Concepts of IFRS 4 â Insurance Contracts & Implementation ...
Concepts of IFRS 4 â Insurance Contracts & Implementation ...
Concepts of IFRS 4 â Insurance Contracts & Implementation ...
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<strong>IFRS</strong> 4 Phase I<br />
Impact : Balance sheet <strong>of</strong> an Indian Insurer<br />
Particulars<br />
ASSETS<br />
Non Current assets<br />
Financial Investments<br />
Current Assets<br />
Financial Investments<br />
Impact<br />
Negligible<br />
Negligible<br />
Other Financial Assets Below 15%<br />
EQUITY AND LIABILITIES<br />
Retained Earnings<br />
Other comprehensive income<br />
Negligible<br />
New item<br />
Non-Current Liabilities<br />
Other Financial Liabilities<br />
New item<br />
Current Liabilities<br />
Other Financial Liabilities Below 10%<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
Transaction costs on FVTPL<br />
investments charged <strong>of</strong>f.<br />
Investments Fair valued<br />
Impact on recognition <strong>of</strong> DAC<br />
and DOF on investment<br />
contracts<br />
Deferred lease expense<br />
charged <strong>of</strong>f<br />
Notional interest income<br />
recognised on deposits given.<br />
Premium/(Discount) amortised<br />
on investments reversed.<br />
Gain/(loss) on AFS recognised<br />
in OCI<br />
Copyright Birla Sun Life <strong>Insurance</strong> Company Limited 2008
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