Profit and loss statement with the Systemorph IFRS17 report
IFRS17 is the new standard regulating how profit and loss are accounted for by the insurance industry and how their estimate changes can be summarized in the financial reports.
In this episode of #Techucation, we investigate how to read this information in the Systemorph IFRS17 standard solution and will cover how granularity and degree of aggregation can easily be varied.
To follow along, access the ‘Reports’ notebook in the IFRS17 Template project.
Additional videos that might be useful include:
- Can you differentiate between a loss-making and a profitable business?
- Sensitivity Analysis and Financial Modeling
Let us know what else you’d like us to make video episodes on in the comments below.
In the second of this three-part episode, we present written, advance and overdue actuals and the actuarial experience adjustment – the difference between effective and expected cash flows.
In the first of this three-part episode, study the Best Estimates and Risk Adjustments of Present Values displayed in the Reports notebook and calculated from the template data shipped with the IFRS17 Project available in the Systemorph Cloud Portal.
In this episode, we walk you through the Systemorph IFRS17 Template Project which includes a complete example of input data for many annual reporting periods and uses our Calculation Engine for producing and reporting results.
We break down the theory behind calculating the present value of insurance contracts through the Analysis of Change approach.
We show you how the present value of a group of insurance contracts can easily be calculated using our IFRS17 Calculation Engine developed in Systemorph Cloud Notebooks.
We show you how to configure the Systemorph IFRS17 Calculation Engine to your own data set and business. From setting up your company’s many legal entities to include your favorite Analysis of Change step. This is where the magic happens.