Description: Illustrates key differences, in earnings for a segment of term insurance, between current GAAP standards and GAAP targeted improvements (based on tentative board decisions preceding the release of an exposure draft).

Description: Chairperson’s column discussing current events in financial reporting focusing on IFRS accounting proposals for insurance contracts.

Description: This article discusses the adoption of the AICPA Statement of Position SOP 03-1 altering the way earnings emerge under FAS 97 and the impact of the enactment of SOX control requirements.

Description: Formulas for changes in GAAP liabilities and liability accrual rates are shown for three assumption update methods—retrospective, prospective and immediate.

Description: Illustrates the effects that proposed GAAP changes will have on earnings emergence of universal life contracts.

Description: Since the adoption of FAS 157, there has been much concern about the use of a company's own credit risk in the valuation of liabilities. To fully assess the implications of this requirement, the author argues that more research will be required.

Description: Presents a practical solution to some of the distortion caused by a typical application of the retrospective assumption update (unlocking) method.

Description: After a summary of FASB decisions in their GAAP Targeted Improvements project, this article describes several issues that will need to be resolved either by the board or in actuarial practice and argues for seeking solutions that provide meaningful results without overly complicating valuation processes.

Description: Article describing an exposure of a practice note titled, “Treatment of VOBA, Goodwill, and Other Intangible Assets under PGAAP.”