Accounting for insurance projects?The Financial Accounting Standards Board Financial Accounting Standards Board (FASB) Board composed of independent members who create and interpret Generally Accepted Accounting Principles (GAAP). has issued an invitation to comment to help it decide whether there is a need for a project on accounting for insurance contracts and whether it should undertake this project jointly with the International Accounting Standards Board  An editor has expressed concern that this article or section is .Please help improve the article by adding information and sources on neglected viewpoints, or by summarizing and . If the FASB FASB See: Financial Accounting Standards Board FASB See Financial Accounting Standards Board (FASB). were to take on this joint project, its objective would be to develop a common standard that would address recognition, measurement, presentation and disclosure requirements for insurance contacts. The project would provide accounting and reporting guidance for both the issuer and the holder of an insurance contract. Comments are due by Nov. 16 and can be e-mailed to director@fasb.org. For more information, visit http://fasb.org/news/nr080207.shtml. fair-value outsourcing: 90% of asset managers say they use a third-party fair-value pricing vendor, an increase from 74 percent in 2006. - Deloitte & Touche USA LLP LLP - Lower Layer Protocol |
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