Budgeting in the management and internal control system of an insurance company
( Pp. 131-134)
More about authors
Aksana A. Turgaeva
Cand. Sci. (Econ.), Associate Professor, Associate Professor of the economic security and risk management Department
Financial University under the Government of the Russian Federation
Moscow, Russian Federation Kushner Maxim A. kandidat ekonomicheskih nauk, docent kafedry «Proizvodstvennyy menedzhment»
Astrakhan State Technical University
Financial University under the Government of the Russian Federation
Moscow, Russian Federation Kushner Maxim A. kandidat ekonomicheskih nauk, docent kafedry «Proizvodstvennyy menedzhment»
Astrakhan State Technical University
Abstract:
Task. The article explores the issue of managing the budgeting process of insurance companies. At the same time, budgeting is presented as a business process that itself includes a control function and requires internal control. The purpose of the article is to develop a regulation of the process of budgeting the activities of insurance companies and, based on this, the allocation of centers of financial responsibility. Model. The article explores the schedule of the budget process in terms of preparing for the formation of the budget of the insurance company. The place of internal control in the management of the budgeting process. Summary. The organization’s Budgeting begins with its preparation and the main point is to take into account all the real capabilities of the insurance company, since with this vision of the state of affairs, the company will form an important financial document for the near future. Therefore, the implementation of internal control of this business process has matured and needs to be worked out. The issues of internal control of the business process of budgeting the activities of insurance companies have not been fully explored; they require a systematic approach and development of a methodology for its implementation. The lack of development of an internal control system for the budgeting business process in insurance companies, the lack of universal rules for this process for all insurers, the ICS methodology for this process does not allow the head office and local management to receive timely relevant information on deviations from the budget of branches, which reduces the level of management the budgeting process and the adoption of operational measures to reduce risks. Practical importance. The article substantiates the control of the budgeting process of insurance companies. Centers of financial responsibility for the formation of this process are presented, control ratios of indicators are defined, a reporting form is developed for the purposes of internal control of the business process budgeting. The submitted proposals can be taken as a basis for conducting internal control of budgeting activities of insurance companies. Originality. As a result of studying the business process, budgeting of the activities of the insurance company led to the logical conclusion of the internal control of this process. The specific positions of responsibility centers and indicators in the process of budget formation, a document on monitoring the compliance of budget indicators are proposed.
How to Cite:
Aksana A.T., Kushner M.A., (2020), BUDGETING IN THE MANAGEMENT AND INTERNAL CONTROL SYSTEM OF AN INSURANCE COMPANY. Economic Problems and Legal Practice, 2 => 131-134.
Reference list:
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Nikulina S.N. Byudzhetirovanie osnovnoy deyatel nosti sel skokhozyaystvennoy organizatsii // Audit i finansovyy analiz. 2009. № 6. - S. 69-74.
Rastorgueva N.F. Byudzhetirovanie kak protsess upravleniya deyatel nost yu stroitel noy organizatsii. // Upravlencheskiy uchet. 2009. №12. - S. 98-112.
Amanzholova B.A. Byudzhetirovanie kak sistema operativnogo planirovaniya deyatel nosti organizatsiy: dissertatsiya kandidata ekonomicheskikh nauk / Novosibirsk, 2001. - 188s.
Ivanova N.V. Byudzhetirovanie kak instrument upravlenie deyatel nost yu proektno-orientirovannoy genpodryadnoy stroitel noy organizatsii: avtoref. dissertatsii na soiskanie uchenoy stepeni kandidata nauk / Vseros. gos. nauch.-issled. in-t problem nauch.-tekhn. progressa i informatsii v str-ve. Moskva, 2009. - 24s.
Bryukhanova N.V. Ispol zovanie byudzhetirovaniya v finansovom planirovanii investitsionnoy deyatel nosti organizatsiy: dissert. kand. ekon. nauk / Novosibirsk, 2002. - 183s.
Ermakova N.A., SHakaramova A.A. Osobennosti protsessno-orientirovannogo byudzhetirovaniya v strakhovykh organizatsiyakh // Ekonomika i predprinimatel stvo. 2015. № 11-2 (64). - S. 651-655.
Nikulina N., Berezina S. Metodicheskie osnovy byudzhetirovaniya finansovoy deyatel nosti strakhovoy organizatsii //Strakhovoe delo. 2006. №5. - S. 9-16.
Evstratov A.V., SHapiro A.I. Byudzhetirovanie finansovoy deyatel nosti strakhovoy organizatsii // Vestnik filiala Vserossiyskogo zaochnogo finansovo-ekonomicheskogo instituta v g. Volgograde. 2012. № 9. - S. 22-25.
Klychova G.S., Zakirova A.R., Nikitina YA.P. Byudzhetirovanie v strakhovykh kompaniyakh: spetsifika zadach, funktsiy i etapov byudzhetnogo protsessa // Vestnik Kazanskogo gosudarstvennogo agrarnogo universiteta. 2014. T. 9. № 3 (33). - S. 44-49.
Gusev A. YU. Byudzhetirovanie dokhodov i raskhodov v sisteme upravlencheskogo ucheta v strakhovykh organizatsiyakh // TDR. 2011. №9. - S. 216-220.
Turgaeva A.A., (2019), Vnutrenniy kontrol : protsess uchastiya strakhovoy kompanii v ispolnenii obyazatel stv po gosudarstvennym kontraktam. Problemy ekonomiki i yuridicheskoy praktiki, 6: 75-82.
Rabiner L.M. Osnovnye kharakteristiki sistemy vnutrennego kontrolya // Upravlenie ekonomicheskimi sistemami: elektron-nyy nauchnyy zhurnal. 2014. № 7 (67). - S. 33.
Turgaeva A.A. Standartizatsiya vnutrennego kontrolya strakhovykh kompa-niy v sootvetstvii s MSA // Auditor. 2020. - № 2. Tom 6. - S. 10-17.
Keywords:
budgeting, internal control, insurance companies, process regulations, responsibility centers, business process, budget.
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