{"id":2638,"date":"2019-10-24T08:16:21","date_gmt":"2019-10-24T08:16:21","guid":{"rendered":"https:\/\/commerceiets.com\/?p=2638"},"modified":"2019-10-24T08:16:21","modified_gmt":"2019-10-24T08:16:21","slug":"financial-statements-of-life-insurance-business","status":"publish","type":"post","link":"https:\/\/commerceiets.com\/financial-statements-of-life-insurance-business\/","title":{"rendered":"FINANCIAL STATEMENTS OF LIFE INSURANCE COMPANIES"},"content":{"rendered":"\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_69_1 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Content\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><ul class='ez-toc-list-level-4' ><li class='ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/commerceiets.com\/financial-statements-of-life-insurance-business\/#FINANCIAL_STATEMENTS_OF_LIFE_INSURANCE_COMPANIES\" title=\"FINANCIAL STATEMENTS OF LIFE INSURANCE COMPANIES\">FINANCIAL STATEMENTS OF LIFE INSURANCE COMPANIES<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/commerceiets.com\/financial-statements-of-life-insurance-business\/#REVENUE_ACCOUNT\" title=\"REVENUE ACCOUNT\">REVENUE ACCOUNT<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/commerceiets.com\/financial-statements-of-life-insurance-business\/#PROFIT_AND_LOSS_ACCOUNT\" title=\"PROFIT AND LOSS ACCOUNT\">PROFIT AND LOSS ACCOUNT<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/commerceiets.com\/financial-statements-of-life-insurance-business\/#BALANCE_SHEET\" title=\"BALANCE SHEET\">BALANCE SHEET<\/a><\/li><\/ul><\/nav><\/div>\n<h4 class=\"has-text-align-center wp-block-heading\"><span class=\"ez-toc-section\" id=\"FINANCIAL_STATEMENTS_OF_LIFE_INSURANCE_COMPANIES\"><\/span>FINANCIAL STATEMENTS OF LIFE INSURANCE COMPANIES<span class=\"ez-toc-section-end\"><\/span><\/h4>\n\n\n\n<p class=\"has-medium-font-size\">Financial Statements of Life Insurance Companies include preparation of Revenue account, profit and loss account and balance sheet. The formats of preparing these are provided by the Insurance Regulatory &amp; Development Authority Regulations, 2002. The performa of these statements are as follows:<\/p>\n\n\n\n<h4 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"REVENUE_ACCOUNT\"><\/span>REVENUE ACCOUNT<span class=\"ez-toc-section-end\"><\/span><\/h4>\n\n\n\n<p class=\"has-text-align-center has-medium-font-size\"><strong>FORM A- RA<\/strong><\/p>\n\n\n\n<p class=\"has-medium-font-size\"><strong>Name of the Insurer:<\/strong><\/p>\n\n\n\n<p class=\"has-medium-font-size\"><strong>Registration No. and date of registration with IRDA<\/strong><\/p>\n\n\n\n<p class=\"has-medium-font-size\"><strong>REVENUE ACCOUNT FOR THE YEAR ENDED 31<\/strong><sup><strong>ST<\/strong><\/sup><strong> MARCH,20\u2026.<\/strong><\/p>\n\n\n\n<p class=\"has-medium-font-size\"><strong>Policyholder\u2019s Account (Technical Account)<\/strong><\/p>\n\n\n\n<figure class=\"wp-block-table\"><table><tbody><tr><td><strong>   PARTICULARS   <\/strong><\/td><td><strong>   SCHEDULE NO.   <\/strong><\/td><td><strong>   CURRENT YEAR   <\/strong><\/td><td><strong>   PREVIOUS YEAR   <\/strong><\/td><\/tr><tr><td>   <strong>Premium earned net<\/strong><br \/>   Premium<br \/>   Reinsurance ceded<br \/>   Reinsurance accepted<br \/>   <strong>Income from investments<\/strong><br \/>   Interest, dividends and rent- gross<br \/>   Profit on sale\/ redemption of investments<br \/>   (Loss on\/ redemption of investments)<br \/>   Transfer\/ Gain on revaluation\/ change in fair value*<br \/>   <strong>Other Incomes (to be   specified)<\/strong> <br \/>  <strong>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; TOTAL (A)<\/strong>   <\/td><td>   &nbsp;   1 <br \/><br \/><br \/><br \/><br \/><br \/><br \/><br \/><br \/>  <\/td><td>\n  &nbsp;\n  <\/td><td>\n  &nbsp;\n  <\/td><\/tr><tr><td>   Commission<br \/>   Operating expenses