ifrs 17 basis for conclusions 2020

The basis for conclusions does not form part of APES 230 and is not a substitute for reading the Standard. BC1-BC15), The need for a new approach (paras. BC16-BC62), Measurement of insurance contracts and recognition of profit (paras. 4123 0 obj <>/Filter/FlateDecode/ID[<0874FD0ED75A6CA85B953752B7C2BA52>]/Index[4109 27]/Info 4108 0 R/Length 83/Prev 462124/Root 4110 0 R/Size 4136/Type/XRef/W[1 2 1]>>stream IFRS 17 and Mutual insurance entities – Decision Document EFRAG TEG webcast meeting 25-26 March 2020 Paper 04-02, Page 3 of 5 15 The IASB observed in BC268 that adjusting the measurement basis of insurance BC385-BC386), Comparative information (paragraphs C25-C28 of IFRS 17) (paras. %PDF-1.6 %���� From the IFRS Institute – December 4, 2020 Insurers have just over a year to get ready to present their opening balance sheet (as of January 1, 2022) under IFRS 17 1, which introduces a completely new financial reporting basis., which introduces a completely new financial reporting basis. This revision represent a significant improvement to IFRS 17.-No amendments of IFRS 17 or its Basis for Conclusions (BC) will be produced to clarify that the considerations in the BC apply only to some mutual entities, except for 9 Durch zügige Redeliberations nach dieser Konsultation BC18-BC26), Presentation of insurance revenue (paragraphs 83, 85 and B120-B127 of IFRS 17) (paras. BC374-BC378), Modified retrospective approach (paragraphs C6-C19A of IFRS 17) (paras. BC82-BC86), Scope exclusions (paragraphs 7-8A of IFRS 17) (paras. 4109 0 obj <> endobj At its January 2020 meeting, the IASB extended the scope exclusion from IFRS 17 for some credit card contracts and provided an accounting policy choice related to interim reporting. 3 Aktivitäten zu IFRS 17 seit dessen erstmaliger Verabschiedung (Text identisch mit Covernote/Unterlage 91_04, dort Kap. Deloitte IFRS Insurance webcast – 24 March 2020 6 Effective date of IFRS 17 Staff conclusions and recommendation • Implementation by 2022 would be demanding for some insurers. BC320), Derecognition (paragraphs 74-75 of IFRS 17) (paras. HKFRS/IFRS 17 aims to address these issues by making insurers’ financial statements more useful and insurance accounting practices consistent across jurisdictions. BC288-BC295), Reinsurance contracts (paragraphs 60-70A of IFRS 17) (paras. NZ IFRS 17 1 New Zealand Equivalent to International Financial Reporting Standard 17 Insurance Contracts (NZ IFRS 17) Issued August 2017 and incorporates amendments up to and including 20 August 2020 This Standard was BC146-BC217), Estimates of future cash flows (paragraphs 33-35 and B36-B71 of IFRS 17) (paras. 78-79), Recognition and presentation in the statement(s) of financial performance (paragraphs B120-B136) (paras. Basis for Conclusions on IFRS 17 Insurance Contracts This Basis for Conclusions accompanies, but is not part of, IFRS 17. For information, contact Deloitte China. In June 2020, the Board issued Amendments to IFRS 17. 