Course details
This course is designed for participants who need to know how to prepare financial statements of Insurance companies. The requirements of IFRS will be applied in the preparation of Financial Statements on this course.
Learning Outcomes
On successful completion of this course, participants will be able to:
- Explain the basics fundamentals of insurance accounting
- Prepare basic ledger accounts under the double entry system
- Record insurance premium and receipts from credit customers
- Explain and account for earned and unearned premium and irrecoverable debts
- Record claims paid, outstanding claim and Incurred but not recorded liability
- Prepare an initial trial balance identifying and correcting errors using journal entries
- Prepare financial statements including Statement of Comprehensive Income (Proft and Loss Account) and Statement of Financial Position (Balance Sheet).
Target Audience
Employees in the early stages of their career in the insurance industry, Employees in other accounting firms, Non-Insurance employees who wish to acquire basic insurance accounting knowledge
Entry Requirements
Accounting 1: Recording Financial Transactions 210
Updated on 08 November, 2015Course Location
About Bahrain Institute for Banking & Finance
We_They plays a vital role in the training and development of human capital in the Kingdom of Bahrain. Our commitment to excellence has strengthened our position as the top provider of quality education across all major business disciplines. We serve as a partner to numerous world-class institutions; delivering thought leadership, research and advisory, assessment and training in the areas of Accounting and Finance, Academic, Executive Development, Banking, Leadership and Management, Insurance, Islamic Finance and Information Technology; resulting in a complete business solution.
We_They covers a wide spectrum of subject matter, with over 300 different courses offered to the financial and corporate market; tailor-made training solutions based on organisational requirements; specialised programmes taught by leading market specialists; and professional qualifications and degree programmes in partnership with major international organisations.
We_They continues to exceed global benchmarks for many of the qualifications it offers with its affiliates.
Since its inception in 1981, We_They has grown from training 450 applicants a year primarily within the banking industry, to 20,000 drawing participants from all sectors of the economy, and are proud to have qualified over 200,000 learners in the last 3 decades.
Our faculty comprise of market practitioners, academics and qualified senior industry professionals. Their perse backgrounds ensure an enriched participant experience, striking the perfect balance between theory and practice.
We_They has made its mark internationally with clients in Asia, Africa, Europe, USA and the Middle East, well on its way to becoming the global institute of choice.
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