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FLMI LOMA 361 — Accounting and Financial Reporting in Life Insurance Companies

Awarding body

Life Office Management Association (LOMA)

Specialization

Insurance

This program is about:

LOMA 361 focuses on concepts non-accountants need to know about financial and managerial accounting in life insurance companies. The course provides a broad understanding of key accounting principles and how they are applied to company operations.

At the end of the program, you will be able to:

  1. Understand accounting function.
  2. Understand accounting principles and concepts.
  3. Understand the financial statements and reports.
  4. Understand asset valuation and accounting for invested assets.
  5. Understand accounting for other assets.
  6. Understand accounting for contractual reserves and other liabilities.
  7. Understand accounting for capital and surplus.
  8. Understand accounting for revenues and expenses.
  9. Understand interpreting financial ratios.
  10. Understand responsibility accounting and cost accounting.
  11. Understand financial analysis, budgeting, internal control, and auditing.

The program provide you with:

  1. Introduction to accounting function and financial Reporting.
  2. Accounting principles and concepts.
  3. Financial statements and reports.
  4. Asset valuation and accounting for invested assets.
  5. Accounting for other assets.
  6. Accounting for contractual reserves.
  7. Accounting for other liabilities.
  8. Accounting for capital and surplus, revenues, and Expenses.
  9. Interpreting financial Ratios.
  10. Responsibility accounting and cost accounting.
  11. Financial analysis, Budgeting, internal control, and auditing.

The program is suitable for:

  • Profession level: All employees who are working in insurance, banking, and other financial services.
  • Education level: students and or recent Diploma or BA degree graduates in business, economics, management, and related fields of science and preferably with some work experience.

Awarding body:

Life Office Management Association (LOMA)

Specialization:

Insurance

Type of certificate:

Achievement

Assessment:

Online Exam

Career progression:

It leads to higher career levels: Fellow Life Management Institute (FLMI).

Venue:

Enma Institue

Tamkeen support scheme:

Professional Scheme

Learner Obligations:

Compliance to program rules & regulations set by the institute and awarding body.

Curriculum

  • Introduction To Accounting Function And Financial Reporting.
  • Accounting Principles And Concepts.
  • Financial Statements And Reports.
  • Asset Valuation And Accounting For Invested Assets.
  • Accounting For Other Assets.
  • Accounting For Contractual Reserves.
  • Accounting For Other Liabilities.
  • Accounting For Capital And Surplus, Revenues, And Expenses.
  • Interpreting Financial Ratios.
  • Responsibility Accounting And Cost Accounting.
  • Financial Analysis, Budgeting, Internal Control, And Auditing.
Duration

30 hours

Effort

2-5 hours/week

Institution

LOMA

Subject:

FLMI LOMA 361 — Accounting and Financial Reporting in Life Insurance Companies

 Quizzes:

Yes

  Language:

English

  Certificate:

Yes

Program Cost

1,050 BD

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Supported by

DCO Towers, Level 14, Diplomatic Area, Office 906, 9th Floot, Al Barghash Tower, Corniche, Al-Khobar

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