Description: This session at the SOA 1990 Hartford Spring Meeting is about statutory and GAAP financial reporting activities of the NAIC, Financial Accounting Standards Board, Actuarial Standards Board, American Academy of Actuaries, American Institute of Certified Public Accountants, SEC, and the SOA Committee on Actuarial Principles.

Description: The panel discussed the accounting profession's attempts to codify an area that has long been subject to a wide variety of practice. Topics covered: 1. Accounting under the various methods of acquisitions: pooling of interests, purchase of stock, assumption reinsurance, indemnity reinsurance. 2. Benefit reserve approaches under Statement of Financial Accounting Standards 60 within the context of defined-valuation premium approach versus defined-initial reserve approach. 3. Approaches to determination of discount rate for the present value of future profits and purchase date 4. Effect of differing levels of goodwill on earnings accretion versus dilution.