Insurance
IFRS 17 — CSM Release to P&L
Releasing a portion of the Contractual Service Margin as insurance services are rendered.
| Account Name | Type | Debit ($) | Credit ($) |
|---|---|---|---|
| Contractual Service Margin (CSM) | Liability (-) | 4,167.00 | - |
| Insurance Revenue (CSM Release) | Revenue (+) | - | 4,167.00 |
💡 Accountant's Note
The CSM is released to insurance revenue as coverage units are provided. A CSM of JOD 50,000 over a 12-month policy releases JOD 4,167/month. This is the core IFRS 17 profit recognition mechanism.
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