Accounting and Financial Reporting

Submitted by Administrator on Tue, 03/13/2012 - 3:26pm

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What You Will Learn:

Participants will receive a thorough orientation to statutory and GAAP accounting concepts for P&C companies. Additionally, the class provides a survey of the statutory Annual Statement and GAAP financial statements. The class also includes a brief introduction to federal income taxation as well as current year updates for accounting and tax changes.

Seminar Content:

  • P & C products and terminology
  • Framework of statutory and GAAP accounting
  • Overview of the NAIC Annual Statement
  • Premium accounting
  • Expense classification and recognition
  • Deferred acquisition cost methodology (including recently adopted guidance effective in 2012)
  • Loss concepts and terminology
  • Reinsurance concepts and Schedule F highlights
  • Review of loss information in key parts of Schedule P
  • Investment valuations and Schedule D overview
  • Statutory and GAAP financial statements and disclosures
  • Federal income tax overview (including recently adopted changes)

Field of Study: Accounting

Who Should Attend:

Accountants, auditors, consultants, analysts, managers and others desiring an understanding of the basics of insurance accounting theory and the financial reports prepared by P&C insurers.

Prerequisites:

No advance preparation or prerequisite is required for this basic level seminar. For a more detailed discussion of the preparation of Annual Statement schedules and exhibits, we recommend that you attend the four-day Annual Statement seminar. Non-financial personnel desiring a more general discussion of these topics should consider our Financial Reporting for Non-Financial Managers seminar.

Class Times:

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

Estimated CPE Credit: 20.0 hours

Tuition: $1895

Upcoming seminar dates and locations:

To register and pay by credit card, use the Register Now button(s) below.

To register by mail and pay by check, click here.

LocationStart DateEnd DateHotel and Nightly Rate
Chicago, ILJun 25Jun 27Four Seasons Hotel Chicago (225)

Chicago, ILAug 28Aug 30Four Seasons Hotel Chicago (225)

Las Vegas, NVSep 18Sep 20Mandalay Bay Hotel & Casino (Varies)

Orlando, FLNov 14Nov 16Caribe Royale Orlando (129)

New Orleans, LANov 27Nov 29The Ritz-Carlton, New Orleans (205)

Winston-Salem, NCDec 10Dec 12Embassy Suites Winston-Salem (135)