IDEAS home Printed from https://ideas.repec.org/h/spr/sptchp/978-3-319-52851-9_28.html
   My bibliography  Save this book chapter

International Accounting Standards (IAS) and International Financial Reporting Standards (IFRS)

In: Fundamentals of the Insurance Business

Author

Listed:
  • Massimiliano Maggioni

    (University of Milano)

  • Giuseppe Turchetti

    (Sant’Anna School of Advanced Studies)

Abstract

This chapter aims to illustrate the main impacts of IAS/IFRS standards on an insurance undertaking. In the paragraphs that follow the impacts deriving from IAS/IFRS are described in detail. IAS 39 defines the main changes concern the introduction of new rules of classification, and measurement of financial instruments. IFRS 9, replacing the IAS 39, foresees new classifications and different measurement criteria for assets. IFRS 7 gives the requirements for disclosure in the matter of financial instruments. IFRS 4 governs the measurement criteria for insurance contracts and relative technical components. IFRS 17 introduces a new measurement model of an insurance contract, replacing the IFRS 4. IAS 38 applies to all intangible assets included within its area of application (with some specific exclusions). IAS 36 requires an analysis being made of possible losses of value for all intangible assets. IFRS 3 foresees business combination transactions, for instance, control obtained of one or more corporate assets. IAS 12 governs the criteria for accounting of income taxes. IFRS 8 requires an entity to provide information allowing to assess the nature and effects on the financial statements of the business activities.

Suggested Citation

  • Massimiliano Maggioni & Giuseppe Turchetti, 2024. "International Accounting Standards (IAS) and International Financial Reporting Standards (IFRS)," Springer Texts in Business and Economics, in: Fundamentals of the Insurance Business, chapter 28, pages 569-599, Springer.
    • Handle: RePEc:spr:sptchp:978-3-319-52851-9_28
    DOI: 10.1007/978-3-319-52851-9_28
    as

    Download full text from publisher

    To our knowledge, this item is not available for download. To find whether it is available, there are three options:
    1. Check below whether another version of this item is available online.
    2. Check on the provider's web page whether it is in fact available.
    3. Perform a search for a similarly titled item that would be available.

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:spr:sptchp:978-3-319-52851-9_28. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Sonal Shukla or Springer Nature Abstracting and Indexing (email available below). General contact details of provider: http://www.springer.com .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.