I studied a series of these woodcuts by Holbein the Younger for a piece of coursework I did concerning danse macabre (dance of death) and the role it played in 'ars moriendi' (the art of dying), which was a 14th century cultural phenoma caused essentially by the devastation of the plague coupled with the fear of dying badly and suffering from torment in purgatory, or worse, hell.
Not analysising I promise: This one really amuses me because the abbot (the dude that is not a skeleton) is supposed to be holy man, and clerics were supposedly the models of religious example in the community and demonstrating the best way to die, is stubbornly refusing to go with death and is about to lob his bible at the comical skeletal figure of death. I guess death just isnt having any of it...