UFRS 17 SİGORTA SÖZLEŞMELERİ KAPSAMINDA ÖNGÖRÜLEN ÖLÇÜM YAKLAŞIMLARINDAN GENEL MODEL YAKLAŞIMI VE BİR UYGULAMA

GENERAL MODEL APPROACH OF MEASUREMENT APPROACHES UNDER IFRS 17 INSURANCE CONTRACTS AND AN APPLICATION

Özet

Sigorta muhasebesi, sigorta sektöründe faaliyet gösteren şirketlerin muhasebe uygulamalarını ve finansal raporlamalarını içeren sektörel bir muhasebe sistemini yansıtmaktadır. Bir ihtisas muhasebesi olarak sigorta muhasebesi, uzmanlık isteyen ve sigortacılık sektörünün iyi bir şekilde anlaşılmasını gerektiren özellikli bir muhasebe dalıdır. Türkiye’de sigorta muhasebesine yön veren çeşitli düzenlemeler bulunmaktadır. Bunların başında Hazine Müsteşarlığı tarafından yayımlanan düzenlemeler gelmektedir. Bu düzenlemeler haricinde muhasebenin temel kavramları, genel kabul görmüş muhasebe ilkeleri, Maliye Bakanlığı tarafından uygulanması öngörülen düzenlemeler, Sermaye Piyasası Kanunu kapsamında uygulanması öngörülen düzenlemeler gibi düzenlemeler de bulunmaktadır. Ancak zaman içerisinde gelişen ve ülkemizde de sigorta şirketleri tarafından uygulanması zorunlu olan Uluslararası Muhasebe ve Finansal Raporlama Standartları (UMS ve UFRS’ler), sigorta muhasebesine yön veren düzenlemeler içerisinde ayrı bir öneme sahiptir. Uluslararası Muhasebe Standartları Kurulu tarafından yayımlanan UMS ve UFRS’lerden biri de UFRS 17 Sigorta Sözleşmeleri Standardı’dır. UFRS 17, sigorta sözleşmelerinin muhasebeleştirilmesi ve raporlanmasına yönelik alışılagelmiş uygulamaları kökten değiştirecek yeni birtakım özellikler içermektedir. Bunlardan biri de sigorta sözleşmelerinin muhasebeleştirilmesi ve raporlanmasında esas alınması gereken ölçüm yaklaşımlarıdır. Bu çalışmada söz konusu ölçüm yaklaşımlarından Genel Model Yaklaşımı tanıtılacak olup, bu yaklaşıma ilişkin örnek bir uygulamaya yer verilecektir.

Abstract

Accounting is the process of recording, classifying, reporting, analyzing and interpreting the financial transactions. This process is intended to provide useful information about a business entity’s financial status to users of financial statements. In Turkey, accounting is governed by a common set of accounting rules. These are basic concepts of accounting, generally accepted accounting principles, national and international accounting and financial reporting standards and legislation provisions. Ministry of Treasury and Finance, Capital Markets Board of Turkey and Public Oversight Accounting and Auditing Standards Authority currently require publicly owned companies to follow these rules. Over time, all these organizations aim to align their regulations with International Accounting and Financial Reporting Standards (IASs and IFRSs). Since 2001, the International Accounting Standards Board (IASB) has worked on a set of these global standards. The IASB is an independent international accounting standard setter based in London. On 18th May of 2018, the IASB issued a new standard on insurance contracts. This new Standard, IFRS 17 Insurance Contracts, establishes a new accounting model and new disclosure requirements. IFRS 17 can be seen as one of the most significant changes to insurance accounting. It establishes principles for the recognition, measurement, presentation and disclosure for insurance contracts issued, reinsurance contracts held and investment contracts with discretionary participation features issued. The objective of IFRS 17 is to ensure that entities provide relevant information in a way that faithfully represents insurance contracts. This information gives a basis for users of financial statements to evaluate the effect that contracts within the scope on the financial position, financial performance and cash flows of an entity. IFRS 17 should be applied for annual periods beginning on after January 1, 2021. IFRS 17 shall supersede the previous IFRS 4 Insurance Contracts. According to the IASB, IFRS 4 was an interim standard that did not provide transparent and comparable information about the effect of insurance contracts on financial statements. The previous standard also allowed entities to use their national accounting requirements. So, the IASB undertook a project to make insurers’ financial statements more transparent, comparable and consistent. IFRS 17 is the result of this project. IFRS 17 brings a lot of innovative and important changes to insurance accounting. One of these changes is about measurement approaches. According to IFRS 17, there are three different measurement approaches: the General Model Approach (the Building Block Approach), the Premium Allocation Approach and the Variable Fee Approach. The General Model Approach is the basic model that is applicable to all insurance contracts and is based on a series of four building blocks. The first building block is the estimation of future cash flows. IFRS 17 requires insurance companies to estimate cash flow for an insurance contract. The second building block is discount rate. The Standard requires insurance companies to use discount rates based on market rates of the same currency, duration and level of liquidity. The third building block is risk adjustment. Risk adjustments should represent the compensation that the insurer requires for bearing the uncertainty in the amount and timing of the cash flows. The fourth building block is the contractual service margin. The contractual service margin is a component of the carrying amount of the asset or liability for a group of insurance contracts representing the unearned profit that the entity will recognize as it provides services under the insurance contracts in the group. According to the Standard, no gains are recognized in profit or loss at the inception of the contract because any of contract’s performance obligations has not been satisfied yet. For this reason, the contractual service margin cannot be negative either at issue or subsequently. If the contract is onerous, then the contractual service margin is equal to zero. IFRS 17 allows the spreading of profits on insurance contracts over their duration. If the contractual service margin is decreasing, then the losses should be recognized immediately. If it is decreasing, then the profits should be firstly used to compensate previous losses and the remaining amount should be recognized. The contractual service margin should be amortized over the duration of a contract. Recognizing the contractual service margin over the duration of a contract should be on a systematic basis that reflects the remaining transfer of services and interest should be accreted to reflect the time value of money. The objectives of this study are to introduce the General Model Approach theoretically and show how the value of an insurance contract should be measured, accounted and reported under this approach.

Anahtar kelimeler: UFRS 17 Sigorta Sözleşmeleri, Genel Model Yaklaşımı, Blok Yapı Yaklaşımı