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- Title
СЧЕТОВОДНАТА ПОЛИТИКА НА ЗАСТРАХОВАТЕЛИТЕ В УСЛОВИЯТА НА КРИЗА
- Authors
Начкова, Мая Янкова
- Abstract
Accounting policy is a universal method that combines accounting principles, rules, instrumentation and specific practical procedures, which form the organisation and technology of accounting reports. It takes into consideration the impact of the economic, political and social environment, and the factors that influence the insurers’ activity. Through their accounting policy, insurers present the economic information about the specific processes and the underlying operations within their insurance business in true and fair, authentic and comparable manner. Accounting policy may be considered a common model for targeted behaviour of insurers within the process of accounting reporting of their specific insurance activity and subsequent disclosure of their performance in the financial statements during different reporting periods, in accordance with the internal and external factors that determine the parameters of the economic environment. In the course of development and practical implementation of their accounting policy, insurers need to observe specific conceptual frameworks, statutory principles, generally accepted rules and approaches that allow them to correctly organise their accounting reports. Based on the properly developed and constantly changing accounting policy, insurers can adequately respond to the changes that have occurred in their insurance activity in the conditions of crisis – economic, political, social or healthcare due to declared pandemics (for example, COVID 19).
- Publication
Knowledge: International Journal, 2020, Vol 41, Issue 1, p151
- ISSN
2545-4439
- Publication type
Article