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The IFRS-17 standard represents a fundamental shift in the financial reporting of insurance companies. This program is designed to provide you with an in-depth understanding of the standard, including a review of financial statement analysis mechanisms, insurance contract rules, and the practical implications of its implementation.
The insurance sector has long been a special case in terms of financial reporting, and the complexity of insurance – in terms of its long-term nature and the implied difficulty in defining “return” as found in any other business makes it different from others. The financial statements of the insurance company are different from any other statements. The year 2021 witnessed the start of the implementation of the new comprehensive standard issued by the International Standard Board No. 17 related to insurance contracts. This program is designed to explain the IFRS-17 standard, review the types of financial statement analysis, identify insurance contracts and their rules, in addition to clarifying the application mechanism and the implications of the application.
Insurance
Actuary
Finance +2
Actuary
Finance
Internal Audit
Risk Management
Accounting and Finance
Not Exist
Lecture
Case Studies +3
Lecture
Case Studies
Brainstroming
Practical Implementation
Dialogue Teams
Pre Exam
Post Exam
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This provides you with the opportunity to select the available times that suit you best for participation in our program. These times represent slots during which we are ready to welcome you and provide assistance and guidance.
In Class Training-Online Training
The Nature of International Financial Reporting Standards IFRS17
The Concept and Importance of IFRS 17
The Objectives of the International Standard IFRS 17
Implications for the applying of IFRS 17
Transition from IAS 4 to IFRS 17.
Case Studies
In Class Training-Online Training
The Nature, Concept and Importance of the Insurance Contracts
The Concept of Insurance Risks, Levels and Scope
Exceptions to the International Standard of Insurance
The General Accounting Model and Defining the Unit of Account
The Available Accounting Models
Curricula used for the International Standard for Insurance
Non-insurance Elements Contained in Insurance Contracts
Case Studies
In Class Training-Online Training
Levels of the General Model of the Standard and its Amendments
International Recognition of the Standard and Subsequent Measurement of the Standard
Present the Standard in the Comprehensive Income Statements
Insurance Premiums Allocating
Case Studies
In Class Training-Online Training
The Nature and Components of the Insurance Contracts
Retrospective Amendments to Contracts
The Basic Rules for Insurance Contracts
Accounting for Re-Insurance Contracts
Transformation Rules for the International Standard of Insurance
Define New Data Requirements for Compliance
Fair Value of Contracts
The Disclosure System Applied in the International Financial Reporting Standard
Case Studies
Familiarity with the radical changes that will occur in the financial statements and key performance indicators of insurance companies using IFRS 17 standard.
Identify the main requirements of the International Standard for Insurance Contracts IFRS 17 to discover the main differences between IAS 4 and IFRS 17 and their impact on the financial statements used.
Evaluation of the methods and schedule for the transition to the international standard for insurance contracts IFRS 17 and the stages of the general model of the international standard for insurance contracts and its subsequent measurement.
Reviewing the impact of applying the International Financial Reporting Standard IFRS 17 on the development of measurement, presentation disclosure and improving the quality of financial reports for insurance companies in the Kingdom of Saudi Arabi
