IFRS 17 Introduction: Hands-On Training

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Author
Valerie Du Preez
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Our latest training course is now live - IFRS 17 Introduction - Hands OnTraining.

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The purpose of the course is to give you a basic understanding of the fundamentals underlying the IASB’s International FinancialReporting Standard17 (the Standard/IFRS 17) with the aim of enabling you to interpret the principal requirements within the context of an insurance company.

We will provide you with a high-level background to the Standard, including the rationale supporting the change the Standard is intended to bring. Important financial items and terminology will be covered, giving an overview of what these items represent and how they can be calculated.

We provide you with examples and hands-on calculations covering the key concepts introduced throughout the course.

TOPICS INCLUDE

Getting. Started
Key Actuarial & Accounting Concepts
Data Preparation & Modelling
Practical Application

Part 1 introduces The Basics, which includes:

  • An overview of what IFRS 17 is
  • The background to the Standard
  • Important Concepts
  • IFRS 17 Measurement Models

Part 2 introduces the IFRS 17 Framework:

2.1 introduces Data Preparation, which includes:

  • An overview of data required in the application of the Standard
  • Initial Considerations when setting actuarial assumptions
  • Determining discount rates
  • Risk adjustment values

2.2 introduces IFRS 17 Calculations:

  • An overview of IFRS 17 calculations

2.3 introduces key Disclosure Requirements

  • Setting up the balance sheet
  • Disclosures to the statements
  • Statement of profit or loss

Part 3 includes a Hands-on Practical Example, covering:

  • Performing initial recognition
  • Determining fulfilment cash flows
  • Performing reconciliations of company financials
  • Setting up the balance sheet
  • Disclosures to the statements
  • Statement of profit or loss

 

Part 4 concludes with a note on the high-level implications from the Standard on accounting for reinsurance contracts.

The penultimate chapter will provide a Course Summary, which briefly summarises all the chapters covered in the course.

Finally, the Appendix contains additional reading materials and references that could help students broaden their knowledge of IFRS 17.

For more information and to enrol, please click here. If you require corporate bulk subscriptions please contact us via email info@actuartech.com. 

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