| Online Deep Dive Course on Introduction to Insurance Contracts Standard (Ind AS 117) – Module 1 (ACCOUNTING AND AUDITING) | |
| Event ID: | 11042874 |
| Date: | From: 19-10-2024 – To: 26-10-2024 |
| POU Name: | Accounting Standards Board |
| ICE ID: | 1042874 For details about ICAI-ICE ,Click here(FAQ) |
| Event Venue: | Virtual Mode |
| City: | Virtual Mode |
| CPE Hrs: | 9 |
| Venue Capacity: | |
| Fees: | Fee for Member – Rs. 1500 + 18% GST (i.e., Rs. 1770/-) Fee for Non-Members – Rs. 2500 + 18% GST (i.e., 2950) |
| Joint Seminar: | N |
| If Yes, with whom: | |
| Hosted by: | |
| For Registration & further details, please contact: | indascourse@icai.in & kulashekhar@icai.in |
| Webcast Link: | https://learning.icai.org/committee/asb/ref-indas-117/member/ |
| Programme Structure | |
| Inaugural Address: | |
| Valedictory Address: | |
| Date | Description | From | To | Faculty | Chairman | CPE Hrs |
|---|---|---|---|---|---|---|
| Day 1 | ||||||
| 19-10-2024 | “• Introduction and Background to Ind-AS 117 Insurance Contracts • Objective of Ind-AS 117 (What the Standard seeks to achieve?) • Scope of Ind-AS 117 (Why this Standard and When to apply this Standard?) Including …. Relevance of Ind AS 117 for Non Insurance Companies • Key Definitions, Concepts and Principles under Ind-AS 117 and how they apply • How Ind-AS 117 is intended to improve financial reporting for insurance contracts • Executive Summary and Overview of Ind-AS 117 (along with overview of the core concepts under Ind AS 117) • What are Insurance Contracts, as contemplated under Ind-AS 117 – Insurance Risk – how different from Finance Risk – How to assess significant insurance risk? • How to identify and separate various components of an insurance contract under Ind-AS 117 • Situations when insurance contracts are to be combined • Level of Aggregation (viz. Unit of Account) – for insurance contracts • ‘Initial Recognition’ : | 17:00:00 | 20:00:00 | CA. ANJANI KUMAR KHETAN | 3.00 | |
| Day 2 | ||||||
| 20-10-2024 | “• General Model (a.k.a. Building Block Model) under Ind AS 117 – Understand the General Model – Understand each of its components under the General Model –> Analysis of the components of insurance contract liability, viz. (a) Estimation of cash flows, (b) discount rates, (c) risk adjustment for non-financial risk and (d) contractual service margin – Apply the general model to basic insurance contracts (step-by-step, with example and case study) – Initial Recognition – Subsequent Measurement – Components of insurance revenue, insurance service expense, insurance finance expense and insurance contract liability – Explain CSM Calculation and how CSM is allocated to P&L • Relevant Examples and Case studies” : | 10:00:00 | 13:00:00 | ALOK KUMAR GARG | 3.00 | |
| Day 8 | ||||||
| 26-10-2024 | “• Premium Allocation Approach (PAA) under Ind AS 117 – Applicability / Eligibility – when can one apply PAA – How PAA is different from General Model and what simplification are introduced by PAA – Initial Recognition and Measurement under PAA (explained step-by-step, with example and case study) – Subsequent Measurement under PAA (explained step-by-step, with example and case study) – Practical examples and case study – to gain a greater understanding of the PAA • Variable Fee Approach under Ind AS 117 – When to apply VFA ? – Explain Variable Fee Approach – step-by-step, with example and case study • Interaction with other Ind AS • Relevant Examples and Case studies” : | 17:00:00 | 20:00:00 | CA.Mohan R Lavi | 3.00 | |