting of insurance liabilities
- Project status and review of Discussion Paper
- Measuring insurance liabilities based on (1) probability weighted expected cash flows, (2) current discount rates, (3) risk margin
- Expected industry reaction
Insurance company accounting intermediate