Purpose and Application Peculiarities of Management Accounting in Insurance Companies

Markaryan, S.E.; Snetkova, T.A.

doi:10.5901/mjss.2015.v6n1s3p375

Cited by 3 publications

(3 citation statements)

References 8 publications

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“…In Russia the majority of large companies have full-fledged management system of enterprise resources. Small and medium-sized companies, in their turn, use similar, but more specialized functional components [Markaryan and Snetkova, 2015]. This fact proves that Russian companies can use the existing ERP or EMS systems as the basis for the integration of MFCA method, but on the condition that the benefits of its usage exceed the costs of its implementation.…”

Section: Discussionmentioning

confidence: 94%

The use of material flow cost accounting for process losses reduction

Ivanovskaya¹,

Куликова²,

Vetoshkina³

et al. 2019

Proceedings of the Volgograd State University International Scientific Conference "Competitive, Sustainable and Safe Developmen

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Material Flow Cost Accounting allows you to accurately monitor the physical and monetary value of waste, which increases the visibility of environmental costs and gives managers possibility to identify areas of cost savings. The article discusses the general aspects of Material Flow Cost Accounting and a comparative analysis of methods for the evaluation of the cost of irrecoverable waste in Material Flow Cost Accounting and traditional cost accounting. In order to increase the usefulness of the information generated within Material Flow Cost Accounting, it is proposed to use this method in the whole chain of product delivery to the final customer. Material Flow Cost Accounting (MFCA) is a powerful tool for environmental management that can be applied to any organization, regardless of industry. Material Flow Cost Accounting helps companies to increase the transparency of information on technological losses, thus to reduce the level of environmental pollution and increase the efficiency of business running.

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Section: Discussionmentioning

confidence: 94%

The use of material flow cost accounting for process losses reduction

Ivanovskaya¹,

Куликова²,

Vetoshkina³

et al. 2019

Proceedings of the Volgograd State University International Scientific Conference "Competitive, Sustainable and Safe Developmen

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“…Proponents of the concept of "Improved budgeting" in principle do not question the very tool of traditional budgeting [13]. The main objectives of this approach are to improve efficiency, reduce and simplify planning and budgeting.…”

Section: Advances In Economics Business and Management Research Volmentioning

confidence: 99%

Developing budgeting and control in throughput accounting system

Sokolov¹,

Ельсукова²,

Snetkova³

2018

Proceedings of the International Conference "Economy in the Modern World" (ICEMW 2018)

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The relevance of the article is the research of topical issues of budgeting costs and results in management accounting on the basis of principles of the theory of constraints. The method "Throughput accounting" is one of the modern developing methods of management accounting in different countries, European and Asian. In the article, the authors observed the lack of theoretical developments and researched the sphere of accounting and costs planning and results on the basis of new theories of management. The authors researched theoretical and methodical questions of the Throughput accounting method, and deeply developed the approach to budgeting of costs and results in the method of management accounting. Budgeting is an important part of the management process at the enterprise, interacting with the management accounting system. The basic results of the research are development of budgets forms: costs and results; examples of drawing up of the costs budget, throughput budget, such as operational costs budget, general variable costs budget and the investment budget in the real production enterprises. Developing budgeting in the throughput accounting system is to be shared with new budgeting methods.

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“…At the same time, the structure of the capital allocation of insurance companies is an important factor in financial risks, and, certainly, affects the financial results of their activities in the context of digitalization (Malyugina et al 2020;Shakhmametyev et al 2018;Tsvetkova et al 2019). In this case, factors, such as the volume of long-term and current financial investments, have a significant impact (Markaryan and Snetkova 2015;Stafievskaya et al 2015;Tsvetkova et al 2019).…”

mentioning

confidence: 99%

Financial Risk and Profitability Management in Russian Insurance Companies in the Context of Digitalization

Ilkevich

Listopad

Malinovskaya

et al. 2022

Risks

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The dynamics of the financial reliability of insurers show rather unstable and often unfavorable trends, which indicate an increase in the risks of their financial insecurity and requires searching for reserves to improve their financial condition in the context of digitalization. The aim of the present research is to develop approaches for managing financial risks and profitability in Russian insurance companies in the context of digitalization. Structurally, the study consisted of a comprehensive analysis of the insurance market in the Russian Federation, as well as an identification of the components of the risk management process of insurance companies in the context of digitalization. Documents containing key features of the risk management system were selected for the study. We determined that to optimize the structure of the insurance portfolio, the insurer must regulate its portfolio by increasing the share of insurance receipts for personal insurance, which is highly profitable but occupies a meager share in the insurance portfolio. To do this, it is necessary to carry out active work to expand the insurance field, in particular, in relation to voluntary personal insurance, attracting a significant number of policyholders by conducting explanatory mass work using advertising events and agency-broker networks regarding the need and effectiveness of such insurance. Further research prospects should include proposals for replenishing the insurance portfolio with new types of personal insurance, making adjustments to the tariff policy of insurers for all types of voluntary personal insurance, and determining optimal tariffs.

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Purpose and Application Peculiarities of Management Accounting in Insurance Companies

Abstract: Organization of a management accounting in insurance companies

Cited by 3 publications

References 8 publications

The use of material flow cost accounting for process losses reduction

The use of material flow cost accounting for process losses reduction

Developing budgeting and control in throughput accounting system

Financial Risk and Profitability Management in Russian Insurance Companies in the Context of Digitalization

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