Company-wide Training (IFRS 17 / K-ICS)

Through this course, participants will gain knowledge of the fundamental principles of financial statement preparation under the new system and learn methods to review key strategies for profit and loss management.

Instructor : Jeong-hoon Park

Course Format : on-line

Course Duration : 4 h 58 m

Study Period : 60 day

Course Fee : 1000$

Number of Lectures : 6

Company-wide Training (IFRS 17 / K-ICS)

Through this course, participants will gain knowledge of the fundamental principles of financial statement preparation under the new system and learn methods to review key strategies for profit and loss management.

Instructor : Jeong-hoon Park

Course Format : on-line

Course Duration : 4 h 58 m

Study Period : 60 day

Course Fee : 1000$

Number of Lectures : 6

Introduction

This training module is designed to help participants systematically acquire knowledge of the fundamental principles for preparing financial statements required under the new system.
The course covers key principles and practical approaches to consider when preparing financial statements, analyzes the structure of revenue and expenses, and teaches essential strategies for effective profit and loss management.
It aims to enable participants to accurately understand the critical aspects of financial statement preparation under the new system.

In particular, the course offers opportunities to learn practical review methods and case applications for profit and loss management.
Ultimately, this training supports participants in acquiring essential skills and knowledge that can be immediately applied in practical work settings.

Target Audience

This course is designed for undergraduate and graduate students majoring in accounting or actuarial science, individuals interested in the fields of accounting and actuarial science, job seekers, and actuaries or professionals working in international or multinational insurance companies.

Direction of Profit and Loss Management under IFRS 17

Direction of Profit and Loss Management under IFRS 17

Course Category

1. Actuarial Fundamentals
[Open in 2025]

- Premium and Surrender Value Calculation using Actuarial Tables
- Understanding Actuarial Science

2. Company-wide Training
(IFRS 17 / K-ICS)

- Examples of IFRS 17 Accounting Treatments
- Introduction to K-ICS
- Direction of Profit and Loss Management under IFRS 17

3. Product Development (TBD)
[Open February 2025]

- Practical Training on PV Generation Using Actuarial Tables
- Profit and Loss Analysis for New Products
- Development of Risk Rates

4. Assumption Management and Calculation

-Methodologies for assumptions of risk/policyholder behavior/expense allocation/economics
- Actuarial Assumption Management Strategies (Audit Trail)

5. Advanced IFRS 17 Actuarial Closing

- Advanced IFRS 17 Actuarial Closing Practices

6. K-ICS

- Overview of Risk Management in Insurance Companies
- Understanding Market Risk
- Understanding Interest Rate Risk
- Understanding Insurance Risk
- Insurance Risk Internal Model

7. Reinsurance
[Open in January 2025]

- Traditional Reinsurance
- Co-Reinsurance
- Excel-Based Reinsurance Profit and Loss Forecasting

8. Management under IFRS 17 and K-ICS Standards

-Direction of Profit and Loss Management under IFRS17
- ALM-Based Management
- MCEV-Based Management
-Risk Based Asset-Liability Portfolio Management

9. Managerial Accounting
[Open coming]

- Biz Planning
- Selection of KPIs under IFRS 17 and K-ICS Standards
- Variable Product Hedging

10. Actuarial Software
[Open in 2025]

- Understanding Actuarial Software
- Pricing Practice
- Valuation Practice
- Internal Management Practice (Business Planning, ALM, etc..)

11. ERM (Enterprise Risk Managment)
[Open in 2025]

- Basic ERM Risk Management
- Insurance Risk Concept and Internal Model

12. Reporting

- Supervisor Report Preparation Method
- Automation System Example

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