Unformatted text preview: fair value through profit or loss? Has the issuer previously asserted explicitly that it regards such contracts as insurance contracts and has used accounting applicable to insurance contracts and elected to apply IFRS 4 to the individual contract? Apply IAS 39.43 and 47c: after initial recognition at fair value the issuer shall measure contract at higher of: Amount determined in accordance with IAS 37 Provisions, Contingent Liabilities and Contingent Assets Amount initially recognised less when appropriate cumulative amortisation in accordance with IAS 18 Revenue YES YES NO NO YES Apply IFRS 4 Insurance Contracts...
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- Spring '10
- Generally Accepted Accounting Principles, insurance contracts