Theoretical and Applied Economics
No. 3 / 2011 (556)
Implications of European Directives in the Assessment of Insurance Companies
“Ştefan cel Mare” University of Suceava
Abstract. The objective of this paper is to present a vision in the sphere of the problematic of assets and liabilities’ evaluation that are reflected in the balance sheet of the insurance companies, inside the theory of the contingent claims, and of the marginal theory inside the insurance sphere. Our references take into consideration all the principles and evaluation norms of a company’s liabilities, company operating in the life insurance domain, including the general request introduced by the IFRS. Also, we argument the fact that the making of the new IFRS standards’ frame must take into consideration the accelerated globalization of the trading and the internalization of the financial markets, factors that have made pass onto the first place the necessity of a standardized financial reporting system. Because for so long the evaluating inadequacy of the assets at their fair value and the liabilities at their fair cost has persisted for so long, we underline that we find even in this a vast debate subject between the insurance companies’ representatives and the IASB, especially in the second step of the IFRS4’s implementation in the life insurance contract.
Keywords: incoherent evaluation; insurance contract; risks; assets/liabilities; balance sheet.
Contents
- Antithetic Foundations of Economics
Marin DINU
- Capital Budgeting: a Tax Shields’ “Mirage”?
Victor DRAGOTĂ
Lucian ŢÂŢU
- Convergence of the Policies for Promoting Total
Quality Management in the Public Administrations
of Balkan States – European Union Member States
Ani MATEI
Carmen SĂVULESCU
- Industrial District as a Corporation
Reza MOHAMMADY GARFAMY
- Aspects of the Normalization of Managerial
Accounting in Romania on a Microeconomic Level
Sorin BRICIU
Sorinel CĂPUŞNEANU
- An Analysis of the Correlation between Size
and Performance of Private Pension Funds
Vasile ROBU
Maria Iuliana SANDU
- Management of the Environmental Risk –
an Economic-Social Priority
Constantin ANGHELACHE