Accounting and Reporting by Mutual Life Insurance Enterprises and by Insurance Enterprises for Certain Long-duration Participating Contracts: An Amendment of FASB Statements No. 60, 97, and 113
The Board, 1994 - Contracts - 40 pages
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accepted accounting principles account balance Accounting and Reporting Accounting Standards Board AcSEC believes AcSEC concluded activities of mutual adverse deviation AICPA Statement AlCPA Amortization annual policyholder dividends beginning after December capitalized acquisition costs cash surrender values contracts that meet criteria of paragraphs December 15 described in paragraph dividend fund interest divisible surplus Enterprises for Certain estimated gross margins Exposure Draft Proposed FASB Statement Financial Accounting Standards financial statements fund interest rate future policy benefits GAAP gross premium gross profits insurance activities insurance and reinsurance insurance companies insurance contracts insurance enterprises issued June 30 level premium reserve liability for future Long-Duration Contracts Long-Duration Participating Contracts meet the criteria mutual life insurance NLPR paragraphs l2(a participating life insurance participating policies present value proposed SOP proposed Statement provisions Reporting by Insurance Reporting by Mutual SOP’s accounting statement of earnings Statement of Position stock life insurance terminal dividends universal life-type contracts value of estimated