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CNAA / Theses / 2006 / June /

Specific Features and Improvement Methods of the Income Bookkeeping in Insurance Organizations

Author: Cristina Dolghi
Degree:doctor of economics
Speciality: 08.00.12 - Accounting; Audit; Economic Analysis
Scientific adviser: Andrei Malai
doctor, professor, Free International University of Moldova
Scientific council:


The thesis was presented on the 16 June, 2006
Approved by NCAA on the 28 September, 2006


Adobe PDF document0.17 Mb / in romanian


CZU 657.47.:36(478) (043)

Adobe PDF document 0.76 Mb / in romanian
149 pages


calculation method of actual income earned within the fiscal period, main activity of insurance companies, income from insurance activity, insurance premium, share of the insurance premium earned, direct insurance and coinsurance, re-insurance and retrocession, intermediary in insurance, insurance reserves, regulation for creating insurance reserves, income from amounts released out of insurance reserves, basic insurance premium for calculation of the reserve for unearned premium, calculation of the reserve for unearned premium at the end of the fiscal period, undertaken obligations, 15. standards


The doctor’s dissertation analyzes the existing accounting method in insurance organizations and the influence of insurance reserves on the income from this activity. Also the weak points of the above-mentioned method are pointed out and motivated. The author proposes a method of bookkeeping of insurance premiums for the direct insurance agreements, coinsurance agreements, re-insurance and retrocession agreements and creates a new concept of bookkeeping of actually obtained income within the fiscal period in insurance organizations. The improvement of the calculation techniques of the reserve for unearned premium at the end of the fiscal period and correction of the definition of the basic insurance premium that is the main reason for creating this reserve are motivated.

The dissertation contains a proposal regarding the new method of income bookkeeping from the main activity of the insurance organizations and namely recording in income accounts the share of the insurance premium that was actually earned in the fiscal period and not the total calculated insurance premium for the insurance agreements at the moment the insurer takes the risk on them.

The structure of analytical accounts of income from the main activity of the insurance organizations was developed.

A special attention is paid to bookkeeping of insurance premiums from direct insurance and coinsurance agreements, as well as re-insurance and retrocession agreements. The completion and modification of the Accounts Structure for insurance organizations is suggested in order to keep accounting records of insurance premiums in separate accounts for different types of activities of these legal entities.

The proposal for the calculation of the reserve for unearned premium at the end of the fiscal period is motivated in the dissertation, which increases the level of exactness in calculating the actual income from insurance activity within the fiscal period.

The results of research can be applied in the activity of insurance organizations and have been submitted as proposals to the State Authority for Supervision of Insurance and Non-Government Pension Funds within the Ministry of Finance of the Republic of Moldova, aiming at development of normative acts related to bookkeeping of incomes of these organizations.