related to insurance business<br \/>   Provision for doubtful debts<br \/>   Bad debts written off<br \/>   Provision for tax<br \/>   Provision (other than taxation)<br \/>   &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; -For dimunition in   the value of investments (net)<br \/>   &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; -others (to be   specified)<br \/>   &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <strong>TOTAL (B)<\/strong>   <\/td><td>   2 <br \/>  3 <br \/><br \/><br \/><br \/><br \/><br \/><br \/><br \/>  <\/td><td>\n  &nbsp;\n  <\/td><td>\n  &nbsp;\n  <\/td><\/tr><tr><td>   Benefits paid (Net)<br \/>   Interim bonuses paid<br \/>   Changes in valuation of liability in respect of life policies<br \/>   Gross Amount ceded in reinsurance<br \/>Amount accepted in reinsurance  <br \/>       &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <strong>TOTAL (C)<\/strong>   <\/td><td>   4<br \/><br \/><br \/><br \/><br \/>   <\/td><td>\n  &nbsp;\n  <\/td><td>\n  &nbsp;\n  <\/td><\/tr><tr><td>   SURPLUS\/ (DEFICIT) (D)= (A)-(B)-(C)<br \/>   APPROPRIATIONS<br \/>   Transfer to shareholder\u2019s accounts<br \/>Transfer to other reserves<br \/>Balance being funds for future appropriations<br \/>         &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <strong>TOTAL (D)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <\/strong>   <\/td><td>\n  &nbsp;\n  <\/td><td>\n  &nbsp;\n  <\/td><td>\n  &nbsp;\n  <\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<p><strong>NOTES:<\/strong><\/p>\n\n\n\n<h4 class=\"has-text-align-center wp-block-heading\"><span class=\"ez-toc-section\" id=\"PROFIT_AND_LOSS_ACCOUNT\"><\/span>PROFIT AND LOSS ACCOUNT<span class=\"ez-toc-section-end\"><\/span><\/h4>\n\n\n\n<p class=\"has-text-align-center has-medium-font-size\"><strong>FORM A-PL<\/strong><\/p>\n\n\n\n<p class=\"has-medium-font-size\"><strong>Name of the Insurer:<\/strong><\/p>\n\n\n\n<p class=\"has-medium-font-size\"><strong>Registration No. and date of registration with IRDA<\/strong><\/p>\n\n\n\n<p class=\"has-medium-font-size\"><strong>PROFIT AND LOSS ACCOUNT FOR THE YEAR ENDED 31<\/strong><sup><strong>ST<\/strong><\/sup><strong> MARCH, 20\u2026..<\/strong><\/p>\n\n\n\n<p class=\"has-medium-font-size\"><strong>Shareholder\u2019s Account (Non-technical Account)<\/strong><\/p>\n\n\n\n<figure class=\"wp-block-table\"><table><tbody><tr><td><strong>   PARTICULARS   <\/strong><\/td><td><strong>   SCHEDULE NO.   <\/strong><\/td><td><strong>   CURRENT YEAR   <\/strong><\/td><td><strong>   PREVIOUS YEAR   <\/strong><\/td><\/tr><tr><td>   <strong>Amounts transferred from\/ to   the policyholder\u2019s account (Technical Account)<\/strong><br \/>   <strong>Income from investments<\/strong><br \/>   Interest, dividends and rent- gross<br \/>   Profit on sale\/ redemption of investments<br \/>   (Loss on\/ redemption of investments)<br \/>   <strong>Other Incomes (to be   specified)<\/strong><br \/>   <strong>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; TOTAL (A)<\/strong>   <\/td><td>\n  &nbsp;\n  1\n  <\/td><td>\n  &nbsp;\n  <\/td><td>\n  &nbsp;\n  <\/td><\/tr><tr><td>   Expenses other than those directly related to the Insurance business<br \/>   Bad debts written off<br \/>   Provision (other than taxation)<br \/>   &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; -For dimunition in   the value of investments (net)<br \/>   &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; -Provision for   doubtful debts<br \/>    &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; -Others (to be   specified)<br \/>   &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <strong>TOTAL (B)<\/strong>   <\/td><td>\n  &nbsp;\n  <\/td><td>\n  &nbsp;\n  <\/td><td>\n  &nbsp;\n  <\/td><\/tr><tr><td>   Profit\/ (Loss) before tax<br \/>   Provisions for taxation<br \/>   Profit\/ (Loss) After tax   <\/td><td>\n  &nbsp;\n  <\/td><td>\n  &nbsp;\n  <\/td><td>\n  &nbsp;\n  <\/td><\/tr><tr><td>   <strong>APPROPRIATIONS<\/strong><br \/>   Balance at the beginning of the year<br \/>Interim dividends paid during the year<br \/>Proposed final dividend<br \/>Dividend distribution tax<br \/>Transfer to reserves\/ other accounts (to be   specified)               <br \/>Profit carried   over to the balance sheet   <\/td><td>\n  &nbsp;\n  <\/td><td>\n  &nbsp;\n  <\/td><td>\n  &nbsp;\n  <\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<p class=\"has-medium-font-size\"><strong>GUIDELINES REGARDING PREPARATION OF REVENUE ACCOUNT AND PROFIT AND LOSS ACCOUNT<\/strong><\/p>\n\n\n\n<ul class=\"wp-block-list\"><li>Premium income received from business concluded\nin and outside India shall be separately disclosed.<\/li><li>Reinsurance premiums whether on business ceded\nor accepted are to be brought into account at gross value.<\/li><li>Claims incurred must include:<\/li><li>Claims paid<\/li><li>Specific claims settlement costs<\/li><li>Fees and incomes connected with claims shall be\nincluded in the claims.<\/li><li>Income from rent shall include only the realized\nrent. It shall not record any notional rent.<\/li><\/ul>\n\n\n\n<h3 class=\"has-text-align-center wp-block-heading\"><span class=\"ez-toc-section\" id=\"BALANCE_SHEET\"><\/span>BALANCE SHEET<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p class=\"has-text-align-center has-medium-font-size\"><strong>FORM A- BS&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <\/strong><\/p>\n\n\n\n<p class=\"has-medium-font-size\"><strong>Name of the Insurer:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <\/strong><\/p>\n\n\n\n<p class=\"has-medium-font-size\"><strong>Registration No. and date of registration with IRDA<\/strong><\/p>\n\n\n\n<p class=\"has-medium-font-size\"><strong>BALANCE SHEET AS AT 31<\/strong><sup><strong>ST<\/strong><\/sup><strong> MARCH, 20\u2026..<\/strong><\/p>\n\n\n\n<figure class=\"wp-block-table\"><table><tbody><tr><td><strong>   PARTICULARS   <\/strong><\/td><td><strong>   SCHEDULE   <\/strong><\/td><td><strong>   Current Year   <\/strong><\/td><td><strong>   Previous Year   <\/strong><\/td><\/tr><tr><td>   <strong>SOURCES OF FUNDS<\/strong><br \/>   <strong>Shareholder\u2019s Funds:<\/strong><br \/>   Share Capital<br \/>   &nbsp;Reserve and Surplus<br \/>   Credit\/ (Debit) Fair value change account<br \/>   <strong><em>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sub-total<\/em><\/strong><br \/>   <strong>Borrowings<\/strong> <br \/>  <strong>Policyholder\u2019s Funds:<\/strong><br \/>   Credit\/ (Debit) fair value change account<br \/>   Policy Liabilities<br \/>   Insurance Reserves<br \/>   Provisions for linked liabilities<br \/>   <strong><em>&nbsp;&nbsp;&nbsp;&nbsp; Sub-total<\/em><\/strong><br \/>   <strong>Funds for future   appropriations<\/strong><br \/>   &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <strong>TOTAL<\/strong>   <\/td><td>5   <br \/>6<br \/>   &nbsp;   &nbsp;  <br \/><br \/><br \/>7<br \/><br \/><br \/><br \/><br \/><br \/>   &nbsp;   &nbsp;   &nbsp;   &nbsp;   &nbsp;   &nbsp;   &nbsp;   &nbsp;   <\/td><td>\n  &nbsp;\n  <\/td><td>\n  &nbsp;\n  <\/td><\/tr><tr><td>   <strong>APPLICATION OF FUNDS<\/strong><br \/><strong><br \/>   Investments:<\/strong><br \/>   Shareholders\u2019<br \/>   Policyholders\u2019<br \/>   <strong>Assets held to cover linked   liabilities<\/strong><br \/>   <strong>Loans<\/strong><br \/>   <strong>Fixed assets<\/strong><br \/>   <strong>Current assets:<\/strong><br \/>   Cash and Bank Balance<br \/>   Advances and other assets<br \/>   &nbsp;&nbsp;&nbsp; <strong><em>Sub-total (A)<\/em><\/strong><br \/>   <strong>Current liabilities<\/strong><br \/>   <strong>Provisions<\/strong><br \/>   <strong><em>&nbsp;&nbsp;&nbsp;&nbsp; Sub-total (B)<\/em><\/strong><br \/>   <strong>Net Current Assets (C)=   (A)-(B)<\/strong><br \/>   <strong>Miscellaneous Expenditure (to   the extent not written off or adjusted)<\/strong><br \/>   <strong>Debit Balance In Profit and Loss   Account (Shareholders\u2019 Account)<\/strong><br \/>   &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;   <strong>TOTAL<\/strong>   <\/td><td>8   <br \/>8A<br \/>8B<br \/><br \/>9<br \/>10<br \/><br \/>11<br \/>12<br \/><br \/>13<br \/>14<br \/>   &nbsp;   <br \/><br \/>15<br \/><\/td><td>\n  &nbsp;\n  <\/td><td>\n  &nbsp;\n  <\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<p class=\"has-medium-font-size\"><strong>GUIDELINES FOR PREPARATION OF <a href=\"https:\/\/commerceiets.com\/valuation-balance-sheet\/\" target=\"_blank\" rel=\"noreferrer noopener\" aria-label=\"BALANCE SHEET (opens in a new tab)\">BALANCE SHEET<\/a><\/strong><\/p>\n\n\n\n<ul class=\"wp-block-list\"><li>Investments in subsidiary\/ holding companies\/\njoint ventures and associates shall be separately disclosed, at cost.<\/li><li>Short term loans shall include those, which are\nrepayable within 12 months from the date of the balance sheet. Long term loans\nshall be the loans other than short-term loans.<\/li><li>Provisions against non-performing assets shall\nbe shown separately.<\/li><li>Loans considered doubtful and the amount of\nprovision created against such loans shall be disclosed.<\/li><li>Investments made out of catastrophe reserves\nshould be shown separately.<\/li><li>No items shall be included under the head\n\u2018Miscellaneous Expenditure\u2019 and carried forward unless:<\/li><li>Some\nbenefit from the expenditure can reasonably be expected to be received in\nfuture.<\/li><li>The\namount of such benefit is reasonably determinate.<\/li><\/ul>\n\n\n\n<p>Join the channel on Telegram<\/p>\n\n\n\n<p><a href=\"https:\/\/t.me\/commerceiets\" target=\"_blank\">https:\/\/t.me\/commerceiets<\/a><\/p>\n\n\n\n<figure class=\"wp-block-table\"><table><tbody><tr><td><strong>Also study:&nbsp;<\/strong><\/td><td><strong>Also study:&nbsp;<\/strong><\/td><td><strong>Also study:&nbsp;<\/strong><\/td><td><strong>Also study:&nbsp;<\/strong><\/td><\/tr><tr><td><a href=\"https:\/\/commerceiets.com\/joint-stock-company\/\">Meaning of company<\/a><\/td><td><a href=\"https:\/\/commerceiets.com\/types-of-companies\/\">Types of companies<\/a><\/td><td><a href=\"http:\/\/v\" target=\"_blank\">One person company<\/a><\/td><td><a href=\"https:\/\/commerceiets.com\/difference-between-public-and-private-company\/\">Public VS Private Company<\/a><\/td><\/tr><tr><td><a href=\"https:\/\/commerceiets.com\/sweat-equity-shares\/\">Sweat Equity Shares<\/a><\/td><td><a href=\"https:\/\/commerceiets.com\/stock-and-shares\/\">Stock vs Shares<\/a><\/td><td><a href=\"https:\/\/commerceiets.com\/reserve-capital-and-capital-reserve\/\">Reserve Capital Vs Reserve Capital<\/a><\/td><td><a href=\"http:\/\/v\" target=\"_blank\">Different types of preference shares<\/a><\/td><\/tr><tr><td><a href=\"https:\/\/commerceiets.com\/different-types-of-preference-shares\/\">Equity vs Preference shares<\/a><\/td><td><a href=\"https:\/\/commerceiets.com\/slip-system-of-posting\/\">Slip System of Posting<\/a><\/td><td><a href=\"http:\/\/v\" target=\"_blank\">Redemption of preference shares<\/a><\/td><td><a href=\"https:\/\/commerceiets.com\/buy-back-of-shares\/\">Buy Back of shares<\/a><\/td><\/tr><tr><td><a href=\"https:\/\/commerceiets.com\/debentures\/\">Debentures<\/a><\/td><td><a href=\"https:\/\/commerceiets.com\/issue-of-debentures\/\">Issue of debentures<\/a><\/td><td><a href=\"https:\/\/commerceiets.com\/redemption-of-debentures\/\">Redemption of Debentures<\/a><\/td><td><a href=\"https:\/\/commerceiets.com\/sources-of-redemption-of-debentures\/\">Sources of redemption of debentures<\/a><\/td><\/tr><tr><td><a