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Author: Elizabeth A. Mulligan Publisher: Life Office Management ISBN: 9780939921850 Category : Business & Economics Languages : en Pages : 715
Book Description
Provides a broad exposure to financial and managerial accounting in life and health insurance companies, including the corporate and regulatory environment in which accounting functions occur.
Author: Elizabeth A. Mulligan Publisher: Life Office Management ISBN: 9780939921850 Category : Business & Economics Languages : en Pages : 715
Book Description
Provides a broad exposure to financial and managerial accounting in life and health insurance companies, including the corporate and regulatory environment in which accounting functions occur.
Author: AICPA Publisher: John Wiley & Sons ISBN: 1945498501 Category : Business & Economics Languages : en Pages : 752
Book Description
This book helps simplify the complexities of insurance entity regulatory compliance. Whether performing audit engagements or management at an insurance entity, the 2018 edition of this guide is a must-have resource to keep abreast of recent regulatory changes related to the life and health insurance industry, its products and regulatory issues, and the related transaction cycles that an insurance entity is involved with. New to the 2018 edition: This edition covers recent regulatory updates related to the Affordable Care Act and provides guidance for new standards that impact life and health insurance, including revenue recognition, financial instruments, leases, and more.
Author: American Institute of Certified Public Accountants. Life Insurance Audit Guide Task Force Publisher: ISBN: Category : Health insurance Languages : en Pages : 452
Author: Elizabeth A. Mulligan Publisher: Life Office Management ISBN: 9781579741495 Category : Business & Economics Languages : en Pages : 200
Book Description
Provides a broad exposure to financial and managerial accounting in life insurance companies, including the corporate and regulatory environment in which accounting functions occur.
Author: Life Office Management Association, Inc. Staff Publisher: ISBN: 9781579743383 Category : Languages : en Pages :
Book Description
Provides a broad exposure to financial and managerial accounting in life insurance companies, includingthe corporate and regulatory environment in which accounting functions occur.
Author: Hoskin Publisher: Dog Ear Publishing ISBN: 9781457504464 Category : Business & Economics Languages : en Pages : 136
Book Description
Covers the following areas: overview of the P&C industry; organizational structure of P&C insurers: stock & mutual companies; value drivers in the P&C business; financial reporting requirements for P&C insurers & major financial statements; capital management; GAAP (generally accepted accounting principles) insurance accounting principles; statutory (STAT) accounting principles; rating agencies & ratio analysis. The book uses the actual GAAP and STAT financial statements of Travelers Insurance Company as well as excerpts from the A.M. Best rating report for Travelers to illustrate the concepts and analysis.--P. [4] of cover.
Author: Irwin T. Vanderhoof Publisher: Springer Science & Business Media ISBN: 1461546230 Category : Business & Economics Languages : en Pages : 327
Book Description
Insurance companies, as well as banks and thrift institutions, have traditionally reported assets and liabilities on the basis of their amortized cost, or book value. But following the turmoil in securities markets due to highly volatile interest rate fluctuations in the 1980s and the early 1990s, and problems caused by inadequate liquidity, in the mid-1990s the Financial Accounting Standards Board (FASB) issued a new ruling calling for financial intermediaries to report the fair, or market, value of most assets. Called FAS 115, this new standard is the first step in the eventual change to valuing all the assets and liabilities belonging to financial intermediaries under the fair value accounting method. Thus, these changes will pose tremendous future implications for three key business measures of a financial intermediary: Solvency: if the fair values of assets and liabilities are out-of-step, then healthy companies may report negative net worth and insolvent companies may appear to be in sound financial condition. Reported Earnings: if the fair values of assets and liabilities are out of step, then reported earnings will not accurately represent the financial operations of the company. Risk Management: FASB recently postponed the implementation of its new rules on accounting for the use of derivatives instruments. However, if the final set of rules for figuring the fair value of derivatives is not carefully crafted, it may be possible that companies prudently hedging their risks are subject to penalties in their financial reports, while companies taking greater risks appear to have less volatile financial performance. Compared to banks and other financial intermediaries, life insurance companies have the longest term and most complex liabilities, and hence the new FASB requirement poses the most severe challenges to the life insurance industry. The lessons learned from the debate among life insurance academics and professionals about how respond to the fair value reporting rule will be instructive to their counterparts in other sectors of the insurance industry, as well as those involved with other financial institutions. Of particular note are the two papers which comprise Part III. The first provides examples of the fair valuing of annuity contracts, while the second offers examples of the fair valuing of term insurance products. As the papers collected in The Fair Value of Insurance Business extend and update some of the issues treated in a previous Salomon Center conference volume, The Fair Value of Insurance Liabilities, this new volume may be viewed as a companion to the earlier book.
Author: Elizabeth A. Mulligan
Author: Elizabeth A. Mulligan
Author: AICPA
Author: American Institute of Certified Public Accountants. Life Insurance Audit Guide Task Force
Author: Elizabeth A. Mulligan
Author: Life Office Management Association, Inc. Staff
Author: Ruth D. Handley
Author: Clair J. Galloway
Author: Hoskin
Author: R. Arthur Saunders
Author: Irwin T. Vanderhoof