Insurance
IFRS 17 — Reinsurance Contract Held (CSM Asset)
Recording the CSM for a reinsurance contract held by the cedant.
| Account Name | Type | Debit ($) | Credit ($) |
|---|---|---|---|
| Reinsurance Contract Asset (CSM) | Asset (+) | 8,000.00 | - |
| Reinsurance Premium Ceded (Net of CSM) | Expense (-) | - | 8,000.00 |
💡 Accountant's Note
Under IFRS 17, reinsurance contracts held by the cedant are measured separately and can have a CSM asset (when the expected net cost of the reinsurance is less than the premium paid — i.e., the reinsurance is 'good value').
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