FASB Proposes Changing Standards for Insurance Contracts

The Financial Accounting Standards Board has issued a proposed accounting standards update for improving the financial reporting for long-term insurance, contracts, including life insurance, disability income, long-term care and annuities.…

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FASAB Issues Statement of Federal Financial Accounting Standards 48

The chairman of the Federal Accounting Standards Advisory Board (FASAB), Scott Showalter, announced today that FASAB has issued Statement of Federal Financial Accounting Standards (SFFAS) 48, Opening Balances for Inventory,…

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