International Finance
Bachelor	TR-NQF-HE: Level 6	QF-EHEA: First Cycle	EQF-LLL: Level 6

General course introduction information

Course Code:

BNKS202

Course Name:

Insurance Accounting

Course Semester:

Fall

Course Credits:

Theoretical	Practical	Credit	ECTS
3	0	3	6

Language of instruction:

Course Requisites:

Does the Course Require Work Experience?:

Type of course:

Department Elective

Course Level:

Bachelor

TR-NQF-HE:6. Master`s Degree

QF-EHEA:First Cycle

EQF-LLL:6. Master`s Degree

Mode of Delivery:

Face to face

Course Coordinator :

Dr.Öğr.Üyesi TURGAY MÜNYAS

Course Lecturer(s):

Prof. Dr. GÖKÇE TUNÇ

Course Assistants:

Course Objective and Content

Course Objectives:

The aim of this course is to ensure that the students have the following concepts: basic concepts of insurance; insurance types; functions of accounting in insurance transactions; characteristics of insurance account; documents used in insurance account; books kept in insurance companies; registration scheme in insurance companies; transactions with various types of insurance in insurance companies; account plan in insurance companies; accounts specific to insurance undertakings: account of technical reserves, income and expense accounts; period end accounting operations; regulation of financial statements.

Course Content:

Basic concepts of insurance; insurance types; functions of accounting in insurance transactions; characteristics of insurance account; documents used in insurance accounting; books maintained in the order of insurance; registration scheme in insurance companies; transactions with various types of tax in insurance companies; account plan in insurance companies; accounts specific to insurance undertakings: account of technical reserves, income and expense accounts; term end accounting; regulation of financial statements.

Learning Outcomes

The students who have succeeded in this course;

Learning Outcomes

1 - Knowledge
Theoretical - Conceptual
1) • Using the structure and accounts of insured accounts.
2) • Make registration arrangements in insurance accounting.
3) • To recognize the importance of ethical principles and rules in terms of parties in insurance accounting transactions.
4) • To examine the Uniform Accounting Plan and its structure.
5) • To understand the working logic of TL and Foreign Currency accounts in accounting.
6) • To discuss the working principles of the Debt Credits records in insurance accounting.
7) • To calculate the assets, liabilities, off-balance sheet and income-expense accounts of the insurance companies.
8) • To prepare period end accounting transactions and financial statements.
2 - Skills
Cognitive - Practical
3 - Competences
Communication and Social Competence
Learning Competence
Field Specific Competence
Competence to Work Independently and Take Responsibility

Lesson Plan

Week	Subject	Related Preparation
1)	Giving general information about the course and informing about Syllabus details. Syllabus Describing the flow of topics
2)	• What is accounting? • What are the basic principles of accountancy? • Definition of Accountancy • Historical Development of Accountancy • Basic principles of accounting • Types of Recording in Accounting • Accounting books • Accounting Documents	To be prepared by reading the first part.
3)	• Uniform Chart of Accounts in Insurance Companies, Functioning, Financial Tables • Structure of Uniform Chart of Accounts • Information about Account Groups • Recording mode of recording • Financial statements used in insurance account • Balance Sheet • Profit Loss Table • Other Tables	Prepared by reading the next lesson.
4)	• Current Assets in Insurance Accounts • Cash and cash equivalents • Financial Investments • Receivables from Principal Activities • Other Receivables • Accruals	Reading the next lesson Return Values in Insurance Accounts
5)	• Assets and Liabilities Non-current in Insurance Accounts • Receivables from Principal Activities • Other Receivables • Financial Assets • Tangible Assets • Accruals • Insurance Technical Reserves	Read the topics related to the next lesson.
6)	• Insurance Concepts - I • Insurance policy • Insurance price • Insurance Time • Insurance Premium • Gross Premium • Net Premium	To work on insurance concepts.
7)	• Insurance Concepts (II) • Compensation Definition • Claim for Claim • Legal Dimension of Compensation Claim • Compulsory Insurance • Guarantee Fund • Grouping of Insurance Concepts, • Sorting with Accounting Records, • Provisioning	Future Lesson, Examining Insurance Concepts
8)	•Midterm • Discussion of Midterm Exam • Post-examination answers of the midterm exam answers (depending on the time).	Reading the notes of the next lesson
9)	• Insurance Account Plan - I • Current Assets • Non-current Assets • Short Term Liabilities • Long Term Liabilities • Equity • Ethical principles and rules in insurance accounting transactions. • The importance of the ethical principles and rules of insurance accounting procedures.	Reading the notes of the Insurance Account Plan course.
10)	• Insurance Account Plan - II • Income Statement Accounts • Non-Life Branch Technical Income • Non-Life Branch Technical Cost • Life Technical Income • Life Technical Cos	Next lesson, Insurance Account Plan will be continued.
11)	• Insurance Account Plan - III • Pension Technical Income • Pension Technical Expense • Investment Income • Investment Expenses	Next lesson, Insurance Account Plan will be continued.
12)	• Compulsory Traffic Insurance Premium Production • Compulsory Traffic Insurance Premium Production Accounting Records • Compulsory Traffic Insurance Premium Cancellation, Accounting Records • Fire Insurance Premium Production • Fire Insurance Premium Production Accounting Records • Fire Insurance Premium Cancellation Accounting Records • Automobile Premium Production • Automobile Premium Production Accounting Records • Automobile Insurance Premium Cancellation Accounting Records	Homework: Premium Production and Cancellation in Insurance Companies, Related Accounting Records will be read and ready to be tasted
13)	• Premium Production and Cancellation in Insurance Companies, Related Accounting Records-II • Premium Production in Other Elementary Branches • Premium Generation Accounting Records in Other Elementary Branches • Premium Cancellation Accounting Records in Other Elementary Branches • Premium Production in Life Branch • Premium Branch Accounting Records in the Life Branch • Premium Branch Accounting Records in the Life Branch • Recognition of Reinsurance Transactions	Homework: Premium Production and Cancellation in Insurance Companies, Related Accounting Records will be read and ready to be tasted.
14)	• Damage Transactions • Accounting Records of Damage Transactions • Damage Payment Types • Provision for Outstanding Claims • Accounting Records of Damage Transactions • Recognition of Expertise Fees • Recognition of Reward and Warfare Transactions • Insurance Agencies and Accountancy	Reading Damage Transactions course notes.
15)	Final exam	Finale preparation