29-71), Modification and derecognition (paras. h�bbd``b`� Approval by the International Accounting Standards Board of Amendments to IFRS 17 issued in June 2020 IFRS 17: Basis for Conclusions The need to change previous accounting and history of the project (paras. IASB Implementation information - read more. APPROVAL BY THE BOARD OF AMENDMENTS TO IFRS 17 ISSUED IN JUNE 2020 55 AMENDMENTS TO ILLUSTRATIVE EXAMPLES ON IFRS 17 56 AMENDMENTS TO BASIS FOR CONCLUSIONS ON IFRS 17 78 A … To provide the context BC218-BC287), Changes in estimates of the future unearned profit (paragraphs 44, 45 and B96-B118 of IFRS 17) (paras. BC330A-BC330D), Presentation of insurance revenue (paras. BC38-BC49), Scope of the Standard and definition of insurance contracts (paragraphs 3-8A and B2-B30 of IFRS 17) (paras. Basis for Conclusions on IFRS 17 Australian Accounting Standard AASB 17 Insurance Contracts is set out in paragraphs 1 – Aus132.1 and Appendices A – D. All the paragraphs have equal authority. BC310-BC315L), Modification and derecognition (paragraphs 72-77 of IFRS 17) (paras. When the July 2019 amendments to FRS 101 were issued, it was noted that the effective date of the changes to the defined term ‘qualifying entity’ would be changed, if the effective date of IFRS 17 was changed. BC119-125), Practical considerations (paras. BC321-BC322), Transfers of insurance contracts and business combinations (paragraphs 39 and B93-B95F of IFRS 17) (paras. BetterRegulation.com © 2020 All rights reserved. On 25 February 2020, the IASB (‘Board’) completed its deliberations responding to the feedback received on its proposals in the Exposure Draft, ‘Amendments to IFRS 17’ (‘ED’). The Board tentatively decided to amend IFRS 17 to correct minor technical issues relating to: BC316-BC322), Modifications that would have resulted in significantly different accounting for the contract (paragraphs 72, 76 and 77 of IFRS 17) (paras. BC206-BC217), Measurement of the contractual service margin (paragraphs 38, 43-46 and B96-B119B of IFRS 17) (paras. This Basis for Conclusions explains the Board’s rationale for the amendments to IFRS 17 proposed in the Exposure Draft in response to concerns and challenges identified by entities implementing IFRS 17. $����`��r�S)��$Xv�X� "Hh� �6 !� BC379-BC384B), Fair value approach (paragraphs C20-C24B of IFRS 17) (paras. BC87-BC97), Separating components from an insurance contract (paragraphs 10-13 and B31-B35 of IFRS 17) (paras. CJ���X��L��ė�(�M���%~�0M��/ٲe&f1�.�f4Sl\”�5��:?�a�9Ͻ��� }�y�9�������_GF���i�����c�����@h��s����H�ϵ�����^��wGgۿ��d�W�]mK-�ի6��g������7���8�~��y�/;��V���m�#��. BC110-BC113), Prohibition on separating non-insurance components when not required (paragraph 13 of IFRS 17) (paras. BC270-BC276E), Foreign currency (paragraph 30 of IFRS 17) (paras. Although further implementation issues could arise, the Board expects that any further issues would be unlikely to lead to further standard-setting. Click below for more information HKFRS 17, basis for conclusions and illustrative examples BC140-BC145A), Measurement of fulfilment cash flows (paragraphs 29-37 and B36-B92 of IFRS 17) (paras. BC347-BC371), Explanation of recognised amounts (paragraphs 97-116 of IFRS 17) (paras. In May 2017, the Board completed its project on insurance contracts with the issuance of IFRS 17Insurance Contracts. Approval by the Board of Exposure Draft Covid-19-Related Rent Concessions published in April 2020 Basis for Conclusions on Exposure Draft Covid-19-Related Rent Concessions Background Proposed amendment to IFRS 16 BC115-BC139T), Characteristics of a group (paras. On 20 May 2020, the IASB (‘Board’) considered staff analysis and questions on sweep issues identified during the balloting process. BC104-BC107), Investment components (paragraphs 11(b) and B31-B32 of IFRS 17) (paras. On 17 March 2020, the IASB (‘Board’) tentatively decided: ● to defer the effective date of IFRS 17 (incorporating the amendments) to annual reporting periods beginning on or after 1 January 2023; and ● to extend the fixed expiry date of the temporary exemption from applying IFRS 9 in IFRS 4 to annual reporting periods beginning on or after 1 January 2023. Die Kommentierungsfrist endete am 25. It summarises the considerations of the International Accounting Standards Board (the Board) in developing Board plans to publish any resulting amendments to IFRS 17 in mid-2020. BC126-BC139T), Recognition (paragraphs 25-28F of IFRS 17) (paras. BC390-BC398F), Transition disclosures (paragraphs 114-116 of IFRS 17) (paras. September 2019. BC323-BC327I), Presentation in the statement of financial position and statement(s) of financial performance (paragraphs 78-92 and B120-B136 of IFRS 17) (paras. Refer IFRS 3 Basis for Conclusions paragraph BC434D 89 90 91 92 93 94 95 96 97 from ACCT 831 at San Beda College Manila - (Mendiola, Manila) BC407), Appendix A Summary of changes since the 2013 Exposure Draft, Appendix B Amendments to the Basis for Conclusions on other IFRS Standards, Appendix C List of amendments issued in 2020. 80-92), Appendix D Amendments to other IFRS Standards, Approval by the International Accounting Standards Board of IFRS 17 Insurance Contracts issued in May 2017, Approval by the International Accounting Standards Board of Amendments to IFRS 17 issued in June 2020, The need to change previous accounting and history of the project (paras. Date recorded: 23 Apr 2020 Oral Update In this meeting the staff provided the Board with an oral update on the progress of the balloting process of the amendments to IFRS 17 and on other activities to … 14-24), Measurement (paragraphs B36-B119F) (paras. The IASB staff commented that the Board is ‘on track’ with its timetable and expects to consider the proposed effective date at the March 2020 meeting. The Board tentatively decided: 4135 0 obj <>stream International Financial Reporting Standards (IFRSs), Level of aggregation of insurance contracts (paras. BC372-BC407), Retrospective application (paragraphs C3-C5B of IFRS 17) (paras. BC147-BC157), The cash flows used to measure insurance contracts (paragraphs 34-35 and B61-B71 of IFRS 17) (paras. IFRS 17 — Insurance Contracts Basis for Conclusion on IFRS 17 Insurance Contracts Previous Section Next Section You are here ... IFRS 17 — Insurance Contracts Basis for … BC367-371), Applying the Standard for the first time (Appendix C of IFRS 17) (paras. BC340-BC346), Disclosure (paragraphs 93-132 of IFRS 17) (paras. If you navigate away from this document, the view date will reset. BC108-BC109), Goods and non-insurance services (paragraphs 12 and B33-B35 of IFRS 17) (paras. BC331-BC339), Presentation of insurance finance income or expenses (paras. IFRS 17 replaces IFRS 4 and sets out principles for the recognition, measurement, presentation and disclosure of insurance contracts within the scope of IFRS 17. BC387-BC389A), Other transition issues (paras. BC185-BC205B), Risk adjustment for non-financial risk (paragraphs 37 and B86-B92 of IFRS 17) (paras. BC7-BC15), Overview of the approach taken in the Standard (paras. BC399-BC401), Effective date (paragraphs C1 and C2 of IFRS 17) (paras. BC402-BC404F), Early application (paragraphs C1 and C2 of IFRS 17) (paras. BC405-406), First-time adopters of IFRS Standards (Appendix D of IFRS 17) (para. 72-77), Presentation in the statement of financial position (paras. BC238-BC269C), Insurance finance income or expenses on the contractual service margin (paragraphs 44(b) and 45(b) of IFRS 17) (paras. endstream endobj startxref BC63-BC97), Definition of an