Statements of Position



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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.

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Insurance -- Accounting -- Standards; Disclosure in accounting -- United States; Financial statements -- United States


Accounting | Taxation


Originally published by: American Institute of Certified Public Accountants; Copyright and permission to reprint held by: American Institute of Certified Public Accountants.

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



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