Sources

Course Notes / Textbooks:	Metin Sarıaslan, Sigorta Muhasebesi, 2015 ISBN: 978-605-152-322-4
References:	Metin Sarıaslan, Sigorta Muhasebesi, 2015 ISBN: 978-605-152-322-4

Course-Program Learning Outcome Relationship

Learning Outcomes	1	2	3	4	5	6	7	8
Program Outcomes
1) Explain the essential body of knowledge in the area of banking and insurance, including evolution of the discipline, the state-of-the-art concepts, scientific methodology, theories and models.
1) -explain the essential body of knowledge in the area of banking and insurance, including evolution of the discipline, the state-of-the-art concepts, scientific methodology, theories and models.
2)  employ the appropriate tools and analytical techniques to collect and analyze quantitative and qualitative data in the related areas, interpret results and propose solutions.
2) Employ the appropriate tools and analytical techniques to collect and analyze quantitative and qualitative data in the related areas, interpret results and propose solutions.
3)  recognize and assess legal environment in banking and insurance industries
3) Recognize and assess legal environment in banking and insurance industries.
4) Explain ongoing operational and managerial methods in banking and insurance industries.
4)  explain ongoing operational and managerial methods in banking and insurance industries.
5) Discover and create entrepreneurial opportunities and expertise to successfully establish and develop their own ventures.
5)  discover and create entrepreneurial opportunities and expertise to successfully establish and develop their own ventures.
6)  develop the capacity to assess current global economic issues.
6) Develop the capacity to assess current global economic issues.
7)  express he role of international capital markets in the global economy; accordingly define the concept of risk in terms of measurement and management.
7) Translate and explain the content of the documents written in English related to the field .
8)  translate and explain the content of the documents written in English related to the field .
8) Express he role of international capital markets in the global economy; accordingly define the concept of risk in terms of measurement and management.
9) Identify standards of personal, professional, social and business ethics, evaluate the ethical implications of various practices in the related areas, and be aware the importance of ethical behavior in adding value to the society.
9)  identify standards of personal, professional, social and business ethics, evaluate the ethical implications of various practices in the related areas, and be aware the importance of ethical behavior in adding value to the society.

Course - Learning Outcome Relationship

No Effect	1 Lowest	2 Low	3 Average	4 High	5 Highest

	Program Outcomes	Level of Contribution
1)	Explain the essential body of knowledge in the area of banking and insurance, including evolution of the discipline, the state-of-the-art concepts, scientific methodology, theories and models.	5
1)	-explain the essential body of knowledge in the area of banking and insurance, including evolution of the discipline, the state-of-the-art concepts, scientific methodology, theories and models.
2)	 employ the appropriate tools and analytical techniques to collect and analyze quantitative and qualitative data in the related areas, interpret results and propose solutions.
2)	Employ the appropriate tools and analytical techniques to collect and analyze quantitative and qualitative data in the related areas, interpret results and propose solutions.	5
3)	 recognize and assess legal environment in banking and insurance industries
3)	Recognize and assess legal environment in banking and insurance industries.	2
4)	Explain ongoing operational and managerial methods in banking and insurance industries.	2
4)	 explain ongoing operational and managerial methods in banking and insurance industries.
5)	Discover and create entrepreneurial opportunities and expertise to successfully establish and develop their own ventures.
5)	 discover and create entrepreneurial opportunities and expertise to successfully establish and develop their own ventures.
6)	 develop the capacity to assess current global economic issues.
6)	Develop the capacity to assess current global economic issues.
7)	 express he role of international capital markets in the global economy; accordingly define the concept of risk in terms of measurement and management.
7)	Translate and explain the content of the documents written in English related to the field .
8)	 translate and explain the content of the documents written in English related to the field .
8)	Express he role of international capital markets in the global economy; accordingly define the concept of risk in terms of measurement and management.
9)	Identify standards of personal, professional, social and business ethics, evaluate the ethical implications of various practices in the related areas, and be aware the importance of ethical behavior in adding value to the society.
9)	 identify standards of personal, professional, social and business ethics, evaluate the ethical implications of various practices in the related areas, and be aware the importance of ethical behavior in adding value to the society.

Learning Activity and Teaching Methods

Lesson
Group study and homework
Lab
Problem Solving

Assessment & Grading Methods and Criteria

Written Exam (Open-ended questions, multiple choice, true-false, matching, fill in the blanks, sequencing)
Homework
Individual Project
Group project

Assessment & Grading

Semester Requirements	Number of Activities	Level of Contribution
Attendance	1	% 10
Midterms	1	% 40
Final	1	% 50
total		% 100
PERCENTAGE OF SEMESTER WORK		% 50
PERCENTAGE OF FINAL WORK		% 50
total		% 100

Workload and ECTS Credit Grading

Activities	Number of Activities	Workload
Course Hours	16	48
Study Hours Out of Class	16	64
Homework Assignments	4	16
Quizzes	4	8
Midterms	1	15
Final	1	22
Total Workload		173