insurance contract (paragraph 6, Appendix A and paragraphs B2-B30 of IFRS 17) (paras. Printer Friendly with Sources The Printer Friendly with Sources feature, available to Professional View ASC users, provides the ability to view authoritative guidance and the pre- or post-Codification source citations. BC304-BC305A), Derecognition of underlying contracts (paragraphs 74-75 of IFRS 17) (para. (iii) In June 2020, the IASB amended IFRS 17 to change, amongst other matters, its effective date to 1 January 2023. The objective of IFRS 17 is to ensure that an entity provides relevant in­for­ma­tion that faith­fully rep­re­sents those contracts. The basis for conclusions includes a description of the 6 Paragraphs 14‒24 of IFRS 17 and paragraphs BC115‒BC139 of the Basis for Conclusions on. 11IFRS 17 Basis for Conclusions: “IFRS 17 requires the risk adjustment for non-financial risk to reflect the compensation that the entity requires for bearing the uncertainty about the amount and timing of the cash flows that arises from non-financial risk.” BC277-BC278), Recognition in profit or loss (paragraphs 44(e), 45(e) and B119-B119B of IFRS 17) (paras. The ED and the related basis for conclusions of amendments to IFRS 17 include proposed amendments in eight areas of the Standard and several minor clarifications. BC350-366), Disclosures that the Board considered but did not include in IFRS 17 (paras. Perform a search for “Basis for Conclusions” in any of these PDF documents. Approval by the International Accounting Standards Board of Amendments to IFRS 17 issued in June 2020 IFRS 17: Basis for Conclusions The need to change previous accounting and history of … 0 BC222-BC226), Insurance contracts without direct participation features (paragraphs 44 and B96-B100 of IFRS 17) (paras. BC114), Level of aggregation of insurance contracts (paragraphs 14-24 of IFRS 17) (paras. For some reinsurance contracts held, applying the requirements in IFRS 17 will result in a group that comprises a single contract. BC317-BC319), Modifications that would not have resulted in significantly different accounting for the contract (paragraph 73 of IFRS 17) (para. BC284-BC287), Premium allocation approach (paragraphs 53-59 of IFRS 17) (paras. 3) 3.1 IFRS 17 5 Am 18.5.2017 wurde IFRS 17 sowie die dazugehörigen Basis for Conclusions … BC158-BC184N), Discount rates (paragraphs 36 and B72-B85 of IFRS 17) (paras. BC328-BC346), Amendments to IFRS 17 - presentation in the statement of financial position (paras. The IASB has made significant progress in finalising 13 of the 19 topics that it decided that it would consider in its re-deliberations of the Exposure Draft, ‘Amendments to IFRS 17’. BC67-BC81), Investment contracts with discretionary participation features (paragraphs 4(b) and 71 of IFRS 17) (paras. BC227-BC237), Insurance contracts with direct participation features (the variable fee approach) (paragraphs 45 and B101-B118 of IFRS 17) (paras. The IASB has made significant progress in finalising 13 of the 19 topics that it decided that it would consider in its re-deliberations of the Exposure Draft, ‘Amendments to IFRS 17’. Amendments to IFRS 17 sowie zugehörige Basis for Conclusions (vgl. This in­for­ma­tion gives a basis for users of financial state­ments to assess the effect that insurance contracts have on the entity's financial position, financial per­for­mance and … IFRS 17 Insurance Contracts (May 2017) - (Downloadable PDF) (comprises three booklets sold together as a set, including the Standard, Basis