This subject Contains account related aspect of Insurance industry from elementary principles of accounts to compliance with IFRS. In IC26 subject we will go through final accounts, revenue account and balance sheet too. Financial analysis is also a very important chapter in this subject. This subject is totally compiled for Indian insurance industry basically. All financial reporting is very important for insurance industry to determine the risk in the financial system of Insurance Company.
Associate IC26 is basically covers below 16 points.
1 Elementary Principles of Accounts
2 Life insurance business: Important types of insurance
3 Accounting Procedures – Premium Accounting
4 Accounting Procedures–Disbursements
5 Accounting Procedure: Expenses of Management
7 Final Accounts, Revenue Account and Balance Sheet
8 Budget and Budgetary Control
9 Innovative Concepts in Financial Reporting
10 Accounting Standard Applicable to Life Insurance Com
11 Financial Analysis
12 Management Environment in India
13 Application of Financial Management Concepts in Insu
14 Taxation (Current Scenario)
15 Anti-Money Laundering Guidelines and PML Act.
16 Compliance with IFRS (Involving Broader Concepts)