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: From a panel discussion session at the Spring regional meeting of the Society of Actuaries held in Atlanta, Georgia, May 24-25, 1999 Panelists discuss problematic aspects of applying GAAP to insurance products, challenges in producing GAAP financials, and various ways in which mutual companies are integrating this new reporting basis into their management process. From the Record of the Society of Actuaries, Vol. 25, No. 1.

Description: A discussion of a possible replacement of FASB Statement No. 141 SFAS 141. The exposure draft was referred to in this article as “141R.” “141R” provides guidance for application of the acquisition method, which was previously called the purchase method in the case of business combinations. The draft requires that all business combinations including the merger of mutual insurance companies be accounted for by the acquisition method.