Complete Course on Fire Insurance Claim | Accountancy
3.0 (1 rating)
Course Ratings are calculated from individual students’ ratings and a variety of other signals, like age of rating and reliability, to ensure that they reflect course quality fairly and accurately.
138 students enrolled

Complete Course on Fire Insurance Claim | Accountancy

Fire Insurance Claim in Financial Accountancy
3.0 (1 rating)
Course Ratings are calculated from individual students’ ratings and a variety of other signals, like age of rating and reliability, to ensure that they reflect course quality fairly and accurately.
138 students enrolled
Last updated 7/2020
English
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Current price: $13.99 Original price: $19.99 Discount: 30% off
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This course includes
  • 2.5 hours on-demand video
  • Full lifetime access
  • Access on mobile and TV
  • Certificate of Completion
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What you'll learn
  • Fire Insurance Claim - Financial Accounting
  • Fire Insurance Claim in Accounting
Requirements
  • Should understand basic Accountancy Terms
Description

Use Coupon Code: AUGUST for 30% Discount.

Hello Guys,

               In this Course you will learn how to find Claim amount for loss of stock by fire with our fire insurance claim course.

Every company keeps sufficient stock as per the needs and volume of sales for the smooth functioning of business. But at the same time there is a risk of damage to the stock of which one of the reasons could be fire. So, the companies take fire insurance policy to safeguard the business from any unforeseen circumstantial loss.

We prepare Memorandum Trading Account to find out stock on date of fire at the place of fire. From this stock amount we deduct salvage and balance is actual loss suffered by the company for which company files the claim to the insurance company.

So here, we are going to study how to find out the claim amount for loss of stock by fire.


What will you learn?

· Concept of fire insurance claim for loss of stock

· Preparation of past years’ Trading Account

· Finding out Gross Profit Ratio

· Preparation of Memorandum Trading Account to find out stock on date of fire

· Finding out missing figures in case accounting records are also damaged

· Treatment of abnormal goods and abnormal sales

· Various adjustments in stock, purchases and sales figures

· Calculation of actual loss suffered

· Finding out claim amount in case of goods fully insured or partially insured

· Application of Average Clause in case of under insurance

This accounting course consists of simple and logical explanatory videos on all the topics of Fire Insurance Claim for loss of stock along with various problems solving sessions which covers all the different varieties of concepts and adjustments.

Who can take this course?

This course is beneficial to all the students or professionals or anyone who wants to have in depth knowledge on Fire Insurance Claim topic with the help of explanatory and problem solving videos.

Benefits of taking this course

On completion of this course, your knowledge on Fire Insurance Claim will be stronger. This course will make calculation of claim amount for loss of stock in case of fire very easy and interesting with deeper knowledge on the entire topic.

Explanatory videos ensure complete concept understanding.

Problem solving sessions helps in applying your knowledge to solve various problems.

In short it is an interesting and complete course on Fire Insurance Claim fulfilling all the needs.

So hurry up and enroll now!

Who this course is for:
  • Any Student who wants to learn about Fire Insurance Claim.
  • Commerce Student
Course content
Expand 6 lectures 02:23:27
+ Fire Insurance Complete Course
6 lectures 02:23:27

Hello Friends,

Checkout our video on Introduction to Fire Insurance Claim By CA Sonali Doshi.

In this session, we will discuss how to calculate claim in case of loss of stock by fire. We will also understand how to find out-

1. Actual Loss of stock suffered by fire

2. Calculation of fire insurance claim in case of goods fully insured or under insurance with the concept of average clause. In upcoming sessions we will learn how to calculate stock on date of fire and cover problems solving on this topic.

Useful for students of FYBCOM sem - II, M.com, BCom, CA, CA Final, CA-CPT, IPCC, CMA, CS and to anyone who wishes to learn the fire insurance


Preview 22:39

Revision Session

Let's Revise
5 questions

Hello Friends,

Checkout our Video on Introduction of Fire Insurance Claim By CA Sonali Doshi.

In this session, we will discuss how to calculate stock on date of fire for the calculation of claim to be filed with insurance companies in case of fire. We will also understand

1. How to Prepare Memorandum Trading Account

2. Find stock on date of fire when stock records are available or unavailable.

3. Calculate Gross Profit Ratio from previous year's figures.

In upcoming sessions we will solve problems based on this topic with various adjustments.

Useful for students of FYBCOM sem - II, M.com, BCom, CA, CA Final, CA-CPT, IPCC, CMA, CS and to anyone who wishes to learn the fire insurance

Preview 27:16

Revision Session

Let's Revise
6 questions

Hello Friends,

Checkout our Video on Fire Insurance Claim Problem Solving By CA Sonali Doshi.

In this session, we are starting with the first question where will prepare Memorandum Trading Account, find out of actual loss and claim amount using the average clause. We have also covered various adjustments regarding abnormal stock, goods sent on approval, unrecorded purchases, fire fighting expenses, etc.

In upcoming sessions, we will solve more problems covering different adjustments on Fire Insurance Claim.

Useful for students of FYBCom, FYBAF, CA-IPCC, CMA, CS, BCom, Commerce and to anyone who wishes to learn fire insurance claim.

Fire Insurance Problem Solving - 1 | Accountancy
27:32

Hello Friends,

Checkout our Video on Fire Insurance Claim Problem Solving By CA Sonali Doshi.

In this session, we will prepare

1} Debtors and Creditors A/c to find out credit sales and credit purchases.

2}Memorandum Trading A/c to find stock on date of fire to find claim amount.

Also we have covered adjustments of goods sent on consignment, given as donation, free samples and withdrawn for personal use.

Useful for students of FYBCom, FYBAF, CA-IPCC, CMA, CS, BCom, Commerce and to anyone who wishes to learn fire insurance claim.

Fire Insurance Problem Solving - 2 | Accountancy
20:20

Hello Friends,

Checkout our Video on Fire Insurance Claim Problem Solving By CA Sonali Doshi.

In this question, we will find out the claim amount for loss of stock by fire.

This problem will cover:

1) Preparation of previous year’s trading account to find out Gross Profit Ratio.

2) Adjustment of Undervaluation and Overvaluation of stock.

3) Finding purchase and sales figure in year of fire.

4) Adjustment when Purchase price and Sale Price increases compared to last year.

5) Applying average clause to find out claim.

Useful for students of FYBCom, FYBAF, CA-IPCC, CMA, CS, BCom, Commerce and to anyone who wishes to learn fire insurance claim.


Fire Insurance Problem Solving - 3 | Accountancy
25:40

Hello Friends,

Checkout our Video on Fire Insurance Claim Problem Solving By CA Sonali Doshi.

In this question, we will find out the claim amount for loss of stock by fire.

This problem will cover:

1) Treatment of Abnormal stock/item.

2) Adjustment for unrecorded purchases.

3) Finding out Gross Profit Ratio from previous year’s Trading Account.

4) Preparation of Memorandum Trading Account.

5) Finding stock on the date of fire including normal and abnormal goods.

Useful for students of FYBCom, FYBAF, CA-IPCC, CMA, CS, BCom, Commerce and to anyone who wishes to learn fire insurance claim.


Fire Insurance Problem Solving - 4 | Accountancy
20:00