ACCT 424 SEU Income Statement Balance Sheet & Cash Flow Statements Discussion Questions

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DescriptionCollege of Administrative and Financial Sciences
Assignment 2
Deadline: 18/2/2023@ 23:59
Course Name: Insurance Accounting
Student’s Name:
Course Code: ACCT 424
Student’s ID Number:
Semester: II
CRN:
Academic Year: 1444/1445 H
For Instructor’s Use only
Instructor’s Name: Habiba Moabber
Students’ Grade: / 15
Level of Marks: High/Middle/Low
Instructions – PLEASE READ THEM CAREFULLY
• The Assignment must be submitted on Blackboard (WORD format only) via
allocated folder.
• Assignments submitted through email will not be accepted.
• Students are advised to make their work clear and well presented, marks may be
reduced for poor presentation. This includes filling your information on the cover
page.
• Students must mention question number clearly in their answer.
• Late submission will NOT be accepted.
• Avoid plagiarism, the work should be in your own words, copying from students
or other resources without proper referencing will result in ZERO marks. No
exceptions.
• All answered must be typed using Times New Roman (size 12, double-spaced) font.
No pictures containing text will be accepted and will be considered plagiarism).
• Submissions without this cover page will NOT be accepted.
Assignment Question(s):
Q1. Structures of insurance companies’ financial statements (income
statement, balance sheet, cash flow statements) vary than structures the noninsurance organization due to the unique features of the insurance companies.
Give a sample of the structures for any selected Saudi insurance company’
financial statements and explain the rational for classifying balance sheet
accounts. Write no less than 300 words (8 marks)
Answer:
Q2. Explain how three of the following elements can affect estimate of loss
reserve. Write no less than 300 words (7 marks)
•
•
•
•
•
•
•
The claims-handling process
Policy and exposure forms
Inflation
Legal trends
Environmental factors
Mix of claimants
Timeliness of claim reporting by claimants
Answer:

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DescriptionCollege of Administrative and Financial Sciences Assignment 2 Deadline: 18/2/2023@ 23:59 Course Name: Insurance Accounting Student’s Name: Course Code: ACCT 424 Student’s ID Number: Semester: II CRN: Academic Year: 1444/1445 H For Instructor’s Use only Instructor’s Name: Habiba Moabber Students’ Grade: / 15 Level of Marks: High/Middle/Low Instructions – PLEASE READ THEM CAREFULLY • The Assignment must be submitted on Blackboard (WORD format only) via allocated folder. • Assignments submitted through email will not be accepted. • Students are advised to make their work clear and well presented, marks may be reduced for poor presentation. This includes filling your information on the cover page. • Students must mention question number clearly in their answer. • Late submission will NOT be accepted. • Avoid plagiarism, the work should be in your own words, copying from students or other resources without proper referencing will result in ZERO marks. No exceptions. • All answered must be typed using Times New Roman (size 12, double-spaced) font. No pictures containing text will be accepted and will be considered plagiarism). • Submissions without this cover page will NOT be accepted. Assignment Question(s): Q1. Structures of insurance companies’ financial statements (income statement, balance sheet, cash flow statements) vary than structures the noninsurance organization due to the unique features of the insurance companies. Give a sample of the structures for any selected Saudi insurance company’ financial statements and explain the rational for classifying balance sheet accounts. Write no less than 300 words (8 marks) Answer: Q2. Explain how three of the following elements can affect estimate of loss reserve. Write no less than 300 words (7 marks) • • • • • • • The claims-handling process Policy and exposure forms Inflation Legal trends Environmental factors Mix of claimants Timeliness of claim reporting by claimants Answer: Purchase answer to see full attachment

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