IFRS 17: Accounting for Insurance Contracts - Challenges, Measurement Models, and Implementation
Gain insight into the differences in recognition, measurement, presentation, and disclosure of insurance contracts, and why a more specific standard was necessary for this unique asset class.
With a focus on the challenges of accounting for insurance contracts, we'll explore the types of contracts covered under IFRS 17, including insurance, reinsurance, and investment contracts with discretionary participation features. Dive into the two main measurement models and the method for allocating insurance acquisition cash flows, as well as the key terms of the contract asset, such as future cash flows, discount rates, and risk adjustments.
Discover the factors to consider when determining discount rates and how to apply risk adjustments to compensate for uncertainty arising from non-financial risks. Learn about the contractual service margin and how it represents unearned profit recognized as insurance contract services are provided in the future.
Our experienced instructor will use practical examples to demonstrate the application of IFRS 17, including calculating the present value of future cash flows, estimating risk adjustment, and determining contractual service margins. Gain a comprehensive understanding of the standard and its implementation, making you a valuable asset to any organization.
Principal, CPAMADEASIER
Kimaya Shah is the Principal Owner of CPAMADEASIER, a Toronto-based business she founded in 2018 to help candidates succeed in the CFE exam. With over 5 years of experience in this role, Kimaya guides candidates through their journey starting from university, PEP, and Capstone. Prior to starting her own business, she spent 6 years as a Finance and Operations Associate at Harvest Portfolios Group in Oakville. Before that, she was a Derivative Administrator at RBC Dexia Investor Services for 6 years and 7 months, based in Toronto. Kimaya's experience in finance and her passion for helping others achieve their goals make her a valuable asset to the accounting community.
Podcast Host | LearnFormula
Business Solutions Manager from October 2019 to present Area Manager - Workforce Solutions Rural Capital Area from May 2019 to October 2019. Responsible for directing the efforts of an 8 person Business Consulting Team for the nine-county Rural Capital Area (the 9 counties that surround Austin (Travis). Deliver business services to more than 10,000 employers annually including access to grants, pandemic funding, training, recruitment and retention strategies and more. Work closely with other Workforce Boards, Texas Veterans Commission and Texas Vocational Rehabilitation Services. Established the Rural Capital Neurodiversity Project with VR partners. As a USAF veteran I closely support TVC intiatives and have two TVC Business Reps working with my team to serve our veterans and their families. Directing the efforts of the WSRCA Hiring Red, White and You Career Event both online and in Round Rock and San Marcos. After 10 years of growing Cross-Post LLC from zero to more than 250 clients we sold the company to Recruitology (Aftercollege Inc), Previously as CEO and co-founder of Cross-Post LLC, I was responsible for assisting 250+ newspaper clients like The Washington Post, The Seattle Times and the Milwaukee Journal Sentinel in offering recruitment products that grow revenue while helping their employer/advertisers fill distinct needs. These are unique upsell or add-on products that employers want and need. In all we had fifteen niche recruitment networks from Trucking to Healthcare, partnering with the leading job boards in the space. Recruitology continue's serving our former clients. Developed some of the first internet job boards in 1996 focusing on recruiting women, minorities and veterans. Sold that company to DiversityInc Magazine in 2001 and remained as their President of the Careers Division until 2003 growing it to more than 4,000 clients. Formerly, SVP of Strategic Recruitment for The Inclusiv Group, a retained executive search firm. 30 year history in recruiting and business development working for companies like Emerson Electric, The St. Paul Travelers and Borden.
