Financial Awareness
Financial awareness – a plain English overview for Account Executives and Account Handlers
In these challenging times understanding clients’ accounts has never been more important for brokers and underwriters alike, with tremendous scrutiny now being put on clients' accounts, so account executives, account handlers and underwriters will need to understand the main terminology.
This presentation, provided by Alan Chandler one of the most popular presenters in the UK, looks to provide a plain English understanding of what is in a balance sheet, Profit and Loss account, a cash flow statement and how these can be read easily by non-accountants.
The figures accountants put for property, stock, contents and Gross Profit are very different than what we need for insurance purposes, and understanding these differences will enable you to better help your clients get their insurances correct.
Learning Objectives
The presentation will enable delegates to understand:
1. The different component parts of a Balance sheet.
2. The different parts of a profit and loss statement.
3. What is a cash flow statement.
4.The difference in figures between what accountants record and what we need for insurance purposes.
CII Accredited
This demonstrates the quality of an event and that it meets CII member CPD scheme requirements.
1 hour's CPD can be claimed for this event if relevant to your learning and development needs.
It is recommended that you keep any evidence of the CPD activity you have completed and upload copies to the recording tool as the CII may ask to see this if your record is selected for review. Details of the scheme can be viewed online at www.cii.co.uk/cpd.