Learn how to find claim amounts for loss of stock by the 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 the 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 a fire insurance policy to safeguard the business from any unforeseen circumstantial loss. We prepare a Memorandum Trading Account to find out stock on the date of fire at the place of fire. From this stock amount, we deduct salvage and balance is the actual loss suffered by the company for which the 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 Be Learning?

• Concept of the 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 the date of the 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 underinsurance

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 that cover all the different varieties of concepts and adjustments.

Who Can Apply?

• Students
• Professionals Anyone who wants to have in-depth knowledge of the Fire Insurance Claim

This course is beneficial to all the students or professionals or anyone who wants to have in-depth knowledge of the 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 of Fire Insurance claims will be stronger. This course will make the calculation of the 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 help in applying your knowledge to solve various problems. In short, it is an interesting and complete course on Fire Insurance claims fulfilling all the needs. Requirements No prior knowledge or experience is essential.

Anyone who wants to learn or to know the basics can enroll for this course.