@@CPDbox that would be great! Conceptually revenue and releases from the LRC / CSM are new to all of us! It is very important to keep the journal entries in mind
Thank you for doing this video. Just a quick question if you don’t mind. Which the changes made to presentation, how will comparisons to historical statements be facilitated? It would appear that the financial statements are now incomparable. Would you be able to share any insights and if maybe your courses provide some guidance on how to proceed?
@@CPDbox First, I would like to thank you very much for your straightforward explaining of IFRS, you really let me understand them easily and smoothly. Secondly, I would like to ask you If don’t mind to pos a video about IAS23 borrowing cost. Many thanks.
Thank you for this wonderful video. @10:04 When you are analysing an insurance company, what do you want to see as a good thing for the LRC and LIC? Should LRC be greater than LIC? I noticed the financial statement for the resinsurance business (The company does insurance and reinsurance), for reinsurance its called ASSETS for Remaining Coverage and AMOUNTS RECOVERABLE for Incurred Claims. Why is this? Is there a way to contact you by email to send you the financial statement and learn more?
They are accounted for in the same way as explained in the video, just opposite signs (and opposite booking debit/credit wise) Many insurance companies lower their risk by having reinsurance programs and lower solvency requirements. So if I am an insurer and you are the policyholder and pay me CU 100 to insurer your house for a one year coverage. Then I could hold all the risk related to your house by myself or I could share some of that risk with a reinsurance company depending on risk appetite and solvency requirements. In this case I will share my risk with reinsurance company because I know you live close to water and I believe there is a higher risk related to your house insurance policy. For me that means I would also give up some of my profit from your policy but if a claim happen I would be reimbursed by my reinsurance program. I hope it makes sense.
![IFRS 17: What are the measurement essentials for insurance contracts? [Part 1 of 2]](/img/1.gif)
I am in the middle of the IFRS-17 audits this time of year! We need this!
My next video will illustrate the example with journal entries, so maybe you can check that out, too.
@@CPDbox that would be great! Conceptually revenue and releases from the LRC / CSM are new to all of us! It is very important to keep the journal entries in mind
Thank you for this video.. It really helps me understand a bit of IFRS 17!
Excellent videos. Very helpful and clear
Thanks, Very helpful, Simple and clear explanation.
Very useful video. Thanks 👌🏾
Nice video. Could you please make a video example with accounting an insurance company on the accounting journal with credit-debit ? thanks
Sure, the next one will be about initial recognition with journal entries.
Excellent video
15:19 just checking whether the headings are correct under PAA for LRC and LIC. thanks
I think so.
13:22 - Should discounting and risk adjustment have different signs?
No.
@@CPDbox i also believe it should have different sign. Please confirm
Amazing video
How is the float calculated for IFRS 17? Do you include LIC and AIC?
Thank you for doing this video. Just a quick question if you don’t mind. Which the changes made to presentation, how will comparisons to historical statements be facilitated? It would appear that the financial statements are now incomparable. Would you be able to share any insights and if maybe your courses provide some guidance on how to proceed?
How can I get your premium services and what would be the cost
You can check at www.cpdbox.com/ifrs-kit/
@@CPDbox First, I would like to thank you very much for your straightforward explaining of IFRS, you really let me understand them easily and smoothly.
Secondly, I would like to ask you If don’t mind to pos a video about IAS23 borrowing cost.
Many thanks.
Hi Silvia i am one of your subscriber please make a video on ASC 920 and 926 recognition and treatment
Hi Silvia, in ur video can I get subtitles also since m from india and not good in English
Does CSM increase as the premium becomes earned?
CSM can increase, but not as a result of the premium receipts.
How is insurance float calculated?
Thank you for this wonderful video. @10:04 When you are analysing an insurance company, what do you want to see as a good thing for the LRC and LIC? Should LRC be greater than LIC?
I noticed the financial statement for the resinsurance business (The company does insurance and reinsurance), for reinsurance its called ASSETS for Remaining Coverage and AMOUNTS RECOVERABLE for Incurred Claims.
Why is this? Is there a way to contact you by email to send you the financial statement and learn more?
They are accounted for in the same way as explained in the video, just opposite signs (and opposite booking debit/credit wise)
Many insurance companies lower their risk by having reinsurance programs and lower solvency requirements.
So if I am an insurer and you are the policyholder and pay me CU 100 to insurer your house for a one year coverage.
Then I could hold all the risk related to your house by myself or I could share some of that risk with a reinsurance company depending on risk appetite and solvency requirements.
In this case I will share my risk with reinsurance company because I know you live close to water and I believe there is a higher risk related to your house insurance policy.
For me that means I would also give up some of my profit from your policy but if a claim happen I would be reimbursed by my reinsurance program.
I hope it makes sense.
Can I get certificate also if I complete ur video
Yes, within the IFRS Kit www.cpdbox.com/ifrs-kit/