by Admin | Jun 17, 2022 | IFRS17 Simplified
IFRS 17 introduces the contract boundary concept to identify the cash flows which are relevant to measure the insurance contracts. Contract boundary distinguishes cash flows related to the existing insurance contracts from future contracts. When the insurance company...
by Admin | Mar 20, 2022 | IFRS17 Simplified
IFRS 17 provides guidance on presentation of financial statements, it specifies the line items which require to present in the face of the Financial position (Balance sheet). Insurance companies currently presenting their financial position in a very detailed level...
by Admin | Jan 20, 2022 | IFRS17 Simplified
The insurance companies have to prepare financial statements as per IFRS 17 for the financial years starting on or after 01/01/2023. Measurement of the insurance contracts under IFRS 17 is significantly different from current practice. Complexities may arise with...
by Admin | Mar 12, 2021 | IFRS17 Simplified
New Insurance contracts accounting standard IFRS 17 will be effective from 1st January 2023. This will make a significant change in current accounting practice used by insurance companies. Specially, Key performance indicators (KPIs) used earlier will not be...
by Admin | Mar 7, 2021 | IFRS17 Simplified
Contract boundary is the criteria to identify when the existing contract ends and a new contract begins. Cash flows within the boundary will be taken considered for the measurement as per IFRS 17. If there is no annual renewals, the contract boundary will be same as...
