GAAP 2: Beyond the Fundamentals

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What you will learn:

Participants will gain an understanding of more complex applications of GAAP for life insurers, including specialized guidance in accounting and reporting for insurance products and invested assets, separate accounts and business combinations and goodwill. The class will also explore the more recent trend to fair value presentation and disclosure.

Seminar content:

• Product accounting issues
  • Reserving for special product features and guarantees and accounting for sales inducements
  • Internal replacements
• Investment accounting issues
  • Accounting for impairments
  • Shadow accounting
  • Introduction to derivatives and hedge accounting
• Separate accounts
• Mergers and acquisitions
• Fair value accounting and disclosure

Field of Study: Accounting

Who Should Attend:

Anyone who prepares, reviews, audits, or contributes to GAAP financial statements. Also, analysts, management, or other users of GAAP financial statements interested in measuring management performance.

Prerequisites:

Participants will find it helpful to have an understanding of the fundamentals of GAAP for life insurers, as provided by the GAAP 1 seminar conveniently scheduled to precede this seminar. No advance preparation is required for this intermediate level seminar.

Class Times:

Class begins at 8:30 a.m. and ends at 5:00 p.m. on the first day and at 12:15 p.m. on the second day.

Estimated CPE Credit: 12.0 hours

Tuition: $1395

Note(s):

The combined tuition if both the GAAP 1 and GAAP 2 seminars are taken together is $2,390, a $500 savings.

Upcoming seminar dates and locations:

All seminar dates for the full year are listed below.