IMPROVING THE METHODOLOGY FOR ACCOUNTING FOR INSURANCE REVENUE AND LIABILITIES

This article examines the methodological aspects of accounting for insurance revenue and liabilities in insurance companies and explores ways to improve them in accordance with International Financial Reporting Standards (IFRS). Particular attention is given to the requirements of IFRS 17 Insurance Contracts regarding the recognition of insurance revenue, the measurement of insurance liabilities, and the presentation of financial information. The article highlights the importance of distinguishing insurance premium receipts from revenue recognized for insurance services provided during the reporting period. Furthermore, recommendations are proposed to improve accounting methodologies, enhance the transparency and reliability of financial statements, and ensure the comparability of financial information.