Accounting practices and Overall Insurance Process of a General Insurance Company: A Case Study of Lumbini General Insurance

Citation

Shrestha, Liwana. (2020). Accounting practices and overall insurance process of a general insurance company: A case study of Lumbini General Insurance . (Cooperative Education). Bangkok: Siam University.

Abstract

The cooperative report entitled Accounting and general non-life insurance practices has the goals to examine the practices of Non-life insurance company and explore its accounting practices. Objectives of the study include: (1) To examine and explore the accounting practices of a company. (2) To create a working ability in collaboration with the team members by putting theoretical knowledge into practice. (3) To assess the general non-life insurance practices and the COVID19 effect of the company. With the company, the student was assigned to work as an intern in the Finance and Accounting Department. The main responsibilities are to prepare journal entries of various incomes and expenses of the company, file vouchers systematically, calculation of tax, documentation of tax, assess the ledger book and prepare bank reconciliation statement, understand the process of insurance policy Upon the completion of the internship, it was found that the problem was resolved through means of proper communication and on job guidance gained throughout the period. The problems encountered during the internship were clear communication with the colleagues during certain period of the internship while working from home, time management issues.

Keywords: Accounting Process, Insurance Company, Lumbini General Insurance

Accounting practices and Overall Insurance Process of a General Insurance Company: A Case Study of Lumbini General Insurance 

Faculty of Business Administration, Siam University, Bangkok, Thailand