Is the preparation of financial statements for insurance companies also included in the syllabus of CT2?
Hi - the syllabus states that you need to 'Understand the structure and content of insurance company accounts.' (This does not mention 'construct' or 'prepare').
Thank you for the reply Sir. But I came across a question in March 2018 exam, IAI (qus no. 23) which requires the preparation of revenue account, profit and loss account and balance sheet. And it is of 20 marks.
Hi. There is another syllabus item "Construct simple statements of financial position and statements of profit or loss; understand and interpret cash flow statements.". I would not normally expect this to apply to insurance company accounts, but I guess the IAI examiners have taken a different view.
Yes Sir. I also think that simple financial statements doesn't mean the insurance co. accounts. I will contact IAI regarding this. Thank you for your help!
