Accounting and Financial Reporting

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What you will learn:

Participants in this seminar will receive a comprehensive orientation to life insurance company accounting and financial reporting - statutory and GAAP. Rounding out the seminar, a brief introduction to life insurance federal income taxation also is included.

Seminar Content:

• Life insurance fundamentals
• Framework of statutory and GAAP accounting and financial reporting
• Life insurance product accounting
  • Policyholder revenues, benefits and reserves
  • Policyholder acquisition costs
  • Reinsurance
• Investment accounting
  • Valuation and reporting of invested assets
  • Investment income and capital gains (losses)
  • Interest maintenance and asset valuation reserves
• Risk-based capital and target surplus concepts
• Basic statutory and GAAP financial statements
• Notes and disclosures, and other supporting information in the financial statements
• Federal income taxation of life insurance companies

Who Should Attend:

Accountants, auditors, consultants, analysts, managers others desiring an understanding of the basics of both GAAP and statutory insurance accounting and the financial reports prepared by life insurers.

Prerequisites:

No advance preparation or prerequisite is required for this seminar. Those who wish to focus primarily on GAAP accounting and reporting should consider the GAAP 1 and GAAP 2 seminars.

Class Times:

Class begins at 8:30 a.m. and ends at 5:00 p.m. except on the last seminar day which adjourns at 12:15 p.m.

Estimated CPE Credit: 20.0 hours

Tuition: $1795

Upcoming seminar dates and locations:

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