Exposure Drafts, Comment Letters, and Statements of Position
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Description
This proposed statement of position (SOP) requires insurance enterprises, where applicable, to make the following disclosures in their financial statements prepared in conformity with generally accepted accounting principles (GAAP): 1. Information about their regulatory risk-based capital (RBC). 2. The accounting methods used in their statutory financial statements that are permitted by state insurance departments that are not prescribed statutory accounting practices. 3. Information about their liabilities for unpaid property and casualty insurance claims and claim adjustment expenses. The SOP would be effective for financial statements issued for fiscal years ending after December 15, 1994.
Publication Date
1994
Relational Format
Book
Keywords
Insurance -- Accounting -- Standards; Disclosure in accounting -- United States; Financial statements -- United States
Disciplines
Accounting | Taxation
Recommended Citation
American Institute of Certified Public Accountants. Task Force on Insurance Companies' Disclosures, "Proposed statement of position : Disclosures of certain matters in the financial statements of insurance enterprises ;Disclosures of certain matters in the financial statements of insurance enterprises; Exposure draft (American Institute of Certified Public Accountants), 1994, Apr. 20" (1994). Exposure Drafts, Comment Letters, and Statements of Position. 594.
https://egrove.olemiss.edu/aicpa_sop/594
Comments
Originally published by: American Institute of Certified Public Accountants; Copyright and permission to reprint held by: American Institute of Certified Public Accountants.