United States

Accounting for Revenue is Changing: What’s the Impact for Insurers?

Jun 20, 2016
From the Financial Reporting View and the IFRS Institute

KPMG’s ISG recently issued Accounting for Revenue is Changing: What’s the Impact for Insurers?, which highlights key effects of IFRS 15, Revenue from Contracts with Customers, on insurance companies, and identifies the next steps that insurers that apply IFRS should take to successfully implement the new standard. The publication also reflects the final amendments to IFRS 15.

IFRS 15 is effective for entities that apply IFRS for annual periods beginning on or after January 1, 2018. Earlier application is permitted.