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Unit 8: Accounting for Insurance Companies

answers: self assessment notes

1. Assurance 2. Permanent
3. Premium 4. Regular

5. Unit linked 6. Lay-off
7. Claim 8. Agents
9. Initial; renewal 10. Commission
11. False 12. True

13. True 14. True
15. True

8.7 further readings

Books B. B. Dam and H. C. Gautam, Corporate Accounting, Capital Publishing.

Das. K R and Others, Corporate Accounting, LBS Publication.
Edwards, Hermanson, Salmonson and Kensicki, (1991) Introduction to Accounting,
American Institute for Property and Liability Underwriters.
Harrison Deposit Accounting: Accounting for Insurance and Reinsurance Contracts
That Do Not Transfer Insurance Risk, AICPA Statement of Position 98-7.
Sehgal, Dr. A and Sehgal, Dr. D, Advanced Accounting & Corporate Accounting.
Taxman Publishers.

Online links http://www.pwc.com/us/en/insurance/publications/assets/pwc-tax-
accounting-for-insurance-companies.pdf
http://www.pwc.com/en_US/us/insurance/publications/assets/pwc-tax-
accounting-for-insurance-companies-october-2012.pdf
http://www.casact.org/library/studynotes/6_blanchard_selectedl_2007.pdf
http://www.towerswatson.com/assets/pdf/2033/Emphasis2010-1_art3_Ins_
Acctng.pdf

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