Banking and Insurance Industry

Insurance-specific accounting

Integrated course, 2.00 ECTS

 

Course content

The core contents should include:
[1] Special features of accounting in the VU
[2] Legal basis
[3] Principles for the annual accounts
[4] VAG regulations on the annual and consolidated financial statements (valuation regulations, structure of the income statement and balance sheet)
[5] Key profit and loss items (premiums, provisions, claims and insurance reserves, cover pool, equity)
[6] Individual further balance sheet items
[7] Publication regulations
[8] IFRS - especially IFRS 9/17
[9] CaseStudy: Comparison of international financial statements (eg VIG, UNIQA, Allianz, AxA, Zurich, etc.)

Learning outcomes

At the end of the module, students are able to assess the economic situation of companies on the basis of the annual financial statements, know the positions of an annual financial statement and are able to understand and calculate it. In particular, students are familiar with the relevant legal framework conditions for the accounting of banks and insurance companies and can apply these and know industry-specific indicators and can interpret them.

Recommended or required reading and other learning resources / tools

Egger/Samer/Bertl, Der Jahresabschluss nach dem Unternehmensgesetzbuch: Der Einzelabschluss, Linde, Wien
Becker/Peppmeier: Bankbetriebslehre, NWB Verlag.
Wagenhofer, Bilanzierung und Bilanzanalyse.
Hartmann-Wendels/Pfingsten/Weber: Bankbetriebslehre, Springer, Berlin
Heidelberg.
Botsis et al., Kennzahlen und Kennzahlensysteme für Banken, Verlag Springer
Gabler, Wiesbaden.
Bertl/Deutsch/Hirschler, Buchhaltungs- und Bilanzierungshandbuch
Nguyen: Rechnungslegung von Versicherungsunternehmen

Mode of delivery

ILV

Prerequisites and co-requisites

Quantitative basics 1

Assessment methods and criteria

Final examination including continuous in-lecture assessment