Accounting of Insurance Companies
Instructor: Горан Радивојац, PhD, Associate Professor
Specifics of accounting of insurance companies in comparison to the accounting of production, trade or other services companies are conditioned by the very nature of their business. Business activities, such as property and personal insurance, are in fact specific and therefore have a specific accounting treatment. The goal of studying this subject is understanding and mastering the specifics of booking business events regarding the premiums, damage claims, prevention, overhead allowances, reserves for contingencies, warranty reserves, mathematical reserves, unearned premiums, unpaid claims for damages in the current accounting period, reinsurance, coinsurance, etc. In addition, the goals are mastering the specificity of accounting of insurance companies, financial statements, as well as analysis of the results of business operations of insurance companies.
||9th or 10th
|Number of classes per week:
PhD Associate Professor
||Insurance, Financial Accounting, Management Accounting
|Learning Outcomes (gained knowledge):
||After passing the exam students of this study will understand, know to explain and practically apply in accounting categories such as insurance premiums, damage claims, prevention, overhead allowances, reserves for contingencies, warranty reserves, mathematical reserves, unearned premiums, unpaid claims in the current accounting period, reinsurance, coinsurance, etc. In addition, students will understand and be able to explain the structure of the financial statements of insurance companies (balance sheet, income statement and statement of cash flows). The structure of the financial statements of insurance companies is very different compared to the structure of the financial statements of other companies.
||Characteristics of accounting of insurance companies, characteristics of financial statements of insurance companies, analysis of performance of business operations of insurance companies, risk management in insurance companies, insurance fusion, problems of calculating the added value in insurance, calculation of costs in insurance companies, asset and liability management in insurance companies.
|Teaching Methods and Learning Activities:
||Lectures and exercises within the planned number of classes.
||Lukić, R. (2009). Accounting of insurance companies. Belgrade: Faculty of Economics.
|Types of Assessment for the subject:
||Colloquium I (0-20 points); Colloquium II (0-20 points); Final exam (0-50 points); Attendance (2point); Class activities (seminar papers, discussions, case studies) (0-8 points)
|Special Remarks for the subject: