By / College Media Unit
Under the patronage of the Dean of Al-Qadisiyah Polytechnic College, Professor Dr. Zaki Mohammed Abbas Bahya, the Department of Insurance Technologies at Al-Qadisiyah Polytechnic College, Al-Furat Al-Awsat Technical University (ATU), organized a training course titled: “Principles of Financial Accounting in the Insurance Sector.”
The course was presented by the Head of the Department, Assistant Professor Ali Mahdi Al-Dawoodi, the Department Rapporteur, Assistant Professor Yas Khudhair Abbas, and Assistant Lecturer Zaid Kadhim Katouf.
The course provided an introduction to financial accounting, its functions, and the users of accounting information. It also highlighted the significance of financial accounting within the insurance sector, the legal and regulatory framework for accounting in insurance companies, their financial structures, the accounting treatment for insurance premiums, and the specific financial statements used by insurance firms.
The course concluded with several key recommendations, most notably:
- Enhancing awareness and knowledge regarding insurance companies and fostering an insurance culture.
- Developing specialized accounting training programs tailored for the insurance sector.
- Adopting standardized accounting principles within insurance companies.
- Ensuring the presence of legal counsel from the onset of investigative procedures.