ASC 320-944
Financial Services—Insurance
320 Investments—Debt Securities
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ASC 320-944 was the insurance-industry ("Financial Services—Insurance") incremental guidance layered onto Investments—Debt Securities. Every paragraph in this subtopic (05-1, 15-1, 15-2, 25-1, 50-1, 50-2) has been superseded by Accounting Standards Update No. 2016-01, so the subtopic contains no operative guidance. Insurance entities now follow the general guidance in ASC 320 for debt securities and ASC 321 for equity securities.
Key points (5)
- All content of ASC 320-944 — the Overview (320-944-05-1), Scope (320-944-15-1 and 15-2), Recognition (320-944-25-1), and Disclosure (320-944-50-1 and 50-2) paragraphs — has been superseded by ASU 2016-01.
- Because no paragraph survives, there is no insurance-specific incremental recognition or disclosure requirement remaining in this subtopic.
- Insurance entities account for investments in debt securities under the general subtopic ASC 320-10 (trading, available-for-sale, and held-to-maturity classification).
- ASU 2016-01 moved equity securities out of ASC 320 into ASC 321, eliminating the need for the insurance-specific overlay that this subtopic provided.
- Entities researching pre-ASU 2016-01 periods must consult the superseded text as it existed before adoption, applying the transition guidance in ASU 2016-01.
For students. This subtopic is a shell: every paragraph is superseded, so citing it as live authority is a mistake. If asked how an insurer accounts for debt securities today, point to ASC 320-10 (and ASC 321 for equity securities), not ASC 320-944.
Machine-generated study aid for ASC 320-944. Check the source paragraphs below.
320-944-00Status
Source downloaded: .Record version 79d6492f4125. Effective date must be checked in the source.
| Paragraph | Action | Accounting Standards Update | Date |
| Carrying Amount | Superseded | Accounting Standards Update No. 2016-01 | 01/05/2016 |
| Separate Account | Superseded | Accounting Standards Update No. 2016-01 | 01/05/2016 |
| 944-320-05-1 | Superseded | Accounting Standards Update No. 2016-01 | 01/05/2016 |
| 944-320-15-1 | Superseded | Accounting Standards Update No. 2016-01 | 01/05/2016 |
| 944-320-15-2 | Superseded | Accounting Standards Update No. 2016-01 | 01/05/2016 |
| 944-320-25-1 | Superseded | Accounting Standards Update No. 2016-01 | 01/05/2016 |
| 944-320-50-1 | Superseded | Accounting Standards Update No. 2016-01 | 01/05/2016 |
| 944-320-50-2 | Superseded | Accounting Standards Update No. 2016-01 | 01/05/2016 |
| 944-320-50-2 | Added | Accounting Standards Update No. 2012-04 | 10/01/2012 |
320-944-05Overview and Background
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320-944-15Scope and Scope Exceptions
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320-944-25Recognition
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320-944-50Disclosure
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