AICPA – American Institute of Certified Public Accountants

AICPA – American Institute of Certified Public Accountants

• aicpa-cima.com/home

• 1.24  – Universal life and similar contracts are contracts with terms that are not fixed or guaranteed relative to premium amounts, expense assessments, or benefits accruing to the contract holder.

2000 0615 – AICPA – Audit and Accounting Guide: Life and health insurance entities American Institute of Certified Public Accountants. Life Insurance Audit Guide Task Force – 394p

• 1984 – AICPA – Accounting by stock life insurance companies for annuities, universal life insurance, and related products: and accounting for nonguaranteed premium contracts; Issues paper – 120p
• 1985 – AICPA – Audits of stock life insurance companies: Industry audit guide; Audit and accounting guide, American Institute of Certified Public Accountants. Committee on Insurance Accounting and Auditing – 250p
• egrove.olemiss.edu/cgi/viewcontent.cgi?article=1301&context=aicpa_indevolemiss.edu/aicpa_iss/
• en.wikipedia.org/wiki/List_of_AICPA_Issues_Papers

• During 1984, under pressure from the Securities and Exchange Commission (SEC), the Non-Guaranteed Premium Products Task Force of the American Institute of Certified Public Accountants (AICPA) Insurance Companies Committee produced an issues paper with the succinct title of
  • “Accounting by Stock Life Insurance Companies for Annuities, Universal Life Insurance and Related Products and Accounting For Non-Guaranteed Premium Contracts.” – 120p

1985 – SOA – New Product Accounting Alternatives, Society of Actuaries – 26p

• SFAS – Statement of Financial Accounting Standards
• AICPA – Non-Guaranteed Premium Products Task Force
• The CPA Letter:  A Semimonthly News Report Published by the AICPA
  • 1984 – AICPA – The CPA Letter – 115p
    • The Institute recently sent two issues papers on diverse accounting matters relating to life insurance to the Financial Accounting Standards Board for consideration.
      • The first, Accounting for Key-Person Life Insurance, discusses various proposed methods of accounting by policyholders for the cost of key-person life insurance. It also discusses a proposed method of accounting for such insurance purchased to fund deferred compensation or other postemployment benefits. Because of the current diversity in practice, the accounting standards executive committee recommends that the FASB consider this matter.
      • The second paper, Accounting by Stock Life Insurance Companies for Annuities, Universal Life Insurance and Related Products and Accounting for Nonguaranteed-Premium Contracts, discusses accounting by stock life insurancecompanies for various relatively new forms of long-duration life insurance contracts.