Liabilities (20.20)

February 12, 2019 0 By c.boersma

Obvious Ones

  • Overdrafts (debt)
  • Borrowed Money and Accrued Interest (debt)

Payables (just opposite of receivables)

  • Agents and Brokers (commissions)
  • Policyholders (premiums)
  • Other Insurers (re-insurance fees)
  • Subsidiaries, Associates & Joint Ventures/Affiliates

Everything Else

  • Expenses due and accrued
  • Other Taxes due and accrued
  • Policyholder Dividends and Rating Adjustments
  • Encumbrances on Real Estate
  • Unearned Premiums
  • Unpaid Claims and Adjustment Expenses
  • Unearned Commissions
  • Ceded Deferred Premium Taxes
  • Ceded Deferred Insurance Operations Expenses
  • Premium Deficiency
  • Liabilities held for sale
  • Current Tax Liabilities
  • Deferred Tax Liabilities
  • Self-Insured Retention (SIR) portion of unpaid claims
  • Defined Benefit Pension Plan
  • Employment Benefits
  • Subordinated Debt
  • Preferred Shares – Debt
  • Provisions and Other Liabilities

= Total Liabilities

Equity

= Total Policyholders/Shareholders’ Equity = TOTAL LIABILITIES AND EQUITY

= Assets – Liabilities (accounting equation)

Home | Next: 20.30 Net Income