Financial reporting for insurance companies that issue long-duration contracts will change under an accounting standard issued by FASB. The targeted changes to the current reporting model affect ...

The Financial Accounting Standards Board released a long-awaited accounting standards update Wednesday to improve the financial reporting for insurance companies that issue long-duration contracts, ...

Insurance expenses are some of the most common expenses encountered in small business. In many cases, businesses are billed for a year or more of insurance coverage upfront. However, generally ...

In a game-changing development, the Corporate Affairs Ministry (MCA) has notified the much-awaited new accounting standard on ‘Insurance Contracts’ (Ind AS 117), setting the stage for a major overhaul ...

Insurance companies have different financial transactions than most other businesses that buy supplies and then make sales or offer services. Insurance companies may pay claims up front and then try ...

The International Accounting Standards Board has issued its long-awaited standard for insurance contracts after more than a dozen years, requiring a consistent treatment for all types of insurance ...

CHICAGO--(BUSINESS WIRE)--Northern Trust (Nasdaq: NTRS) announced today the successful upgrade of its SAP Financial Asset Management application to SAP S/4HANA, which further enhances its Insurance ...