Current Topics in GAAPchange your whole life contract to a long-term-care contract, and therefore, it's not an internal replacement ... contract—as long as the GMDB didn't become the primary benefit and everything else in the SOP was satisfied ...
Description: Panelists discuss the following current GAAP issues:  internal replacements,  purchase accounting [including FAS 141 and 142],  emerging accounting issues, and  the Statement of Position from the AICPA regarding non-traditional policies and features. From the 2002 Record of Society of Actuaries, Volume 28, No. 3. Session 15OF of the Boston Annual Meeting.Hide
- Authors: Charles Carroll, John Morris, David Rogers, Phillip Shane Elenbaas, David M Brown
- Date: Oct 2002
- Competency: External Forces & Industry Knowledge
- Publication Name: Record of the Society of Actuaries
- Topics: Financial Reporting & Accounting>Generally Accepted Accounting Principles [GAAP]