Insurance is a required element of the socio-economic system of any society. It has been and remains one of the main areas that provide the guarantee in case of violation of property interests during unforeseen events. At the present stage of market relations development, the role of insurance increases substantially. Insurance becomes increasingly important, since, on the one hand, it is a system of protection of the national economy, and on the other hand, it is a significant internal investment resource. As a relatively young field of economics, insurance does not yet have necessary methodological instructive materials, which would enable it to evolve and improve and successfully compete with foreign insurance companies. In addition, the development of the domestic insurance business, which focuses on holding structures creation, provides for centralized revenue management involving the parent company of affiliated investment companies. Income and expenses, along with financial results (profit and loss) are important indicators of activity of any insurance company and the main elements of income statement. Correct organization of accounting for income from insurance operations formation and placement, which bases on estimated profit built in the structure of insurance tariff, and invested insurance reserves are of great importance. The article describes and analyzes the issues of accounting management of revenue and expenditure of insurance companies. It also studies the basic tasks to improve accounting and analytical systems. On the basis of the research, we propose a system of reflection and grouping of accounting information of an insurance company. This system can lead to improvement of a company's quality. It will allow managers to more effectively control the level of expenditures in order to maximize profits.
Keywords: insurance organization, accounting, profit, account, sub-account, system
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