Description: Presented at May 1986 Spring Meeting. This session discussion is about need for internal management reporting on a GAAP-like basis in mutual companies, difficulties in adapting stock GAAP accounting to traditional, participating product lines, need for consistency with pricing/dividend practices, and alternative accounting models - a review of theoretical work and computer modelling of several accounting alternatives.

Description: Panelists discussed reporting structure [by lines of business, distribution systems, profit centers, and strategic business units], profit and performance criteria, definition of balance sheets and income by reportable unit, allocation of surplus, investment income, expenses and federal income taxes, and the use of financial management information. From the 1987 Record of Society of Actuaries, Vol. 13, No. 3.