General insurance accounting (1978)

Document description

In previous years much of the work undertaken by the working parties on Financial Planning has, in the event, been concerned with Management Accounting rather than Planning as such. The working party this session decided to look specifically at Accounting in its main report with a view to providing a base for subsequent work within the area of Financial Planning. The paper seeks to provide a brief survey of current practice and understanding, and consequently is not intended to say anything new. It is assumed that the reader is familiar with the main elements of general insurance accounts as contained in the revenue/profit and loss accounts and the balance sheet.