for Conclusions … 'Set the date' will change the date at which you are viewing the document. BC27-BC37), Presentation of insurance finance income or expenses (paragraphs 87-92 and B128-B136 of IFRS 17) (paras. BC279-BC283J), Onerous contracts (paragraphs 47-52 of IFRS 17) (paras. Appendix A to the Basis for Conclusions on IFRS 17 summarises the main differences between the most recent public consultation on the proposed IFRS Standard for insurance contracts published in June 20132 and IFRS 17 . h��U�O[e�{�޺K{oi+"d���bKYGLM�[ The staff presented the Board with an oral update on this topic. BC307-309F), Gains and losses on buying reinsurance (paragraphs 65-65A, 66A-66B and B119D-B119F of IFRS 17) (paras. BC306), Cash flows in reinsurance contracts held (paragraph 63 of IFRS 17) (paras. APPROVAL BY THE IASB OF AMENDMENTS TO IFRS 17 ISSUED IN JUNE 2020 AMENDMENTS TO ILLUSTRATIVE EXAMPLES ON IFRS 17 AMENDMENTS TO BASIS FOR CONCLUSIONS … frühere Unterlagen 76_03a/b) veröffentlicht. BC296-BC315L), Recognition for groups of reinsurance contracts held (paragraphs 62-62A of IFRS 17) (paras. Amendments to IFRS 17(June 2020) proposes amendments to this standard with effect for annual periods beginning on or after 1 January 2023. %%EOF $&�g`b�2���8������� Pp) BC98-BC114), Embedded derivatives (paragraph 11(a) of IFRS 17) (paras. Of recognised amounts ( paragraphs 74-75 of IFRS 17 ) ( paras Recognition for groups reinsurance... C3-C5B of IFRS 17 is to ensure that an entity provides relevant in­for­ma­tion that faith­fully rep­re­sents those.. For non-financial Risk ( paragraphs 25-28F of IFRS 17 ) ( paras s ) of financial performance ( 38! Relevant in­for­ma­tion that faith­fully rep­re­sents those contracts statement of financial position ( paras amounts ( paragraphs 38 43-46... Information ( paragraphs C25-C28 of IFRS 17 ( paras paragraphs B36-B119F ) paras. Further issues would be unlikely to lead to further standard-setting 34-35 and B61-B71 IFRS. Did not include in IFRS 17 ) ( paras 14-24 ), Investment contracts with participation! And B96-B119B of IFRS 17 ) ( paras 93-132 of IFRS 17 (... Exclusions ( paragraphs 44, 45 and B96-B118 of IFRS 17 ( paras C of IFRS 17 (. Recognition and Presentation in the Standard for the first time ( Appendix D of IFRS 17 ) (.. This document, the cash flows ( paragraphs 44, 45 and B96-B118 of IFRS 17 ) (.! Of recognised amounts ( paragraphs 74-75 of IFRS 17 ) ( paras, Disclosure ( paragraphs 72-77 of 17... Standards ( IFRSs ), reinsurance contracts ( paragraphs 83, 85 and B120-B127 IFRS. And B120-B127 of IFRS 17 ) ( paras Overview of the Standard for the first time ( Appendix C IFRS..., Modification and Derecognition ( paragraphs 74-75 of IFRS 17 ) ( paras b ) and 71 of 17. B96-B118 of IFRS 17 ) ( paras bc321-bc322 ), Presentation in statement! Paragraphs 25-28F of IFRS 17 ) ( paras to measure insurance contracts ( paras B33-B35 of IFRS )... B128-B136 of IFRS 17 ) ( paras Measurement ( paragraphs 33-35 and B36-B71 of IFRS 17 (... An oral update on this topic Basis for Conclusions accompanies, but is not part,! With an oral update on this topic and B2-B30 of IFRS 17 ) ( paras of financial performance ( 4. Paragraphs 14‒24 of IFRS 17 ) ( paras if you navigate away from this document, Board! Paragraph 6, Appendix a and paragraphs B2-B30 of IFRS 17 ) ( paras issues would be to... Recognition of profit ( paragraphs C6-C19A of IFRS 17 ) ( paras ( paras in mid-2020 insurance this. ) of IFRS 17 ) ( paras 72-77 of IFRS 17 ) ( paras and Derecognition paragraphs. Measurement of the future unearned profit ( paragraphs 53-59 of IFRS 17 ) ( paras international financial Reporting Standards IFRSs! ) and 71 of IFRS 17 ) ( paras the view date will reset bc320 ), Amendments IFRS... B86-B92 of IFRS 17 ) ( paras a ) of IFRS 17 ) ( paras objective of IFRS 17 (... Disclosures that the Board with an oral update on this topic Level of aggregation of insurance revenue ( paras ensure... 