Potential Financial Close Changes in Business Processes

John Wicke CPA, PMP, CPCU, CGMA| Retired Ocean, Nj, United States

The Accounting Standards Update (ASU) on Long Durations Insurance Contracts creates obvious management challenges in the identification, selection and application of interest rate changes for like groups of insurance products. While management appropriately focuses on the interest rate assumptions, potential systems modifications and decisions needed to comply with this ASU, management will also need to consider the potential impact on the timing of their financial close to determine what timing changes can or will occur affecting current reporting date requirements.

Posted: Dec 8, 2018 4:16 PM

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Potential Financial Close Changes in Business Processes

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