Description: This 1978 presentation discusses the recommendation made by the Canadian Institute of Chartered Accountants to move to a GAAP basis for reporting for life insurance companies. The primary purposes would be to report earnings on a going concern basis, rather than on a basis dominated by solvency considerations, and to promote improved comparability of reported financial results among companies.

Description: The purpose of this session is to review and discuss the principles and guidelines published and/or under consideration within the accounting and the actuarial professions regarding the restatement of GAAP financial of a life company acquired in a transaction to be accounted for as a purchase transaction under SPB 016. Our purpose is also to review with you some of the specific approaches that have been taken, and the problems that have developed, in implementing purchase-GAAP in practice. From Record of the Society of Actuaries 1979, Volume 5, No. 1.

Description: 1993 SOA Annual Meeting, New York. This session is about FAS 107, FAS 115, RBC and AVR/IMR versus MSVR.

Description: 1999 SOA Annual Meeting, San Francisco. This panel discussion dealt with several new product types and the accounting profession's efforts to provide guidance. The five product types below do not fit neatly into the rules set forth in Statement of Financial Accounting Standards 50 and 97: 1. Variable annuities with guaranteed living benefits. 2. Equity-indexed products. 3. Market-value-adjusted annuities. 4. Annuities with a front-end bonus feature. 5. Investment contracts with no significant source of profit other than interest spread.

Description: 1994 SOA Spring Meeting, San Francisco. This session on Purchase GAAP accounting provides insight on related topics currently under discussion by the Emerging Issues Task Force of FASB.

Description: This panel discussion session explored alternative methods for accounting recognition of the costs of policyholder dividends. The theoretical bases, as well as the impact on anticipated earnings patterns, are discussed. Implementation issues are also discussed. Discussion of participating products in the UK and accounting methods used for them is also included.

Description: This presentation is a Teaching Session, number 31TS, from the 2002 Valuation Actuary Symposium, held September 19-20 in Lake Buena Vista, FL. The instructors discuss the practical aspects of implementing the draft American Institute of Certified Public Accountants [AICPA] Statement of Position [SOP] regarding nontraditional long-duration contracts. Specific items include separate account reporting, valuation of products with multiple account values, valuation of death/other insurance benefit under universal life-type contracts, and sales inducements.

Description: This article discusses how statutory financials would differ from a reasonable GAAP for a mutual company's structure, if the latter were ever imposed.

Description: This paper documents how mutual company surplus is determined and shown in a GAAP statement, including supplementary information, and offers how such reports could caption this item more appropriately.

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