How Statutory Accounting Professionals Can Help You
Statutory accounting is a set of principles and rules aimed at insurance companies. The rules are set by the National Association of Insurance Commissioners and it is used to prepare the financial statements of insurance organizations. There are minor various from state to state. It is vital that insurance firms make use of statutory reporting in order to submit their financial and non-financial information to government. Insurance companies make use of this accounting system in order to remain solvent as they will have to pay out most of their policy holders at one point or another. On Guru, you have access to freelance accountants with statutory accounting expertise.
Statutory accountants are responsible for the preparation of reports that are in line with the statutory requirements. Reports are generated monthly, quarterly, bi –annually as well as annually. Preparation of tax returns, payments and calculations are tasks undertaken by a statutory reporting specialist. They are able to prepare reconciliations, year-end external audits, resolution of internal findings as well as maintain the financial records for subsidiaries. Their skills include using computer software packages such as SAP, Cougar Mountain Software, Intacct, NetSuite and Oracle (to name a few). Furthermore, they are responsible for preparing the Annual Financial Statements of the insurance company. On Guru, statutory accounting specialists are easy to find. Hire the experienced pro you need today!