The Accounting and Managerial Implications of IAS/IFRS in the Financial Statements of Italian Insurance Companies

This survey initially aims to briefly consider from a business point of view the typical aspects of insurance and the setting up of national/italian accounting practice on the insurance companies’ economic components and assets. Secondly, it draws attention to the problems and the development of the IASB Insurance Project (in light of the contents of the comment letters received by the IASB as a result of the adoption of ED / 2010 / 8 on insurance contracts) and finally, (the last paragraph in relation to the previous discussion) it makes an analysis of how and whether those assumptions on the IASB models already mentioned can be considered applied; it also attempts a comparison, only where possible, including the probable results deriving from the adoption of a Fair value accounting system (as in Phase I) or the fulfilment Present value of cash flows (chosen in Phase II).