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Courses/Accounting & Tax/IFRS

Understanding IFRS 17 for UK Accounting & Tax Specialists

Comprehensive guide to mastering IFRS 17 for UK accounting and tax professionals.

Created byUKElite Accounting Training
BeginnerUpdated Jun 21, 2024
Understanding IFRS 17 for UK Accounting & Tax Specialists

What You'll Learn

check_circleUnderstand the necessity and historical context of IFRS 17 for insurance contracts.
check_circleAnalyze and apply the General Measurement Model, Variable Fee Approach, and Premium Allocation Approach.
check_circlePresent financial statements in compliance with IFRS 17, including required disclosures.
check_circleEvaluate the impact of IFRS 17 on insurer performance and key performance indicators.
check_circleIdentify and implement best practices for data collection, IT systems, and stakeholder communication to ensure IFRS 17 compliance.

About This Course

"Understanding IFRS 17 for UK Accounting & Tax Specialists" is an advanced course designed to provide a comprehensive understanding of the new International Financial Reporting Standard (IFRS) 17, which governs insurance contracts. This course is essential for professionals looking to stay ahead in the ever-evolving field of financial reporting. Participants will explore the necessity of IFRS 17, its historical context, and key definitions. Detailed modules will cover the General Measurement Model, Variable Fee Approach, and Premium Allocation Approach for measuring insurance contracts. Attendees will also learn about the presentation of financial statements, including the Statement of Profit or Loss and the Statement of Financial Position, along with required disclosures for transparency and comparability. The course will address the impact of IFRS 17 on insurer performance, focusing on changes from IFRS 4, performance metrics, risk adjustments, and discount rates. Implementation challenges and best practices will be discussed, supported by real-world case studies. Key topics include:

  • Transition from IFRS 4 to IFRS 17 and its implications.
  • Detailed analysis of the Building Block Approach and other measurement models.
  • Presentation and disclosure requirements under IFRS 17.
  • Impact on key performance indicators and insurer performance.
  • Best practices for data collection, IT systems, and stakeholder communication.

Your Instructors

UKElite Accounting Training
UKElite Accounting Training
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UKElite Accounting Training provides cutting-edge professional development courses tailored for accounting professionals across the United Kingdom. Our mission is to deliver top-tier education that equips accountants with the latest skills and knowledge needed to excel in their careers. Our expert instructors offer real-world insights and practical guidance across a wide range of accounting disciplines. With a commitment to excellence and continuous improvement, UKElite Accounting Training is your trusted partner in professional growth.

Emily Harrison
Emily Harrison

Accounting and Finance Expert

Dr. Emily Harrison is a distinguished academic with over 15 years of experience in the field of accounting and finance. She holds a PhD in Accounting from the London School of Economics and has published extensively on international financial reporting standards. Dr. Harrison has a keen interest in the impacts of regulatory changes on financial practices and regularly consults for major financial institutions in the UK.

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We are a registered provider with 327+ associations and regulatory bodies worldwide. We operate across 29 global markets including Canada, the US, Australia, and the UK. Every course page clearly displays its specific accreditations. Upon completion, you receive a professional certificate that can be validated online. Our certificates include all necessary accreditation details, credit hours, and completion dates, and are formatted specifically to meet the submission requirements of most global regulatory bodies.