Financial Statements

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Level: Intermediate

Why you need this course: After completing this course, you'll be able to understand and analyze the data contained in insurer financial statements.

Upon successful completion of this course, you should be able to:

  • Explain the purpose of financial statements
  • Identify who uses insurer financial statements
  • Describe what is listed on a balance sheet
  • Define what an income statement is used to measure
  • Explain what the statement of changes in owners' equity outlines
  • Describe how to use the statement of cash flows to determine an organization's overall financial condition
  • Define the relationships among financial statements
  • Identify what the NAIC annual statement contains and why that information is important
  • List types of entities that require consolidated financial statements and why

Cost: $20 per Professional Development Hour (PDH). Information on Professional Development Hours (PDH) provided can be found here.

Financial Statement Topics Include:

  • Purpose of financial statements
  • Users of insurer financial statements
  • Balance sheet
  • Income statement
  • Statement of changes in owners' equity
  • Statement of cash flows
  • Relationships among financial statements
  • NAIC annual statement
  • Consolidated financial statements

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