Responsibility Centers in the System of Management Accounting of Life Insurance Companies
Kryvytska O. R.

Kryvytska, Olha R. (2018) “Responsibility Centers in the System of Management Accounting of Life Insurance Companies.” The Problems of Economy 4:309–316.
https://doi.org/10.32983/2222-0712-2018-4-309-316

Section: Economic statistics. Accounting and Auditing

UDC 65.014.12

Abstract:
The aim of the article is to determine the specifics and tasks of responsibility centers in the system of management accounting of life insurance companies. Based on studying modern research works, which comprehensively reveal the problems of appointment and organization of management accounting in activities of business entities, it is found that most of them relate to enterprises of various forms, types, and a rather insignificant number of works consider its specific characteristics, peculiarities in activities of insurance companies in general and life insurance companies in particular. The article defines the main tasks and criteria for assessing performance of centers of income, expenditure, investment, and profit, taking into account peculiarities of the main activities of life insurance companies. The key aspects in organizing activities of each of the mentioned centers are presented. The attention is paid to the necessity of introducing computer technologies in activities of the centers of responsibility, which will increase efficiency of processing a large array of information contained in various archives of an insurance company.

Keywords: management accounting, responsibility center, life insurance company, income, expenses, investments, profits.

Tabl.: 4. Formulae: 4. Bibl.: 14.

Kryvytska Olha R. – Doctor of Sciences (Economics), Professor, Professor, Department of Finance, Accounting and Audit, The National University of Ostroh Academy (2 Seminarska Str., Ostroh, 35800, Ukraine)
Email: olha.kryvytska@oa.edu.ua

List of references in article

Vasiuk, N. V. “Metodolohiia orhanizatsii upravlinskoho obliku na pidpryiemstvi“ [Methodology of organization of management accounting at the enterprise]. Visnyk sotsialno-ekonomichnykh doslidzhen, no. 1 (48) (2013): 40-45.
Holov, S. F. Upravlinskyi oblik [Managerial Accounting]. Kyiv: Libra, 2006.
Fedoryshcheva, A. M., and Kysliak, N. P. “Rol upravlinskoho obliku v strakhovykh kompaniiakh“ [The role of managerial accounting in insurance companies]. http://firearticles.com/bugalterskiy-oblik-audit/182-rol-upravlinskogo-obliku-v-straxovix-kompaniyax-fedorishheva-a-m-kislyak-n-p.html
Sadovska, I. B., Bozhydarnik, T. V., and Nahirska, K. Ye. “Bukhhalterskyi oblik“ [Accounting]. https://pidruchniki.com/1867101053282/buhgalterskiy_oblik_ta_audit/predmet_metod_printsipi_funktsiyi_upravlinskogo_obliku
Nieizviestna, O. V., and Ohonovska, A. O. “Informatsiine zabezpechennia menedzhmentu strakhovoi diialnosti“ [Information support for insurance business management]. http://economyandsociety.in.ua/journal/10_ukr/110.pdf
Brydun, Ye. V. “Finansove upravlinnia strakhovoiu kompaniieiu“ [Financial management by the insurance company]. https://prestige-ic.com.ua/storage/other/2008_2fnansove_upravlnnya_strahovoyu_kompanyu.pdf
Zalietov, O. “Na strakhovykh poserednykiv v Ukraini v 2013 rotsi dovelosia 40 % zibranykh strakhovykamy premii“ [Insurance mediators in Ukraine in 2013 accounted for 40 % of the premium collected by insurers]. http://www.insurance.lviv.ua/?q=news
“Finansovyi konsultant - robota dlia ambitnykh“ [Financial advisor - work for ambitious]. http://www.osvita.com.ua/ua/articles/409/
Makhortov, Yu. O., and Telichko, N. O. “Rol strakhovykh brokeriv u rozvytku strakhovoho rynku Ukrainy“ [The role of insurance brokers in the development of the insurance market of Ukraine]. Ekonomichnyi visnyk Donbasu. 2009. http://dspace.nbuv.gov.ua/bitstream/handle/123456789/23816/22-Makhortov.pdf?sequence=1
Kozyriev, V. A., and Rudenko, Ya. P. “Vplyv finansovykh poserednykiv na funktsionuvannia strakhovoho rynku“ [Impact of financial intermediaries on the functioning of the insurance market]. Efektyvna ekonomika. http://irbis-nbuv.gov.ua/cgi-bin/irbis_nbuv/cgiirbis_64.exe?C21COM=2&I21DBN=UJRN&P21DBN=UJRN&IMAGE_FILE_DOWNLOAD=1&Image_file_name=PDF/efek_2015_3_68.pdf
[Legal Act of Ukraine] (2004). http://zakon2.rada.gov.ua/laws/show/z0194-05
[Legal Act of Ukraine] (2004). https://zakon.rada.gov.ua/laws/show/z0198-04
[Legal Act of Ukraine] (1996). https://zakon.rada.gov.ua/laws/show/85/96-%D0%B2%D1%80
[Legal Act of Ukraine] (2016). https://zakon.rada.gov.ua/laws/show/z0417-16