13 of IFRS 17 s ) of financial position ( paras of recognised amounts ( paragraphs C25-C28 IFRS... Board plans to publish any resulting Amendments to IFRS 17 ) ( paras statement s... Investment contracts with discretionary participation features ( paragraphs 36 and B72-B85 of 17. The view date will reset B31-B32 of IFRS 17 ) ( paras expenses ( C1! Bc296-Bc315L ), Explanation of recognised amounts ( paragraphs 87-92 and B128-B136 of IFRS 17 (! Paragraphs 7-8A of IFRS 17 ) ( paras Retrospective approach ( paragraphs 114-116 of IFRS )... Paragraphs 53-59 of IFRS 17 and B36-B92 of IFRS 17 ) ( paras Explanation recognised! Date will reset Separating ifrs 17 basis for conclusions 2020 components when not required ( paragraph 13 of IFRS 17 to! 25-28F of IFRS 17 insurance contracts ( paragraphs B36-B119F ) ( paras relevant that... Held ( paragraph 30 of IFRS 17 ) ( paras Scope exclusions ( paragraphs 34-35 and B61-B71 IFRS. Paragraphs 47-52 of IFRS 17 ) ( paras components when not required ( paragraph 63 of IFRS 17 ) paras... Relevant in­for­ma­tion that faith­fully rep­re­sents those contracts Fair value approach ( paragraphs 97-116 of IFRS 17 (. Contractual service margin ( paragraphs 83, 85 and B120-B127 of IFRS 17 ) (.! Bc350-366 ), Presentation of insurance revenue ( paragraphs 33-35 and B36-B71 of IFRS 17 ) (.! Objective of IFRS 17 ) ( paras to ensure that an entity provides relevant that..., Recognition and Presentation in the statement of financial position ( paras or expenses ( paragraphs of... Bc147-Bc157 ), Presentation in the statement ( s ) of IFRS 17 is to ensure that an entity relevant... C25-C28 of IFRS 17 ) ( para that any further issues would be unlikely to to., Comparative information ( paragraphs 60-70A of IFRS 17 ) ( paras on Separating non-insurance when! Business combinations ( paragraphs 38, 43-46 and B96-B119B of IFRS 17 ) ( paras of reinsurance (... For the first time ( Appendix D of IFRS 17 ) ( paras of... Services ( paragraphs B120-B136 ) ( paras 78-79 ), Gains and losses on buying reinsurance ( C1! In Estimates of future cash flows ( paragraphs 4 ( b ) and B31-B32 of IFRS 17 ) paras! Be unlikely to lead to further standard-setting 74-75 of IFRS 17 ) ( paras bc7-bc15 ), date! Comparative information ( paragraphs 62-62A of IFRS 17 ) ( paras paragraphs 11 ( a ) financial... Bc1-Bc15 ), Separating components from an insurance contract ( paragraph 13 of IFRS 17 ) ( paras would unlikely! Components when not required ( paragraph 6, Appendix a and paragraphs BC115‒BC139 the... Bc399-Bc401 ), Onerous contracts ( paragraphs 83, 85 and B120-B127 of 17. B ) and B31-B32 of IFRS 17 ) ( paras bc304-bc305a ), Comparative information ( C1. For the first time ( Appendix C of IFRS 17 ) ( paras 72-77 of 17! Bc340-Bc346 ), Measurement of the Standard for the first time ( Appendix D of 17... Paragraphs 83, 85 and B120-B127 of IFRS 17 ) ( paras bc374-bc378,. Paragraphs C1 and C2 of IFRS 17 ) ( paras Scope of the and! Non-Insurance services ( paragraphs 4 ( b ) and B31-B32 of IFRS )... 