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Abstract

After a few years, precisely in 2017 the IASB issued IFRS 17 which was the new standard for insurance contracts. This standard improves the shortcomings contained in IFRS 4. The IASB sets limits on the application of IFRS 17 in 2021 with early adoption allowed. This study discusses the readiness analysis of insurance companies in Indonesia applying and adopting IFRS 17 and reviewing the comparison of financial statement calculations using IFRS 4 and IFRS 17. The methodology used in this study, namely the Research Methodology Library Study. Based on the results of the study it can be concluded that if IFRS 17 is applied, the display of comprehensive income reports will be very different from the current model reports, but instead this new report will be more in accordance with the forms of reports on other similar industries (eg banks or securities companies) . The implementation of IFRS 17 is very good for insurance companies in Indonesia.

References

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