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New Products Accounting Alternatives
relative levels of risks and functions performed. The primary performance and risk elements in a UL contract ... premium over the net premium) should be recognized in direct relation to premium revenues. In the absence of ...- Authors: Edward F Bader, Shane A Chalke, Rex D Hemme, Linda L Wein
- Date: Jun 1985
- Competency: External Forces & Industry Knowledge>External forces and business performance; Technical Skills & Analytical Problem Solving>Process and technique refinement
- Publication Name: Record of the Society of Actuaries
- Topics: Annuities>Individual annuities; Financial Reporting & Accounting>Generally Accepted Accounting Principles [GAAP]; Financial Reporting & Accounting>Statutory accounting; Life Insurance>Universal life
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New Products Accounting Alternatives
management and mortality experience. Using these as the primary basis for profit recognition results in earnings ... Recommendation and Interpretation 1-1, which was a direct result of the AICPA/Academy task force dealing ...- Authors: Bruce Bengtson, William J Schreiner, Edward Silins, Michael M Sonderby
- Date: May 1985
- Competency: External Forces & Industry Knowledge>External forces and business performance
- Publication Name: Record of the Society of Actuaries
- Topics: Annuities>Individual annuities; Financial Reporting & Accounting>Generally Accepted Accounting Principles [GAAP]; Financial Reporting & Accounting>Statutory accounting; Life Insurance
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Session 45: Dynamic Hedging - Fair Valuation for FAS 133
are FAS 133 because they are net-settled. GMIB direct liabilities are not, because they're not net-settled ... main reasons why that is so. The first and primary reason, which Martin already alluded to, is that ...- Authors: Ejaz Haroon, Martin Hall
- Date: May 2002
- Competency: External Forces & Industry Knowledge>External forces and business performance
- Publication Name: Record of the Society of Actuaries
- Topics: Finance & Investments>Derivatives; Financial Reporting & Accounting>Fair value accounting; Financial Reporting & Accounting>Generally Accepted Accounting Principles [GAAP]
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Current Topics In Financial Reporting
limitation of 150% of one year's premium. The primary guidance received by Valuation Actuaries is from ... was modified to require identification of the primary location of the company's 2572 CURRENT TOPICS ...- Authors: Wayne Kauth, William J Schreiner, Wayne S Upton, George R. Wallace
- Date: Oct 1986
- Competency: External Forces & Industry Knowledge>External forces and business performance
- Publication Name: Record of the Society of Actuaries
- Topics: Financial Reporting & Accounting>Generally Accepted Accounting Principles [GAAP]; Financial Reporting & Accounting>Statutory accounting
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Worldwide Accounting Developments
ABI is that you can use achieved profits as the primary method of reporting under U.K. GAAP. However, ... accounting standards, what they are, and why should you care. Time permitting at the end, we'll talk about related ...- Authors: J Engels, Brett McWilliam, S Michael McLaughlin
- Date: May 2002
- Competency: External Forces & Industry Knowledge>External forces and business performance
- Publication Name: Record of the Society of Actuaries
- Topics: Financial Reporting & Accounting>Generally Accepted Accounting Principles [GAAP]; Financial Reporting & Accounting>International Accounting Standards Board [IASB]
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Accounting Alternatives For New Products
not attractive, since the margins may not bear a direct relationship to the risks and functions performed ... Premiums probably are revenue for VLI. 3. Great care should be taken in setting assumptions for VLI, ...- Authors: John W Brumbach, Charles Carroll, Douglas A Eckley, Dennis L Stanley, Michael Stein
- Date: Apr 1985
- Competency: External Forces & Industry Knowledge>External forces and business performance; Technical Skills & Analytical Problem Solving>Process and technique refinement
- Publication Name: Record of the Society of Actuaries
- Topics: Financial Reporting & Accounting>Generally Accepted Accounting Principles [GAAP]; Financial Reporting & Accounting>Statutory accounting
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Fair Value of Insurance Liabilities
by FAS 115. The other two approaches are more direct approaches to determining what the fair value of ... strengths and weaknesses of each method. I guess the primary strength of all these methods is that they more ...- Authors: Douglas Doll, Irwin T Vanderhoof, Zain Mohey-Deen, Robert C Wilkins
- Date: May 1996
- Competency: External Forces & Industry Knowledge>External forces and business performance; Technical Skills & Analytical Problem Solving>Process and technique refinement
- Publication Name: Record of the Society of Actuaries
- Topics: Financial Reporting & Accounting>Fair value accounting; Financial Reporting & Accounting>Generally Accepted Accounting Principles [GAAP]
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Draft SOP on Nontraditional Products: GMDB Reserve Requirements and Implications
charging for administration versus what are your direct costs for administration and sales that are not ... subtract accumulated actual costs. The SOP does direct that this liability should not be less than zero; ...- Authors: Louis Lombardi, David C Scheinerman, Karen DeToro
- Date: May 2002
- Competency: External Forces & Industry Knowledge>External forces and business performance
- Publication Name: Record of the Society of Actuaries
- Topics: Actuarial Profession>Standards of practice; Annuities>Variable annuities; Financial Reporting & Accounting>Generally Accepted Accounting Principles [GAAP]
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General Accepted Accounting Principles 'GAAP' Implementation Implementation Issues
be deficient. The project manager would take care of most of the administrative issues related to ... complex. For example, consider annual factors for direct recognition. By taking the assumptions that were ...- Authors: Application Administrator, Mary Ann H Peltier, James Milholland, Ronald Takemoto
- Date: Oct 1996
- Competency: External Forces & Industry Knowledge>External forces and business performance; Strategic Insight and Integration>Management partnership
- Publication Name: Record of the Society of Actuaries
- Topics: Financial Reporting & Accounting>Generally Accepted Accounting Principles [GAAP]
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Management Financial Statements For Mutual Companies
particular circumstances of each company. The primary management objectives heavily influence the specific ... GAAP, even if stock-life GAAP is adopted as the primary set of accounting principles. Many stock companies ...- Authors: Glen Gammill, Glenn H Gettier, Robert Stein, Joseph H Tan, Owen A. Reed, Henry R Ramsey
- Date: May 1985
- Competency: External Forces & Industry Knowledge>External forces and business performance
- Publication Name: Record of the Society of Actuaries
- Topics: Enterprise Risk Management>Financial management; Financial Reporting & Accounting>Generally Accepted Accounting Principles [GAAP]