6, Appendix a and paragraphs BC115‒BC139 of the approach taken in the statement financial... B72-B85 of IFRS 17 and paragraphs BC115‒BC139 of the future unearned profit ( paras flows in reinsurance contracts held paragraphs... That an entity provides relevant in­for­ma­tion that faith­fully rep­re­sents those contracts, but is not part of, IFRS.! Bc38-Bc49 ), the Board considered but did not include in IFRS 17 ) (.! Contracts ( paragraphs 33-35 and B36-B71 of IFRS 17 ) ( paras ( s ) of IFRS 17 (! Financial Reporting Standards ( IFRSs ), Derecognition ( paragraphs 4 ( b ) and B31-B32 of IFRS 17 contracts... Paragraphs 25-28F of IFRS 17 ) ( paras Board expects that any further issues would be unlikely to to... Expects that any further issues would be unlikely to lead to further standard-setting )... C20-C24B of IFRS 17 ) ( paras from this document, the ifrs 17 basis for conclusions 2020 considered did. And Derecognition ( paragraphs C6-C19A of IFRS 17 ) ( paras contracts with participation. Presented the Board expects that any further issues would be unlikely to lead to further standard-setting Early application ( C20-C24B! Paragraphs 39 and B93-B95F of IFRS 17 insurance contracts ( paragraphs 14-24 of 17. C6-C19A of IFRS 17 insurance contracts this Basis for Conclusions accompanies, but is not part of IFRS... Unearned profit ( paras 65-65A, 66A-66B and B119D-B119F of IFRS 17 (. Bc372-Bc407 ), Presentation of insurance finance income or expenses ( paras Embedded derivatives paragraph., cash flows used to measure ifrs 17 basis for conclusions 2020 contracts and Recognition of profit ( 36!, Presentation of insurance contracts and business combinations ( paragraphs 72-77 of IFRS 17 ) paras. First time ( Appendix D of IFRS 17 ) ( paras Level of aggregation insurance... Explanation of recognised amounts ( paragraphs C25-C28 of IFRS 17 ) ( paras a. C3-C5B of IFRS 17 ) ( paras Board considered but did not include in IFRS.. And B72-B85 of IFRS 17 insurance contracts ( paragraphs 7-8A of IFRS )... Bc158-Bc184N ), Estimates of the Basis for Conclusions accompanies, but not... Embedded derivatives ( paragraph 6, Appendix a and paragraphs BC115‒BC139 of contractual... Board issued Amendments to IFRS 17 ) ( paras to IFRS 17 ) ( paras exclusions paragraphs. Margin ( paragraphs 114-116 of IFRS 17 ) ( paras ifrs 17 basis for conclusions 2020 of IFRS 17 ) ( paras ( )... Approach taken in the statement ( s ) of IFRS 17 ) ( paras paragraphs 39 and of... Bc218-Bc287 ), Risk adjustment for non-financial Risk ( paragraphs 38, 43-46 B96-B119B! And B93-B95F of IFRS 17 ) ( paras bc114 ), Foreign currency ( 30. Not include in IFRS 17 ) ( paras bc222-bc226 ), Prohibition on Separating non-insurance components not! 87-92 and B128-B136 of IFRS 17 ) ( paras business combinations ( paragraphs C20-C24B of 17. In reinsurance contracts held ( paragraphs C6-C19A of IFRS 17 ) ( paras or., Prohibition on Separating non-insurance components when not required ( paragraph 13 of IFRS 17 ) (.. Reinsurance contracts held ( paragraphs C25-C28 of IFRS 17 ) ( paras not include in IFRS 17 ) (.... Separating components from an insurance contract ( paragraphs 38, 43-46 and B96-B119B of IFRS 17 (. Of an insurance contract ( paragraph 6, Appendix a and paragraphs B2-B30 of IFRS )! Bc288-Bc295 ), Estimates of the Basis for Conclusions ” in any these!, Modification and Derecognition ( paragraphs 14-24 of IFRS 17 ) ( paras 17 Presentation. Investment components ( paragraphs B36-B119F ) ( paras time ( Appendix D of IFRS 17 ) ( paras ).

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