Insurance Industry Fundamentals

Description

Of all the industry-specific accounting requirements within U.S. GAAP, accounting for insurance companies under ASC 944 is arguably the most difficult. Different types of insurance contracts have different accounting models, GAAP vs. statutory accounting principles (SAP), reinsurance, and accounting for investments at fair value are all just some of the accounting issues faced by insurance companies. Consequently, this insurance industry CPE course collection gets you up to speed quickly. It is designed specifically for accountants and auditors of insurance companies under U.S. GAAP. In summary, it is easy to understand, full of examples, and, with GAAP Dynamics, you know it will be fun!

Insurance is all about the spreading of risk. However, there is no risk in taking our insurance training! We’ve been teaching insurance accounting courses and ASC 944 around the world for years and we’re now making it available to you online. Consequently, we’ve bundled together ten insurance industry CPE eLearning courses (eligible for 12.5 CPE credits) at a great price, covering the topics you need to know if you’re responsible for financial reporting for or auditing insurance companies.

Firstly, an introductory course provides an introduction to the insurance industry and accounting and reporting requirements under ASC 944. Topics covered include:

Introduction to the insurance industry
Core activities of insurers
Calculating profitability
Reporting requirements

Following that overview, the next two courses in the series explore the two main accounting models for insurance contracts. These two models are short-duration insurance contracts (for example, property & casualty insurance) and long-duration insurance contracts (for example, life insurance).

Topics covered in the short-duration insurance contracts course include:

Introduction to the P&C insurance business
Underwriting process and accounting for premiums
Claims/reserving process and accounting for loss and LAE reserves
Premium deficiencies
Overview of significant U.S. GAAP and SAP differences

Meanwhile the long-duration insurance contracts course covers an overview of the guidance for those types of contracts.

After that, you'll take a look at the accounting and reporting requirements for reinsurance contracts. As a result, topics covered in this insurance industry CPE course include:

What is reinsurance?
Understanding reinsurance contracts
Risk transfer analysis
Accounting for reinsurance contracts
Significant GAAP vs SAP differences

Finally, the last five courses in this insurance industry CPE course collection cover some of the other areas of U.S. GAAP that are highly relevant to the insurance industry. Therefore, topics covered include:

Fair value under ASC 820
Derivatives under ASC 815
Credit losses under ASC 326

In conclusion, if you are new to the insurance industry or you need a refresher, this insurance industry CPE collection is for you!

Start your insurance training under U.S. GAAP today. Purchase these courses as a bundle for big savings!

Interested in a group discount for your team? Contact us to learn more.

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Additional Information

Expiration	This course, collection, or subscription expires one year from the date of purchase. The post-course assessment for each course must be satisfactorily completed, as evidenced by a passing grade of at least 70%, by the expiration date to be awarded any qualifying continuing professional education (CPE) credit.
Refund or Cancellation Policy	For more information regarding refunds, concerns, and program cancellation policies, please contact the GAAP Dynamics Support Team via email at support@gaapdynamics.com or call (804) 897-0608.

Original price was: $1,469.Current price is: $599.