The Financial Accounting Standards Board is seeking constituent input on whether to add a project on accounting for insurance contracts. According to the FASB, the objective of such a project would be to:
develop a common, high-quality 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 on the proposed project are due November 16, 2007. A copy of the exposure draft is available, here.
Filed under: REAL WORLD
