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1. www.accountingweb.co.uk › tax › business-taxOnlyFans in awkward position over £11m VAT bill - AccountingWEB

   www.accountingweb.co.uk › tax › business-tax

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   Mar 21, 2023 · The OnlyFans platform enables the public to access adult-specific social media content, such as videos, photos or messages placed by creators for a fee, from anywhere in the world. Fenix charges creators 20% of the fee that is paid by users, or “fans” as they are known, in order to access content. OnlyFans essentially acts as an agent for ...

2. assets.ey.com › content › damApplying IFRS 17 - EY

   assets.ey.com › content › dam

   Explore the updated IFRS 17 guidance and insights provided by EY to help apply the new insurance contracts standard.

3. assets.ey.com › content › damAccounting for certain life insurance and annuity products

   assets.ey.com › content › dam

   Jul 19, 2023 · The accounting and financial reporting guidance for certain long-duration insurance and annuity contracts is codified in Accounting Standards Codification (ASC) 944, Financial Services — Insurance. Our publication will help you understand the accounting and financial reporting requirements for certain long-duration insurance and annuity ...

4. www.frc.org.uk › uk-accounting-standards › frs-103FRS 103 Insurance Contracts - FRC (Financial Reporting Council)

   www.frc.org.uk › uk-accounting-standards › frs-103

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   Name. FRS 103 Insurance Contracts (September 2024) Publication date. 10 September 2024. Type. Standard. Notes. The September 2024 edition of FRS 103 incorporates all amendments issued up to September 2024. Some requirements, including those introduced by the Periodic Review 2024 amendments, are not mandatory at the time of publication.

5. www.theactuary.com › features › 2019/12/2019VFA: How do your contracts measure up? | The Actuary

   www.theactuary.com › features › 2019/12/2019

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   Dec 5, 2019 · IFRS 17 provides a specific measurement model for insurance contracts with direct participation features, known as the variable fee approach (VFA). This refers to the fact that such contracts are characterised by a variable fee that the entity charges in exchange for investment-related services. The variable fee is treated differently under the ...

6. accountend.com › understanding-failure-rate-curvesUnderstanding Failure-Rate Curves: Definition, Examples, and ...

   accountend.com › understanding-failure-rate-curves

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   A Failure-Rate Curve is a crucial concept used in various fields to understand the rate at which systems, components, or entities fail over time. This article explores what Failure-Rate Curves represent, provides examples to illustrate their application in different contexts, discusses their significance in risk management and decision-making, and explains how they are interpreted and […]

7. People also ask

   Why is insurance risk transferred by a fixed fee service contract?

   • Insurance risk transferred by the contract arises primarily from the customer’s use of services, rather than from uncertainty over the cost of those services. The Board had proposed originally to exclude fixed fee service contracts whose primary purpose is the provision of services from the scope of IFRS 17.

   Applying IFRS 17 | EY

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   Should non-performance risk be reflected in fulfilment cash flows?

   • The non-performance risk of the insurer must not be reflected in the fulfilment cash flows of the insurance contracts issued (see 9.2). Non-performance risk of the reinsurer should be included in the measurement of the fulfilment cash flows of the reinsurance contracts held (see 11.4.4 below).

   Applying IFRS 17 | EY

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   Is a reinsurance contract carrying amount nil before cash flows occur?

   • The carrying amount of a reinsurance contract held is nil before any cash flows occur or any service is received. Thereafter any difference that arise between the carrying amount of the reinsurance contract held and the underlying insurance contracts are not accounting mismatches, but differences caused by: 362 362 IFRS 17.BC309E.

   Applying IFRS 17 | EY

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   What is a failure-rate curve?

   • A Failure-Rate Curve is a crucial concept used in various fields to understand the rate at which systems, components, or entities fail over time.

   Understanding Failure-Rate Curves: Definition, Examples, and Practical

   accountend.com/understanding-failure-rate-curves-definition-examples-and-practical-application/

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   Do discount rates reflect the characteristics of insurance contracts?

   • Discount rates will need to reflect the characteristics of the insurance contracts. Types of insurance contracts vary significantly, so there will be no single discount rate (curve) that will fit the characteristics of all insurance liabilities.

   Applying IFRS 17 | EY

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   Can reinsurance be accounted for under the variable fee approach?

   • Reinsurance held cannot be accounted for under the variable fee approach even if the underlying direct insurance contracts are accounted for under the variable fee approach (see 11.7 below). modified version of the general model is applied by cedants for reinsurance contracts held.

   Applying IFRS 17 | EY

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8. www.accaglobal.com › content › damTechnical factsheet FRS 102 – small company reporting

   www.accaglobal.com › content › dam

   FRS 102 is part of a suite of standards that form ‘UK GAAP’. The standards are listed below and the FRC re-issued the suite of UK GAAP in March 2018 which consolidates all changes made to the standards since their introduction, including the triennial review amendments. All references to UK GAAP in this factsheet are to the March 2018 editions: