ABSTRACT
The dubious and fraudulent economic events that manifest itself in Nigeria business environment brings the need for careful and prudent management of financial transaction in order to ensure economic survival and growth.
for this reason, the researcher would tend to form on the following: To determine the accounting principles, To identify the statutory provision of insurance companies account, To show how the generally accepted accounting principles can be applied and To receive the application of accounting principles in selected insurance companies. The data provided by accounting and good application of its principles by insurance companies with the help to show the relationship between the organization and those who have contractual dealings or obligation with it. It is the language through which the public read and understand what is going on in an organization around them.
It facilitate the efficient and effective operation of the management because with accosting information they make decision and plan for the future and even take correction whenever they may have cried.
