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  3. International Financial Reporting Standards (IFRSs)
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  1. IFRS 4: Insurance Contracts
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IFRS 4: Insurance Contracts

Comparing proposed amendment...
Objective (para. 1)
Scope (paras. 2-12)
Recognition and measurement (paras. 13-35A)
Presentation (paras. 35B-35N)
Disclosure (paras. 36-39M)
Effective date and transition (paras. 40-49)
Appendix A Defined terms
Appendix B Definition of an insurance contract
Appendix C Amendments to other IFRSs
Approval by the Board of IFRS 4 issued in March 2004
Approval by the Board of Financial Guarantee Contracts (Amendments to IAS 39 and IFRS 4) issued in August 2005
Approval by the Board of Applying IFRS 9 Financial Instruments with IFRS 4 Insurance Contracts (Amendments to IFRS 4) issued in September 2016
Approval by the Board of Extension of the Temporary Exemption from Applying IFRS 9 issued in June 2020
IFRS 4: Basis for Conclusions
Introduction (paras. BC1-BC9)
BC1
Background (para. BC2-BC5)
Tentative conclusions for phase II (paras. BC6-BC9)
Scope (paras. BC10-BC76)
BC10
Definition of insurance contract (paras. BC11-BC60)
Scope exclusions (paras. BC61-BC76)
Temporary exemption from some other IFRSs (paras. BC77-BC122)
BC77-BC86
Catastrophe and equalisation provisions (paras. BC87-BC93)
Liability adequacy (paras. BC94-BC104)
Derecognition (para. BC105)
Offsetting (para. BC106)
Reinsurance assets (paras. BC107-BC114)
Other existing practices (paras. BC115-BC122)
Changes in accounting policies (paras. BC123-BC146)
Relevance and reliability (paras. BC123-BC125)
Discounting (paras. BC126-BC127)
Investment management fees (paras. BC128-BC130)
Uniform accounting policies on consolidation (paras. BC131-BC132)
Excessive prudence (para. BC133)
Future investment margins (paras. BC134-BC144)
Redesignation of financial assets (paras. BC145-BC146)
Acquisition of insurance contracts in business combinations and portfolio transfers (paras. BC147-BC153)
Discretionary participation features (paras. BC154-BC165)
Issues related to IAS 39 (paras. BC166-BC197)
Assets held to back insurance contracts (paras. BC166-BC180)
Shadow accounting (paras. BC181-BC184)
Investment contracts (paras. BC185-BC187)
Embedded derivatives (paras. BC188-BC194)
Elimination of internal items (paras. BC195-BC197)
Issues related to IFRS 9 (para. BC197A)
Income taxes (para. BC198)
Disclosure (paras. BC199-BC226A)
BC199-BC207
Materiality (paras. BC208-BC210)
Explanation of recognised amounts (paras. BC211-BC214)
Nature and extent of risks arising from insurance contracts (paras. BC215-BC226)
Disclosures about the temporary exemption from IFRS 9 and the overlay approach (para. BC226A)
Summary of changes from ED 5 (para. BC227)
Applying IFRS 9 with IFRS 4 (paras. BC228-BC282)
Background (paras. BC228-BC236)
Overlay approach (paras. BC237-BC239)
Eligibility for the overlay approach (paras. BC240-BC247)
Temporary exemption from IFRS 9 (paras. BC248-BC274)
Fixed expiry date for the temporary exemption (paras. BC275-BC277G)
Temporary exemption from specific requirements in IAS 28 (paras. BC278-BC281)
First-time adopter (para. BC282)
Effects analysis of Applying IFRS 9 with IFRS 4 (paras. BC283-BC299)
BC283-BC284
Financial statements of those applying IFRS (paras. BC285-BC287)
Comparability (paras. BC288-BC289)
Usefulness in assessing the future cash flows of an entity and better economic decision-making (paras. BC290-BC292)
Effect on compliance costs for preparers (paras. BC293-BC296)
The costs of analysis for users of financial statements (paras. BC297-BC299)
Dissenting opinions on IFRS 4
IFRS 4: Implementation Guidance
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