ACSC 533 Lecture Notes - Lecture 25: List Of Fables Characters, Internal Control
20 Mar 2018
School
Department
Course
Professor
Document Summary
The essence of a control cycle approach: Monitor the results, making changes as appropriate. Any control cycle process is conducted within an environment or context that shapes the decisions taken. Note, the expression actuarial control cycle is actually used in two ways: As a model to describe actuarial work; As the name of a subject that has formed part of teh australian actuarial education system, since 1996. The origin of the control cycle concept in actuarial work traces to the paper: the control. Cycle: financial control of a life assurance company by jeremy goford (1985). Goford"s paper was confined to the specific case of profit testing. The appraisal value is the value of a company based on a projection of future cash flows that its owners will receive from the company"s assets as well as from its current and future operations. The appraisal value is often used to measure the financial performance of insurance companies.
