Structures of insurance companies’ financial statements (income statement, balance sheet, cash flow statements) vary than structures...
Structures of insurance companies’ financial statements (income statement, balance sheet, cash flow statements) vary than structures the non- insurance 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
Homework Answers
in normal companies , financial statements of non insured companies as, balance sheet, comprehensive income and statement ,
statement of cash flow statement, statement of changes in equity, notes to accounts .
In Saudi Insurance companies, financial position as balance sheet i.e what it shows the position of company as on reporting date , & remaining as same as above normal companies. different thing is they named donation as zakat i.e payable as per their norms .
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Structures of insurance companies’ financial statements (income
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