International financial reporting standard for insurance contracts No. 17
According to the report of financial news, quoted from the public relations and international affairs of the Insurance Research Institute, in this book, the purpose, scope of application, the level of consolidation of insurance contracts, recognition, measurement, adjustment and de-recognition, the presentation method in the form of financial status identification and the presentation method In the form(s) of financial performance, disclosure, explanation of recognized amounts, insurance financial income and expenses, transitional amounts, important judgments in the application of the International Financial Reporting Standard 17, the nature and extent of risks arising from contracts within the scope of application of the International Standard Financial reporting 17, all types of risk – risk concentration, insurance and market risks – sensitivity analysis is provided.
The difference in how accounting is treated in different legal systems and products is difficult for investors and analysts to understand and compare the results of insurers’ activities. Most stakeholders, including insurers, agree that due to the complex and long-term insurance risks involved in measuring insurance contracts, a universal common accounting standard for insurance contracts is needed.
Therefore, with the aim of increasing the usefulness of insurers’ financial statements and at the same time using continuous and uniform accounting procedures in different legal systems, the international financial reporting standard of 17 insurance contracts has been published. The said standard establishes a framework for recognition, measurement, presentation and disclosure of insurance contracts that are within the scope of this standard. The objective of this standard is to ensure that entities provide relevant information in a manner that faithfully reflects those contracts. This information provides a basis for users of financial statements to evaluate the effect that contracts subject to the standard have on the entity’s financial position, financial performance and cash flows.
This book will be useful in understanding and identifying the challenges in the implementation of the international standard of insurance contracts by the stakeholders and providing applicable solutions in Iran.
Those interested in purchasing the book “International Financial Reporting Standard for Insurance Contracts No. 17” can visit the Insurance Research Institute bookstore at the address of Tehran, Saadat Abad, Shahid Hasan Tehrani Moghadam Square (former Pine), No. 43, Saro Gharbi, or call phone number 22066063 ext. 666 achieve
Online purchase of this book is also possible through the website https://bookstore.irc.ac.ir/