International Compatibility in Accounting Treatments for Insurance Contracts by the International Financial Reporting Standard (17)
DOI:
https://doi.org/10.31272/jae.i148.1427Keywords:
Accounting compatibility, IFRS 17,, insurance contracts, insurance and reinsurance companies,, accounting treatments.Abstract
This research addresses the international project of the International Accounting Standards Board in accounting harmonisation regarding the accounting treatments for insurance contracts. The practical aspect was represented in examining the accounting framework for adopting the modern standard in the National Insurance Company, based on applying the measurement methodology (the mandatory building blocks) and the allocation of premiums. Optional) on the final accounts, management reports, and company insurance contract information. The researchers reached several conclusions, perhaps the most prominent of which is that the unified accounting system for the National Insurance Company does not achieve accounting compatibility with international standards. The researchers recommended some of the most critical recommendations: The insurance company bases the accounting treatments for the insurance contract on the International Financial Reporting Standard (17).
Downloads
References
[1] الرَّاغب الأصفهاني، أبو القاسم الحُسين بن مُحمَّد؛ تحقيق مُحمَّد سيِّد الكيلاني (1985). المُفردات في غريب القُرآن (الطبعة الأولى). بيروت - لُبنان: دار المعرفة.
[2] أبو زيد، محمد المبروك (2014) " المحاسبة الدولية وانعكاساتها على الدول العربية " دار المريخ للنشر ، الرياض .
[3] IFRS A ,(2017) International Financial Reporting Standards, London.
[4] Grant Thornten,(2017), Get ready for IFRS 17 A fundamental change to the reporting for insurance contracts.
[5] IFRS B ,(2017) International Financial Reporting Standards, London.
[6] The Institute of Chartered Accountants of India, Principles and Practice of General Insurance,(2008) , Fourth Edition, Newdelhi.
[7] EFRAG,(2017), IFRS 17 Insurance Contracts and Level of Aggregation A background briefing paper.
[8] KPMG ,(2002) European Commission Study into the methodologies for prudential supervision of reinsurance with a view to the possible establishment of an EU framework.
[9] Kelly ,Margit s ,(2016), General Insurance , WISCONSIN LEGISLATOR BRIEFING BOOK
[10] Lourenço, Isabel Maria,(2015), Main Consequences of IFRS Adoption: Analysis of Existing Literature and Suggestions for Further Research, R. Cont. Fin..
[11] IFRS A ,(2017) International Financial Reporting Standards, London.
[12] Rodrigues, Lucia (2007), Assessing international accounting harmonisation using Hegelian dialectic, isomorphism and Foucault, Critical Perspectives on Accounting, 18.
[13] Etienna, julien,(2010), Compliance Theory: A Goal Framing Approach, Centre for Analysis of Risk and Regulation, London.
[14] Choi, Frederick & Meek.G,(2011), International Accounting , Seventh Edition, publishing as Prentice Hall, New Jersey.
[15] Doupink ,Timoth ,Perer.H,(2015) International Accounting, Third Edition, Library of Congress Cataloging-in-Publication Data.
[16] Ebimobowei,Appah,(2012), Convergence of Accounting Standards: The Continuing Debate, Asian Journal of Business Management, 4(2),
[17] Nigeria,Taiwo, Fasina H.,(2014), Empirical Analysis of The Effect of International Financial Reporting Standard (IFRS) Adoption on Accounting Practices in Nigeria, Archives of Business Research , Vol.2, No.2.
Downloads
Published
Issue
Section
Categories
License
This work is licensed under a Creative Commons Attribution 4.0 International License.
The journal of Administration & Economics is an open- access journal that all contents are free of charge. Articles of this journal are licensed under the terms of the Creative Commons Attribution International Public License CC-BY 4.0 (https://creativecommons.org/licenses/by/4.0/legalcode) that licensees are unrestrictly allowedto search, download, share, distribute, print, or link to the full text of the articles, crawl them for indexing and reproduce any medium of the articles provided that they give the author(s) proper credits (citation). The journal allows the author(s) to retain the copyright of their published article.
Creative Commons-Attribution (BY) 
