Özet:

Objective-  The new IFRS 17 “Insurance Contracts” Standard, which could change the accounting of all enterprises drawing up insurance contracts and the investment contracts with discretionary participation feature radically, will be applied in the annual reporting periods starting on January 1, 2021 or after that date, and replace TFRS 4 "Insurance Contracts" standard that is currently in force. This study examines the IFRS 17 standard from the viewpoint of the insurance companies, and also discusses the revisions made within the scope of TFRS 4 that is in force until the start of the application of the IFRS 17 standard, and the accompanying right of exemption in application of the TFRS  9 "Financial Instruments" standard. Since there is no sufficient study on this subject in our country, it is targeted to contribute to understanding of the subject by including application examples in this study. Methodology- This study uses case method, qualitative interview (in-depth interview), and review method as the research method. The basic reason for selecting this method is that the method is appropriate for the aim of the study, and an effective method investigating a special situation based on insurance companies systematically in the studies on the “Insurance Contracts” standard. Findings- IFRS 17 will be beneficial for both investors and the insurance companies by requiring recognition of all insurance contracts consistently, and by solving the comparison problems created by the TFRS 4. IFRS 17 requires an up-to-date measurement model in which the estimations are measured again in each reporting period. The measurement is based on the building blocks of the discounted, probability-weighted cash flows, a risk correction, and a contractual service margin representing the unearned profit of the contract. Within the scope of IFRS 17, the enterprises have an accounting policy option to recognize the changes in the discount rate or the other assumptions related to the financial risks in the profit or loss, or in the other comprehensive income. Within the scope of TFRS 4, on the other hand, it will provide all companies drawing up insurance contracts with an option to recognize the fluctuation possible to occur when TFRS 9 is applied before implementation of the new insurance contracts standard in the other comprehensive income statement instead of profit or loss. Conclusion- The IFRS 17 insurance contracts standard will replace TFRS 4, and ensure the creation of the single and consistent measurement model that meets the supplementary disclosure requirements intended for increasing the transparency for all insurance contracts prepared by the companies issuing reports in accordance with the International Financial Reporting Standards. Within this scope, the Insurance liabilities will be recognized by using updated values instead of historical cost, and the readers of financial statements will have been provided with more effective and accurate information. 

Anahtar Kelimeler: