LOMA 361 Accounting and Financial Reporting in Life Insurance Companies Course

LOMA 361 provides a broad exposure to financial and managerial accounting in life insurance companies, including the corporate and regulatory environment in which accounting functions occur.

Upon completion of the course, trainees will be expected to:
• Understand the Accounting Function and Accounting Regulation and Monitoring
• Understand of the Accounting Principles and Concepts
• Understand the Financial Statements and Reports
• Understand the Asset Accounting and Invested Assets
• Understand the Accounting for Other Assets, Reserves, Other Liabilities, Capital and Surplus, Revenues and Expenses
• Understand the Financial Analysis
• Understand the Responsibility Accounting
• Understand the Cost of Accounting, Cost Analysis and Budgeting.
• Understand the Internal Control and Auditing

• The Accounting Function
• Accounting Regulation and Monitoring
• Accounting Principles and Concepts
• Financial Statements and Reports
• Asset Accounting and Invested Assets
• Accounting for Other Assets, Reserves, other Liabilities, Capital and Surplus and Revenues and Expenses
• Financial Analysis
• Responsibility Accounting
• Cost Accounting, Cost Analysis and Budgeting
• Internal Control and Auditing

The course is assessed via an online examination after course completion where trainees need to complete a set of questions. Trainees who score higher than 70 and above out of 100 will be awarded a certicate of completion from LOMA.

All employees who are working in the Insurance, Banking & other Financial Services.

30 Training Hours

Trainees should have:
• Basic understanding of Financial Insurance.
• Good command of the English language.