IFRS 17 Insurance Contracts
International Financial Reporting Standard 17
Overview of IFRS 17
- Issued: in 2017
- Effective date: 1 January 2023
- What it does:
- It establishes the principles for recognition, measurement, presentation and disclosure of insurance contracts.
- It introduces a few models for financial reporting of insurance contracts: general model, premium allocation approach, model for re-insurance contracts and other..
- It provides extensive guidance on accounting for insurance contracts.
Articles about IFRS 17
- Summary of IFRS 17 Insurance Contracts
- Example - initial measurement of insurance contracts In this practical article, you'll learn how to measure both onerour and profit-making insurance contracts on initial recognition. Also, there is a video at its end.
- IFRS 17 - 3 greatest misconceptions - top 3 false assumptions that people make in relation to IFRS 17.
Other Resources
- IFRS Kit - learn IFRS in 150+ videos, 150+ excel case studies, quizzes, certificates
- Expected Credit Loss for Accountants - highly specialized course focused on ECL under IFRS 9 with step-by-step example related to trade receivables, many practical insights included.
