Financial Reporting for Non-Financial Managers

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What You Will Learn:

Many operations managers, systems professionals, executives, service providers, other non-financial managers and even the board of directors are uncomfortable with their ability to read and understand the financial statements of P&C insurance companies.

This seminar has been especially designed for non-accountants who work in or with property and casualty insurance companies to familiarize them with important accounting concepts and improve their ability to discern and interpret the key reporting elements of the “Yellow Book”, the NAIC P&C Annual Statement. Factors that drive key performance ratios will also be discussed.

Ideal for a Private Seminar:  This seminar is a popular choice for a private seminar. Using your company's financial statements, Booke Seminars will present this material at your location to your management team and/or board of directors. This arrangement creates an excellent opportunity for an in-depth discussion of your financial statements.
The entire team will come away with a better understanding of your financials and an improved perspective of your organization.

Seminar Content:

• Framework of statutory and GAAP accounting
• Overview of the balance sheet and income statement
• Key concepts of premium and loss accounting
• Discussion of key industry-specific issues
  • Acquisition costs
  • Calendar year and accident year losses
  • Nonadmitted assets
• Illustrations of reinsurance accounting and Schedule F
• Loss development issues and basic actuarial concepts
• Characteristics of insurer investment portfolios
• Highlights of statutory and GAAP financial statement differences
• Discussion of key ratios and performance measures

Recommended Field of Study: Accounting

What Our Attendees Say:

"Jeff is extremely knowledgeable and he was able to explain info in a
way that "nonfinancial" people can understand. Great seminar."

"Excellent presentation that was understandable for non-financial
people, yet kept those with more degree of financial savvy interested
and engaged."

"Information was very informative and relevant to my job. I learned
more about how what we do impacts our financials."

Prerequisites:

No advance preparation or prerequisite is required for this Annual Statement overview.

Class Times:

Class begins at 8:30 a.m. and ends at 5:00 p.m. on the first day and at 3:00 p.m. on the second day.

Estimated CPE Credit: 14.0 hours

Tuition: $1495

Upcoming seminar dates and locations:

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