Find a Program
Your shopping cart is empty.
Click here to access the complete PwC Professional Development catalog
Purchase This Webcast
Enter your Group Participant Code here:
PDP Live Webcast Series 2012: IASB/FASB Joint Insurance Contracts Project
Start Date (Local)
6/22/2012 11:00:00 AM Eastern (EST/EDT)
6/22/2012 12:30:00 PM Eastern (EST/EDT)
Field of Study
Accounting -- 1.5 Credits
PwC's Insurance Practice invites you to attend a one and a half hour webcast on the IASB/FASB Joint Insurance Contracts Project - Where are we now and what does the future hold?
on June 22 at 11:00 am EDT.
In 2008, the FASB joined the IASB in a joint project to develop a common standard on insurance contract accounting covering recognition, measurement, presentation, and disclosure. In 2010, the IASB issued an exposure draft and the FASB issued a discussion paper proposing a new comprehensive accounting model for insurance contracts. During 2011 and continuing into 2012, in response to comments provided by constituents and a desire for convergence, the IASB and FASB boards have been redeliberating significant aspects of the models. It is each board's goal to issue something by the end of 2012. The FASB is expected to issue an exposure draft while the IASB may re-expose or issue a final standard. For a PwC summary of the project redeliberations to date, please visit: http://www.pwc.com/us/en/insurance/publications/IASB-FASB-insurance-contracts-project.jhtml
• Estimated timeline
• Definition of an insurance contract
• Measurement approaches for insurance contracts
• Acquisition costs
• Discount rate
• Separation of embedded derivatives, services, and deposit elements
• Use of Other Comprehensive Income (OCI)
• Financial statement presentation
• Transition and effective date