IFRS standards are established in order to have a common accounting language, so business and accounts can be understood and compared from company to company and from country to country. IFRS 4 explains how to disclose insurance contracts, but to put it simple, there are too many issues with IFRS […]
Tag: IFRS17
The transition timelines
Official implementation process IFRS 17 is effective from the beginning of 2022 (taking into account the year delay) which means you have to report IFRS 17 numbers from the quarterly reports from Q1 2022. Not every company has Quarterly reports, but if the insurer does have quaterly reports and discloses […]
The new IFRS 17 disclosure in short
Insurers need to disclose information regarding the balance sheet, income statement, changes in equirty, cash flow statement and extra explanatory information. IFRS 17 has impact on all parts, here we will focus on the balance sheet, income statement and changes in equity
IFRS 17 model summarized
Insurers need to implement IFRS 17 in 2022 and this standard contains different measurement models, important guidelines and new definitions. We will summarize the basics of grouping and the different measurement models in this article. The IFRS 17 grouping: Insurers need to disclose information bases on group of contracts. A group […]