Description: New GAAP Guidance Likely to Be Promulgated for Non- Traditional Products and Separate Accounts by David C. Scheinerman and Mary S. Saslow from The Financial Reporter, September 2001, Issue No. 47

Description: Feature article discussing deferred policy acquisition costs and recent proposed changes to the expenses allowed to be deferred.

Description: ASU 2018-12 introduced a new concept called “market risk benefits” (MRBs). MRBs are a new accounting classification for benefits within deposit contracts, offering protection from “other than nominal market risk.” This applies to products with account values, including variable and indexed annuities with guaranteed living or death benefits attached (aka GMxBs). ASU 2018-12 Section 944-40-30-19D mentions both a non-option and an option-based valuation approach to account for MRBs. This article considers the option-based approach. The purpose is to highlight weaknesses in the current application of the option approach to MRBs, propose an alternative method, and consider the benefits of the new approach. The intent of this article is to persuade practictioners / actuaries / accountants that this is a better approach for applying the fair value option method to market risk benefits.

Description: This article highlights features of the SOA's Regulatory Web Resource. The intent is to encourage greater use of the Resource among section members.

Description: Adopting U.S. GAAP for Pre-Need Plans in the Philippines by Frank J. Buck from The Financial Reporter, December 2002, Issue No. 51.

Description: Compares Fair Value of liabilities under US GAAP to Solvency II.

Description: A primer on the new US GAAP Accounting Standards Codification.

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.