Description: An update on the status of past, current and future research projects pertaining to the Financial Reporting Section.

Description: The article discusses practical PGAAP issues under China GAAP, e.g. product classification, unbundling, acquisition expense allocation, VOBA grouping.

Description: This article from The Actuary, April 1971, volume 5, Issue 4 talks about an exposure draft. The Exposure Draft of the American Institute of Certified Public Accountants on Audits of Life Insurance Companies has not apparently had among actuaries the wide circulation it deserves, judging by the relatively few responses to Robert Winters letter in the February issue of The Actuary. This is a most important document because it affects not only the accounting practices of life insurance companies but also the status of the actuarial profession.

Description: Description of FASB redeliberations on targeted improvements for long duration contracts as of the end of 2017, including a summary of the anticipated impacts

Description: A review of Life Insurance Accounting, a reference work by twenty three authors under the direction of the Insurance Accounting and Statistical Association, IASA.

Description: Update on tax reform

Description: Update on research projects sponsored by the Financial Reporting Section.

Description: The article discusses practical PGAAP issues under China GAAP, e.g. product classification, unbundling, acquisition expense allocation, VOBA grouping.

Description: This article discusses GAAP and IFRS changing standards, their differences and similarities. Issues included are fair value accounting for assets and financial liabilities, hedge accounting, financial instrument discosures and revenue recognition for contracts that do not qualify as insurance contracts.

Description: GAAP's elimination of gross profit as a basis for amortization of deferred acquisition costs enables the accounting for reinsurance of universal life contracts to better reflect the economic protection provided by reinsurance. It also makes it easier to assess the effectiveness of different techniques. Building on the analysis of an earlier article, "A Fresh Look at Accounting for Reinsurance of Universal Life," this article presents a practical approach to estimating the ineffectiveness of several existing techniques at accounting for the economic protection provided by reinsurance. The article ends with a summary of what a company might do to improve the effectiveness of its reinsurance accounting.