After successful completion of the course, students are able to

• discuss the field of accounting,
• reproduce the legal requirements for bookkeeping,
• explain types of books (general ledger, journal, subledgers), content of accounts, business transactions that require posting, and charts of accounts,
• explain key terms of bookkeeping and accounting (depreciation, value adjustments, provisions, prepaid expenses),
• solve practical accounting examples with regard to insurance companies,
• determine and interpret simple key figures for insurance companies (loss rate, cost rate, combined ratio),
• explain practical accounting examples for insurance companies.

Areas of accounting, Legal requirements, Accounts, Trial-balances, Provisions, Accruals, Financial statements, Balance-sheet, Income-statement, Accounting examples

The basic contents and concepts are presented by the head of the LVA and illustrated and discussed with the help of examples.

The performance is assessed by an examination at the end of the semester.
See: https://fam.tuwien.ac.at/lehre/pr/

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