REASONS AND PROBLEMS OF APPLICATION OF INTERNATIONAL FINANCIAL REPORTING STANDARD №17 “INSURANCE CONTRACTS” IN INSURANCE COMPANIES
Abstract
The article analyzes the reasons and problems associated with the implementation of the IFRS 17 Insurance Contracts standard in insurance companies. The key changes introduced by the standard are considered, including a new approach to assessing insurance liabilities, accounting for profit and loss, and financial reporting requirements.
Keywords
IFRS 17, insurance companies, financial statements, insurance contracts, accounting for liabilities, discounted cash flows, actuarial calculations, accounting standards, transparency of financial data, regulatory requirements.How to Cite
References
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International standard of financial reporting No. 17 "Contracts". (2017). International financial reporting standards.
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