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