Description: The panelists at this session of the SOA 2003 Washington, DC Spring Meeting discuss recent GAAP activities including new Standards of Practice for new nontraditional products and internal replacements. Developments at the FASB and SEC are also discussed.

Description: 1999 SOA Annual Meeting, San Francisco. The panelists reviewed emerging proposals for reporting liabilities at fair value. Topics covered: 1. The Fair-Value Symposium in March 1999. 2. The measures and objectives of fair-value reporting. 3. The implication for the income statement and balance sheet. 4. The alternatives to fair-value reporting, such as embedded value. 5. The impact on asset/liability management. 6. The status of deliberations at the Financial Accounting Standards Board and the AICPA.

Description: Attendees will hear a brief summary of the major requirements of the Statement of Financial Accounting Standards No. 133, Accounting for Derivative Instruments and Hedging Activities SFAS 133, a more detailed description of certain key provisions is given and the leaders summarize the impact on the industry. From the Record of the Society of Actuaries, Volume 27, No. 3, Session 42TS of the New Orleans Annual Meeting.