This site uses cookies to store information on your computer. Some are essential to make our site work; others help us improve the user experience. By using the site, you consent to the placement of these cookies. Read our privacy policy to learn more.

Technical

IFRS Insurance Contracts Exposure Draft Logo cima

  Lincoln Miles |   Free |   BPP |   Aug 2016 |   01:00 h |   AICPA Store
Learning Objectives:

On completion of this course, you will have a greater understanding of:

  • The objective of the IFRS 4 project
  • The insurance accounting exposure draft
  • The issues created by the interaction of IFRS 9 and insurance accounting
  • The numerical application of the exposure draft

Course Duration: 1 hour
This course does not offer CPE credit but does count as CPD for CIMA members.

The development of accounting for insurance contracts has been underway for many years. The first stage in the process was IFRS 4, designed to achieve a greater consistency in reporting for insurance. The exposure draft takes the reporting further down that process. Using a building blocks approach to reporting, the exposure draft requires clear identification of the drivers of performance for those entities providing insurance contracts. The course also examines the challenges that will be created from IFRS 9 being effective a number of years before the effective date of the new insurance accounting standard. These challenges will be driven by the approach to measuring the financial assets and the financial liabilities associated with insurance contracts.

About the author:
Lincoln Miles is a financial reporting consultant and trainer specialising in IFRS, US GAAP and UK GAAP. He has worked as an auditor for PwC, has been a presenter and technical author for BPP and provides bespoke consultancy and training to companies throughout Europe.
Topics covered:
  • Management accounting: Technical: Financial accounting & reporting: Professional accounting standards, Foundational

Comments/Reflections