Financial Reporting

Life insurance and annuity topics that involve financial reporting, with an emphasis on GAAP and international issues.

Financial Reporting

Financial Reporting Resources

Comment / Letter

Committees Comment to FASB on Standard-Setting Agenda

The Financial Reporting Committee and Life GAAP Reporting Committee sent a letter to the Financial Accounting Standards Board (FASB) as a response to the invitation to comment regarding FASB’s…
Date Published: 06/30/2025
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Comment / Letter

Committee Submits Agenda Request to FASB on Funds Withheld and Modified Coinsurance 

The Life GAAP Reporting Committee submitted an agenda request to the Financial Accounting Standards Board (FASB) regarding the application of accounting guidance for funds withheld and…
Topics: Life
Date Published: 05/08/2025
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Comment / Letter

Committee Submits Agenda Request to FASB on LDTI

The Life GAAP Reporting Committee submitted an agenda request to the Financial Accounting Standards Board (FASB) regarding treatment of long-duration targeted improvements…
Topics: Life
Date Published: 05/08/2025
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Comment / Letter

Committee Submits Agenda Request to FASB on Fixed Indexed Annuities

The Life GAAP Reporting Committee submitted an agenda request to the Financial Accounting Standards Board (FASB) regarding the application of accounting guidance for indexed annuity…
Date Published: 05/08/2025
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Comment / Letter

Committees Comment to FASB on Agenda Request

The Financial Reporting Committee and the Life GAAP Reporting Committee sent an agenda request letter to the Financial Accounting Standards Board (FASB) encouraging FASB to consider a project…
Date Published: 02/04/2025
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Research Paper

Committees Release White Paper on Hedging & Risk Management

The Risk Management and Financial Reporting Council’s (RMFRC) Financial Reporting Committee, ERM/ORSA Committee, and the Life Practice Council’s Life GAAP Reporting Committee released a white…
Date Published: 11/18/2024
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Practice Note

Application of ASU 2018-12 to the Accounting for Long-Duration Contracts under U.S. GAAP

The Long-Duration Contracts Work Group of the Academy’s Risk Management and Financial Reporting Council released the practice note , which covers aspects of the application of Accounting Standards…
Date Published: 12/27/2023
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Committee Releases White Paper on Long-Duration Targeted Improvements (LDTI)

The Life Financial Reporting Committee released a white paper, FASB Long-Duration Targeted Improvements-A Discussion of Enhanced Disclosures, which focuses on certain considerations in implementing…
Date Published: 03/09/2023
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