2018 Insurance Industry GAAP Accounting + Tax Update
‘Tis the season to get up-to-date on the latest accounting developments impacting the insurance industry. During this session, we also covered the most sweeping tax reform legislation in more than 30 years, highlighting key provisions to consider when preparing your 2018 tax provision.
Participants were updated on accounting and tax developments most likely to affect the insurance industry. Accounting topics included the new reporting model for equity securities, credit loss (allowance model), leases, and revenue recognition and its impact on insurance companies and related entities. Tax reform topics included loss discounting, dividend received deduction, meals and entertainment, and net operating losses and alternative minimum tax considerations.