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Accounting for insurance companies Logo cima

  BPP |   Free |   2017 |   CIMA Mastercourses

Who should attend? 

This one day course has been developed primarily for accountants and analysts who need to know more about the financial reporting of the activities of insurance companies. It may also be of interest to other professionals working with insurance groups.

What you will gain 

The financial reporting of insurance businesses has been an area of significant change in recent years, and both accountants and non-accountants within this industry need to understand the changes and how the accounting rules impact their roles.

This one-day course is designed to give participants an overview of the IFRS accounting rules for insurance groups (both life and non-life). There are no pre-requisites for the course, but a basic understanding of how the insurance industry operates, and the fundamental accounting rules would be helpful.

Programme outline

  • The mechanics of (and the players in) the insurance industry 
  • Format and presentation of insurers financial statements (income statement, balance sheet and cash flow statement) 
  • Non life: reserves for unearned premium, unexpired risks and claims 
  • Life: technical reserves, reserves for unallocated bonuses and deferred acquisition costs 
  • Accounting for investments: IAS 39 and IFRS 7 
  • Accounting for insurance contracts: IFRS 4 (1) and (2) 
  • Shadow accounting of insurance liabilities 
  • Industry accounting trends and latest developments
Topics covered:
  • Management accounting: Technical: Corporate finance & treasury management: Cash management, Intermediate