Insurance Accounting Alert: developments from IASB and FASB - Ernst & Young - Global

Insurance Accounting Alert: developments from IASB and FASB

The International Accounting Standards Board and the Financial Accounting Standards Board of the United States (the IASB and the FASB) continue to make progress towards their joint objective of a uniform, global insurance contracts standard. Our monthly Insurance Accounting Alert keeps you current on these ongoing activities and how they could affect your business.

• November 2012: Boards continue to deliberate insurance contracts standard
• October 2012: Boards discuss recognition of acquisition costs
• July 2012: Boards discuss allocation of cash flows
• June 2012: Boards discuss insurance liabilities changes
• May 2012: Boards discuss reinsurance accounting
• April 2012: Boards agree on separation of investment component
• March 2012: Boards make decisions on the premium allocation approach
• February 2012: Boards debate premium allocation approach
• December 2011: Boards discuss onerous contract testing
• November 2011: IASB considers limited improvements to IFRS 9
• November 2011: Boards discuss fixed-fee service contracts
• October 2011: Boards discuss risk adjustment and composite margin
• August 2011: Boards discuss premium allocation approach
• July 2011: Boards define acquisition costs
• June 2011: Boards discuss reinsurance topics
• May 2011: Supplement 3, margin approach
• May 2011: Supplement 2, measurement of participating contracts
• May 2011: Supplement 1, unbundling
• May 2011: Modified approach
• April 2011: Boards make further progress
• March 2011: Supplement, redeliberations continue
• March 2011: Insurance attracts attention
• February 2011: Supplement, making progress
• February 2011: Redeliberations begin
• November 2010: IWG meets to discuss ED
• September 2010: FASB's preliminary views
• July 2010: IASB releases ED
• May 2010: Final ED approaches
• April 2010: Boards continue deliberations
• February 2010: Field testing
• January 2010: Risk adjustment