Specific Features of the Accounting of Insurers’ Expenses
Specific Features of the Accounting of Insurers’ Expenses

Author(s): Maia Natchkova
Subject(s): Economy, Business Economy / Management, Accounting - Business Administration
Published by: Университет за национално и световно стопанство (УНСС)
Keywords: Insurers; expenses; accounting; financial statements
Summary/Abstract: This publication highlights the specific features of the accounting of insurer’s expenses. Insurance expenses are specific depending on the type of insurance carried out - direct insurance, active or passive reinsurance. Special focus is also put on the types of the expenses that insurers establish, depending on the type of the insurance license they are holders of, and on the specific accounts to which established insurance expenses are booked on. The objective is to present, justify and outline the specific characteristics of the accounting of insurer’s expenses in terms of content, type and ways of occurrence. Information on insurance and other expenses received during the year must be disclosed in the insurers’ financial statements truthfully and accurately, in all material respects, in compliance with accounting rules, principles, concepts and conventions.

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