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170 Mutengezanwa, M.; Gombarume, F.B.; Njanike, K.; Charikinya, A. [9]. Mawadza, C. (2005) Financial Gazette, 14 April [10]. Myrada (2002) Impact of self help Groups (Group Processes) on the Social Empowerment Status of Women Members in the Southern India, NABARD [11]. Moyo, S. (2000), Financial Sector Liberalization and the poor: A Critical Appraisal, edited by I Mandaza Harare, SAPES trust SADC Studies [12]. Paxton, J. (1995) Sustainable banking with the Poor: A Worldwide Inventory of Micro finance Institutions, Washington DC, World Bank [13]. Robinson, M.S. (2001) The Micro Finance Revolution, Vol.1, Sustainable Finance for the Poor, Washington DC, World Bank [14]. Robinson, M.S. (2002) The Micro Finance Revolution, Vol.2, Lessons from Indonesia, Washington DC, World Bank [15]. Sharif, I.; Wood, G. (2001) Challenges for second generation Microfinance, The University Press Ltd, Dhaka [16]. White, V. (2006) Transforming Microfinance Institutions, Providing Full Financial services to the poor: Washington DC, World Bank [17]. Wooler, G.; Brau, J.C. (2004) Micro finance Institutions: A Comprehensive Review of the existing literature, Journal of Entrepreneurial Finance and Business Ventures, 9(1), pp.1-26 [18]. The Reserve Bank of Zimbabwe (2007, 2008) Monetary Policy Statement [19]. World Vision Zimbabwe (1999, 2007) Annual Reports
Annals of the University of Petroşani, Economics, 11(1), 2011, 171-178 171 SPECIFIC ASPECTS OF THE TECHNICAL RESERVES OF INSURANCE ACCOUNTING CRISTINA MIHAELA NAGY, DUMITRU COTLEŢ * ABSTRACT: The formation, increase, release and reduction of technical reserves are accounting transactions that are only found in insurance companies. Technical reserves are established for each line of insurance as special funds so that the stability and solvency of insurance companies are not affected. KEY WORDS: insurance companies; technical reserves; premium; loss reserve; technical reserves accounting JEL CLASSIFICATION : G22, M41. 1. INTRODUCTION Insurance companies operate by providing, brokering, negotiation, conclusion of contracts of insurance and reinsurance, premium collection, liquidation of damages, regression and recovery activities, as well as equity investment or fructification. Insurance is a reduction factor of economic uncertainty and a means of resuming the temporarily interrupted activity. When a person is insured, it is aware of a certain risk and tries to protect himself from negative consequences. The risk does not disappear, but its effects move from the insured to the insurer. Thus the future for the insured acquires a certain certainty, a stabilization of the financial risk, insurance premium becomes a production cost or an expense in the family budget. The biggest insurance companies' revenues are derived from the sale of insurance policies. In most cases, premiums are collected at the beginning of the insurance, that is anticipated, in the amount and terms established in the insurance policy, and based on these the insurance company promises to pay compensations if the insured risk occurs. Because insurance premiums are collected in advance with the * Teaching Assistant, Ph.D. Student, „TIBISCUS” University of Timisoara, Romania, cristinanagy2009@yahoo.com, Prof., Ph.D., West University of Timisoara, Romania, toldo_bogdan@yahoo.com
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Concerns on Labour Power Selection
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Romanian Companies Dilemmas-Busines
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