FASB Finalizes New Insurance Rules

Thoughtware Alert Published: Aug 20, 2018

Authors

Related Industries

Charts, people and a laptop

The Financial Accounting Standards Board recently issued Accounting Standards Update (ASU) 2018-12, Financial Services—Insurance (Topic 944): Targeted Improvements to the Accounting for Long-Duration Contracts. This ASU makes targeted—but substantial—changes to financial reporting for companies that issue long-duration contracts such as life insurance and annuities. These amendments will significantly change current practice, and insurers will need to change how they monitor and gather data.

Article

Apr 19, 2022

Preparing for an Annual Audit: Tips to Improve Efficiency & Accuracy

Preparing for an annual external audit can be intimidating and time-consuming. Read on for tips to help improve the efficiency and accuracy…

Article

Apr 15, 2022

FASB Standard Setter Update: 1Q 2022

This paper provides an overview of proposed and final standards issued by FASB from January to March 2022, along with recent updates on…

Article

Apr 12, 2022

FASB Approves Portfolio Method for Hedge Accounting

On March 28, 2022, FASB issued ASU 2022-01, which allows multiple layers of a single closed portfolio to be hedged.

Alert

Mar 31, 2022

GASB 87: Breaking Down Implementation for Airports

Given the number of leases they enter into each year, airports have a number of items to consider as they prepare to implement GASB 87,…

Alert

Mar 23, 2022

SEC to Beef Up Cyber Rules & Disclosures

Two recent SEC proposals would enhance and standardize disclosure for cybersecurity risk management, strategy, governance, and incident…

Article

Mar 17, 2022

ESG Reporting 1Q 2022 Update

Despite renewed demands for increased and more standardized disclosures on ESG issues, domestic regulatory action is slowly moving forward.

Kate & Ben — How can we help you? Contact Us!

How can we help you?