Description: Read the June 2018 issue of The Financial Reporter published by the Financial Reporting Section of the SOA.

Description: Panelists discuss: [1] Practice Bulletin 8 that was written for FAS 97, [2] Purchase GAAP [PGAAP], and [3] GAAP for re-entry term products. Session 10 of the 1991 Valuation Actuary Symposium.

Description: This session from the 1995 SOA Boston Meeting covers recent developments in the U.S. Topics include FASB and AICPA pronouncements such as FAS 115, GAAP for mutuals, and performance measurement and other uses of GAAP financial statements. From the Record of the Society of Actuaries, Vol. 21, No. 4a.

Description: Healthcare costs have been rising faster than general inflation for many years. Early models that predicted this past pattern projected healthcare expenditure growth that continued to outpace total expenditure growth leading to the fallacious position that the whole of the US economy would ultimately be consumed by healthcare. This paper presents a long term healthcare trends resource model, prepared for the Society of Actuaries by Professor Thomas Getzen, that includes capacity constraints to ensure the long-term projection is rational. The motivation for creation of the model was driven by its potential usage as a resource for the estimation of reportable liabilities for retiree healthcare benefits as specified under FAS 106 and GASB 45 accounting statements.

Description: This 1977 panel discussion examined evolution of accounting standards and current developments. Topics discussed included: 1. FASB'S effort to establish a framework for financial accounting and reporting 2. Implications of the conceptual framework project with respect to insurance companies 3. Implications of the conceptual framework project as it relates to actuarial principles

Description: Key performance indicators (KPIs) are essential in order to monitor and communicate a life insurance companies’ financial results, and effectively manage the business. This presentation will illustrate how the currently used KPIs may develop and evolve with the adoption and implementation of IFRS 17. Will the IFRS 17 insurance revenue be an appropriate measure for growth? Will the profitability and new business value measures be different? The panelists will discuss the implications of IFRS 17 on the existing KPIs and the possible changes that may lay ahead

Description: Update on tax reform

Description: A current member of the Financial Accounting Standards Board [FASB] discusses the structure and function of the Board, how it sets its agenda and makes decisions, its present philosophical position, and whether the philosophy of the FASB has taken a new direction recently. From the 1987 Record of Society of Actuaries, Vol. 13, No. 3.

Description: This article discusses the FASB Exposure Draft, “Accounting and Reporting by Insurance Enterprises for Certain Long-Duration Insurance Contracts and for Realized Gains and Losses from the Sale of Investments.”

Description: This article discusses the joint project between the Financial Accounting Standards Board and the International Accounting Standards Board. Their goal is to change the accounting standards for financial instruments. This project will affect the accounting for many of the assets that back insurance contracts.