In-depth guidance on, and interpretations of, ASU 2018-12. This latest edition includes new and updated interpretations and examples based on our experience with companies implementing ASU 2018-12.
Applicability
- Insurance entities that issue long-duration contracts
- Not applicable to policyholders of long-duration contracts or non-insurance entities
Relevant dates
Effective immediately
Key impacts
ASU 2018-12 impacts the following areas:
- Q&As that answer common questions we are encountering in practice
- Examples to explain key concepts
- Changes from legacy US GAAP
Report contents
- Liability for future policy benefits
- Market risk benefits
- Deferred acquisition costs
- Other accounting items
- Enhanced disclosure requirements
- Effective dates and transition
Download from KPMG Financial Reporting View