Description: Discussion of AICPA Statement of Position 05-1: Accounting by Insurance Enterprises for Deferred Acquisition Costs in Connection With Modifications or Exchanges of Insurance Contracts.

Description: The actuarial profession is faced with a problem of determining delta-ized reserves on a basis which will include appropriate provision for adverse deviations in mortality, lapses, interest rates, and expense rates. This paper describes briefly a method which could be used to solve this Followed by papers submitted by 2 authors problem in a flexible manner.

Description: Contrasts the new version of GAAP for mutual companies with GAAP for stock companies.

Description: Presented at June 1985 Spring Meeting. Discusses statutory and GAAP accounting alternatives for Universal Life, Variable Products, Flexible Premium Annuity and Single Premium Deferred Annuity.

Description: A discussion of alternative meanings to “Best” in best estimate. When one is trying to estimate a result that is normally distributed, the mean, median and mode will all equal one another. However if the results are not normally distributed, different variance metrics will result in different “best” estimates. When different parts of a financial statement use different criteria for measuring best estimates and different processes for handling variances, the results can be volatile, unpredictable and perhaps unreasonable.

Description: The paper describes an approach for determining reserves for reinsurance accepted for use in financial statements prepared according to generally accepted accounting principles. Followed by a discussion paper submitted

Description: Presented at May 1985 Spring Meeting. This session discussed: AICPA activity in purchase accounting, Merger/Acquisition accounting, Assumption reinsurance, Minority interest accounting alternatives, Foreign mergers, acquisitions, and joint ventures accounting, Tax considerations in structuring mergers and acquisitions.