Life and Health Insurance Entities 

Whether you are a financial statement preparer or an auditor, it is critical to understand the complexities of the life and health insurance industry including revenue recognition, investments, deferred acquisition costs, and financial statement presentation. AICPA publications provide information on recent developments, guidance, practice aids, and illustrative examples for the common accounting and audit practices in the life and health insurance industry including
  • accounting for investments in debt and equity securities, mortgage loans, real estate, joint ventures, and other investments accounting for benefit and claim payments.
  • accounting for future policy benefits (statutory policy reserves) and other contract liabilities.
  • accounting for benefit and claim payments.
  • auditing in-force files and commissions, general expenses, and deferred acquisition costs.
Find comprehensive examples of
  • comparison of tax return accounting rules and statutory accounting practices.
  • financial statements, notes, and supplementary schedules.
  • how to determine deferrable acquisition costs.
For more information on the industry and the AICPA's commitment to provide updates and guidance, visit the Insurance Entities Expert Panel webpage.

The following products are available from the AICPA to help provide guidance and resources for life and health insurance entities.


AICPA Online Professional Library

When you subscribe to any one of the many subscription options on AICPA Online Professional Library, you're not only getting access to the most up-to-date guidance and tools, you are also linked to all of the relevant and related literature, including the FASB and GASB libraries.

Many publications and libraries may be of value to those interested in guidance related to life and health insurance entities:

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