HARMONISATION AND REGULATORY: BEST PRACTICE FOR INSURANCE PRACTITIONAL

This insurance course is designed to help kick off the processes related to harmonization carve out and regulatory requirement. It is aimed at not only preparers and users of accounts but also implementation team members and will help them get to grips with financial statement by providing, at the very least, initial working knowledge of the rules, how the numbers are constructed and presented and the story that they are telling.

CONTENT

• Harmonization Carve-Outs and Regulatory Requirements
• Presentation of Financial Statements (IAS 1)
• Title of the Financial Statements Reporting
• Frequency of Reporting
• Line Items in Statement of Financial Position
• Description of Line Item in Statement of Financial Position
• Classification of Current/non-current items
• Disclosure of Sub-classification of line items
• Disclosure of Elements of Equity
• Financial Statements of Composite Insurers
• Presentation of all Items of Income and expense Recognized in a Period (IAS 1)
• Expense Classification: (IAS 1)
• Income Tax relating to each component of other comprehensive Income (IAS 1)
• Analysis of Other Comprehensive Income (IAS 1)
• Disclosure on Dividends (IAS 1)
• Presentation of the Performance of Life Business
• Presentation of Statement of Cash Flows Property, Plant and Equipment (IAS 16)
• Depreciation Property, Plant and Equipment Property, Plant and Equipment without Perfected Title Documents Investment Properties (IAS 40)- Measurement after recognition
• Basis of Determination of Fair Value
• The Effect of Foreign Exchange Rates (IAS 21)- Presentation Currency
• Consolidations and Separate Financial Statement (IAS 27)
• Measurement After Recognition
• Interests in Joint Venture and Associates (IAS 28) Basis of Consolidation
• Separate Financial Statements of the venture
• Financial Instruments:
• Recognition and Measurement (IAS 39/ IFRS 9) Insurance Premium Receivable
• Non-Current Assets held For Sale and Discontinued operations (IFRS 5)
• Financial Instruments: Disclosure (IFRS 7) – Disclosure of categories of Financial assets and Financial Liabilities
• Information about the nature and the risks arising from Financial Instruments
• Sensitivity Analysis (IFRS 7)
• Capital Management
• General Regulatory Requirement Other Issues