Insurance is a required element of the socio-economic system of any society. It was and still 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 for protecting 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 that involves the parent company of affiliated investment companies. Income and expenses, along with financial results (profit and loss) are important indicators of any insurance company's activity, being the main elements of income statement. It is very important to correctly organize accounting for income generated from insurance operations, income formation and allocation. The income bases on estimated profit built in the structure of insurance tariff, and invested insurance reserves. The article describes and analyzes the issues of accounting for managing income and expenditure of insurance companies. It also studies the basic tasks to improve accounting and analytical systems. Based on the research, we propose a system for recognition and grouping of the insurance company's accounting information. This system can lead to improvement of corporate business quality. It will allow managers to more effectively control the level of corporate expenditures in order to maximize profits.
Keywords: insurance organization, accounting, profit, account, sub-account, system
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