href=\"https:\/\/commerceiets.com\/balance-sheet-as-per-companies-act-2013\/\">Balance Sheet as per Companies Act 2013<\/a><\/td><td><a href=\"https:\/\/commerceiets.com\/divisible-profits\/\">Divisible Profits<\/a><\/td><td><a href=\"https:\/\/commerceiets.com\/amalgamation\/\">Amalgamation<\/a><\/td><td><a href=\"https:\/\/commerceiets.com\/purchase-consideration\/\">Purchase consideration<\/a><\/td><\/tr><tr><td><a href=\"https:\/\/commerceiets.com\/alteration-of-share-capital\/\">Alteration of share capital<\/a><\/td><td><a href=\"https:\/\/commerceiets.com\/internal-reconstruction\/\">Internal Reconstruction<\/a><\/td><td><a href=\"https:\/\/commerceiets.com\/provisions-of-banking-regulation-act-1949\/\">Provision of banking regulation act 1949<\/a><\/td><td><a href=\"https:\/\/commerceiets.com\/asset-classification-of-banking-company\/\">Asset classification of banking company<\/a><\/td><\/tr><tr><td><a href=\"https:\/\/commerceiets.com\/non-performing-assets\/\">Non-performing assets<\/a><\/td><td><a href=\"https:\/\/commerceiets.com\/advances-in-banking-company\/\">Advances in banking company<\/a><\/td><td><a href=\"https:\/\/commerceiets.com\/types-of-life-insurance-policies\/\">Life Insurance Accounting<\/a><\/td><td><a href=\"https:\/\/commerceiets.com\/valuation-balance-sheet\/\">Valuation balance sheet<\/a><\/td><\/tr><tr><td><a href=\"https:\/\/commerceiets.com\/financial-statements-of-life-insurance-business\/\">Financial statements of life insurance companies<\/a><\/td><td><a href=\"https:\/\/commerceiets.com\/final-accounts-of-general-insurance-companies\/\">Final accounts of general insurance companies<\/a><\/td><td><\/td><td><\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<p><strong>CONNECT ON LINKEDIN<\/strong><\/p>\n\n\n\n<p><a href=\"https:\/\/www.linkedin.com\/in\/kajal-mahajan-7549b2197\/\" target=\"_blank\" rel=\"noopener\">https:\/\/www.linkedin.com\/in\/kajal-mahajan-7549b2197\/<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>FINANCIAL STATEMENTS OF LIFE INSURANCE COMPANIES Financial Statements of Life Insurance Companies include preparation of Revenue account, profit and loss account and balance sheet. The formats of preparing these are provided by the Insurance Regulatory &amp; Development Authority Regulations, 2002. The performa of these statements are as follows: REVENUE ACCOUNT FORM A- RA Name of&#8230;<\/p>\n<p class=\"more-link-wrap\"><a href=\"https:\/\/commerceiets.com\/financial-statements-of-life-insurance-business\/\" class=\"more-link\">Read More<span class=\"screen-reader-text\"> &ldquo;FINANCIAL STATEMENTS OF LIFE INSURANCE COMPANIES&rdquo;<\/span> &raquo;<\/a><\/p>\n","protected":false},"author":2,"featured_media":2644,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"rank_math_lock_modified_date":false,"footnotes":""},"categories":[102],"tags":[],"class_list":["post-2638","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-corporate-accounting"],"_links":{"self":[{"href":"https:\/\/commerceiets.com\/wp-json\/wp\/v2\/posts\/2638"}],"collection":[{"href":"https:\/\/commerceiets.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/commerceiets.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/commerceiets.com\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/commerceiets.com\/wp-json\/wp\/v2\/comments?post=2638"}],"version-history":[{"count":0,"href":"https:\/\/commerceiets.com\/wp-json\/wp\/v2\/posts\/2638\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/commerceiets.com\/wp-json\/wp\/v2\/media\/2644"}],"wp:attachment":[{"href":"https:\/\/commerceiets.com\/wp-json\/wp\/v2\/media?parent=2638"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/commerceiets.com\/wp-json\/wp\/v2\/categories?post=2638"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/commerceiets.com\/wp-json\/wp\/v2\/tags?post=2638"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}