To the Point - FASB changes how insurers measure and disclose liabilities for long-duration insurance contracts

15 Aug 2018 PDF
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Publications To the Point

Overview

The FASB issued final guidance that will significantly change how insurers account for long-duration contracts, including how they measure, recognize and make disclosures about insurance liabilities and deferred acquisition costs. The guidance is effective for public business entities for fiscal years beginning after 15 December 2020 and a year later for all other entities.

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