This In the Headlines looks at the IASB's targeted re-exposure draft on insurance contracts, issued in June 2013, marking a major step forward towards implementing a common insurance reporting framework across much of the world.
The proposals introduce a revised current value measurement model and a new presentation approach. They apply to all insurance contracts, including certain financial guarantees, rather than insurance entities, and to investment contracts with a discretionary participation feature (DPF) issued by insurance companies.
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