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China 's short-term insurance income accounting problems in

Author: LiXianHui
Tutor: AiSunZuo；ZengXiaoLing
School: Southwestern University of Finance and Economics
Course: Insurance
Keywords: Short-term insurance Income Confirm Measure
CLC: F235
Type: Master's thesis
Year: 2005
Downloads: 131
Quote: 0
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Abstract

Income in a market economy is an extremely important concept, it is an important basis for the public to judge an important indicator of a business enterprise decision. Many developed countries, the insurance business division for long-term insurance, short-term insurance, respectively, to develop their income confirmation system. Our current legal system is to lump them together, theorists generally agreed that the two should be separate, but the research focus is often on the long-term insurance income, the problem of short-term insurance income does not attach importance to. I believe that this approach is not desirable, the short-term insurance business relative to long-term insurance business, the nature of To simplify the recognition and measurement of the income to be simpler, and improve the recognition and measurement of short-term insurance income system is conducive to to strengthen the understanding of the characteristics of insurance accounting, thus promoting the study of long-term insurance income, and promote the development of China's entire insurance accounting industry. Based on this idea, I began to carry out short-term insurance income research. Figure by short-term insurance income research so that we have some knowledge of insurance accounting, and also provide some meaningful suggestions of our short-term insurance income. The basic point of this study is to select for the financial accounting, this is because: a changing role of accounting people: in the modern society, accounting is no longer a simple means of subsistence, only the employer's life fit in accordance with uniform standards and the legal norms and accounting matters, fair and impartial manner to reflect the business, responsible for important social responsibility. Financial Accounting: Financial Accounting regulatory accounting is becoming the main way of day-to-day accounting. Third, in order to meet the objective needs of the development of China's insurance market. In the international arena, the short-term insurance income accounting has two modes, one is deferred and matching patterns, a balance mode. Deferred match mode by premium income deferred the timing and amount of revenue recognized to the risk should be borne by the insurance synchronization, to varying degrees, in line with the requirements of generally accepted accounting accrual. Recognized in the balance because of its defects, can not be fully embodies the characteristics of the business of the insurance industry, and therefore, although widely used, but is not respected theorists. Balance mode recognized deferred premium income of insurance unexpired risk reserve, with emphasis on premium income of insurance should be the responsibility of maintaining the principle of independent, both unrelated, it is to take care of the basic characteristics of the insurance business to compared with the matching mode, there are a lot of advantages, and therefore respected in insurance accounting theory. But there are premium revenue recognition process can not be consistent with the principles recognized income with generally accepted accounting principles. Our mining using a combination of the two, but the emphasis on the balance sheet liability method. This paper attempts to sort out the basic framework of the short-term insurance revenue recognition measured, and then, in turn, to verify the problems of China's short-term insurance revenue recognition, in accordance with the universal financial accounting gain theory Therefore, more emphasis on deferred and matching pattern. According to this idea, the basic theory of the text is divided into three parts: the first part: short-term insurance proceeds. In this paper build a basic environment to discuss the short-term insurance income. First, it is clear the concept of short-term insurance income. : The most obvious feature of the short-term insurance is current premiums is only the cost of risk without any savings investments ingredients, means that the premiums do not averaged. The short-term insurance income accounting gains, rather than the economic benefits of short-term insurance. Second, building insurance accounting framework, the discussion of the short-term insurance income is inseparable from the insurance accounting body environment, and the reason for building insurance accounting framework had when insurance has a strong industry characteristics, its accounting application in accordance with industry characteristics of general purpose financial accounting framework to make the necessary corrections. In this paper, based on analysis of the insurance industry characteristics, build the conceptual framework of the insurance accounting. Finally, in the discussion based on the theory of financial accounting income to determine the basic mode of this article identification and measurement of the short-term insurance income, select the full count concept of profit and loss, \Part II: short-term insurance income recognition and measurement. Here, in strict accordance with the theory of general financial accounting income and cost theory to explore the recognition and measurement of revenue and costs of short-term insurance, pointed out that insurance companies in charge of short-term insurance premiums, the premiums is not the insurance company's revenue, but should liabilities caused by short-term insurance business, because, when the insurance company did not provide related services, that is not in line with the meaning of the concept of income \Only when the insurance companies to provide insurance services to insurance liabilities gradually transfer income, in accordance with current law, the insurance company to confirm that the income should be determined in accordance with the underwriting time, but this is unreasonable, in accordance with the premium pricing mechanism should be in accordance with the insurance companies bear the risk of liability to determine. The cost of the insurance companies in addition to the actual claims, operating expenses, insurance guarantee fund expenditures, a large part of the estimated cost. In accordance with the theory of accounting theory \and focus on the catastrophe reserve. Then, I talk about the accounting treatment of business ceded. Think: combined with the relevant provisions of the Insurance Law of the People's Republic of China, advocated the separation of business premium credit the original insurance business revenue proposal is unreasonable, I agree in principle on our current approach, but in order to reflect the 3 reinsurance results related projects should be listed separately. Finally, I listed the short-term insurance income and balance sheet blending the special liabilities generated by the project and its meaning, and should be disclosed in the Statements matters. Part III: Reflection on our short-term insurance income. China's short-term insurance income through continuous improvement, and has made great achievements. In accordance with the existing subjects, that: short-term insurance income = premium income - not - various outstanding claims reserve mentioning slip - premium deficiency reserve mentioning slip - when claims expenses and management fees due to mention slip - Loss adjustment expense reserves slip mentioning, China, in theory, more accurately confirm the short-term insurance income, but there are some conflicting representation, lack of coordination and related regulations. China usually considered: from the insurance guarantee fund and the total reserve the catastrophe reserve role, which makes the extraction of the two is also bound to affect the short-term insurance income, but based on our current insurance protection fund management approach \The company's financial system, the insurance company's accounting system, the People's Republic of China Insurance Act \

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