IAS 28 (revised 2010) complete the SFAS 62: Contract

1. IAS 28 (revised 2010) complete the SFAS 62: ContractInsuranceIAS 28 (revised 2010): Accounting for Insurance Lossesrevising paragraphs are irrelevant and contradictorywith other IFRSs. IAS 28 (revised 2010) setthings that are not yet regulated in SFAS 62: Contract Insuranceas a set of accounting standards for contractsinsurance. IAS 28 (revised 2010) does not regulate mattersnew in insurance loss accounting. Adoption of IFRS4 Insurance Contracts to ED IAS 62: ContractInsurance does not revoke IAS 28 (revised 1996): AccountingInsurance Losses, just revised so that laterif the entity has a contract of insurance is included in thescope of SFAS 62 and included in the insurancelosses, then it must refer to SFAS 62 and SFAS28 (revised 2010): Accounting for Insurance Losses.Do you agree to the revised IAS 28 toIAS 28 (revised 2010) as the standard k spesificomplete set of accounting insuranceSFAS 62: Contract Insurance? We beg you togiving a reason.2. IAS 28 (revised 2010) does not regulate the newIAS 28 (revised 1996): Accounting for Insurance Lossesrevised only to the things that are not relevant, butvi Copyright © 2010 COMMITMENTS ACCOUNTANT INDONESIAInsurance Accounting SFAS No. ED. 28 (revised 2010)IAS 28 (revised 2010): Insurance Akintansi notset new things in accordance with the developmentgeneral insurance industry is currently in Indonesia. So thatit is possible there are some things that are not yet regulatedin IAS 28 (revised 2010).Does IAS 28 (revised 2010) need to setinsurance in line with developmentsinsurance losses in Indonesia?3. Effective Date and Transitional ProvisionsED IAS 28 (revised 2010): Accounting for Insurance LossesThis is effective for fiscal years beginning onor after January 1, 2012. ED IAS 28 (revised 2010)not set the rules concerning the transition, becauseIt refers to the transition provisions of IAS 25 (revised2009): Accounting Policies, Accounting Estimates andError, which is retrospective.Do you agree with the effective date andED transitional provisions of IAS 28 (revised 2010): AccountingInsurance?Copyright © 2010 BUNCH ACCOUNTANT INDONESIA viiInsurance Accounting SFAS No. ED. 28 (revised 2010)QUICK SUMMARYIAS 28 (revised 2010): Accounting for Insurance Lossesreplaces SFAS 28: Accounting for Insurance Losses.In general, ED IAS 28 (revised 2010): Accounting for InsuranceLosses are not many changes with SFAS 28: AccountingInsurance Losses, but ED IAS 28 (revised 2010) hasadjusted with SFAS 62: Contract Insurance and other IFRSsas well as some differences as follows:About ED IAS 28(Revised 2010)SFAS 28 (1996)Purpose The purpose of ED IAS 28(Revised 2010) isto completeSFAS 62: ContractInsurance.Not regulated.Applied scope forinsurance accountinglosses, butshould be included in thescope of SFAS62: Contract Insuranceas a contractinsurance.Presentation of the reportbusiness financeinsurance losseswithout referring toSFAS 62.