Insurance bosses start accounting system training

accounting

An asset is impaired when its carrying value on the balance sheet exceeds the recoverable amount. PHOTO | COURTESY

The Association of Kenya Insurers will train leaders in the insurance industry on the adoption of the new international financial reporting standards (IFRS 17) which will be implemented effective January 1.

The new accounting system will replace IFRS 4 in use since 2004.

PAYE Tax Calculator

Note: The results are not exact but very close to the actual.