{"schema_version":2,"canonical_url":"https://asc.understandingaccounting.org/asc/340/944/#25-recognition","source":"FASB Accounting Standards Codification, Basic View","usage":"Study and research edition. Verify current requirements with the official source. Summaries, enrichment, and tags are machine-generated study aids. Paragraph html preserves source markup; snippet is abbreviated. Pending content is not necessarily effective.","topic":"340","topic_title":"Other Assets and Deferred Costs","subtopic":"340-944","subtopic_title":"Financial Services—Insurance","section":{"number":"25","label":"25 Recognition","anchor":"25-recognition","is_sec":false,"groups":[{"block":"Reinsurance","heading":"Prepaid Insurance Premiums","paragraphs":[{"citation":"340-944-25-1","para":"25-1","html":"<div class=\"asc-body\"><div class=\"norm-text\"><span class=\"sfragment\" id=\"sfr_0150B9B5-6E94-1014-A13F-6E4B94C84136\"><span class=\"sfragment-source\">Amounts paid to the <a href=\"/glossary/r/#reinsurer\" class=\"term\" title=\"The assuming entity in a reinsurance transaction.\"><span>reinsurer</span></a> relating to the unexpired portion of reinsured contracts (<a href=\"/glossary/p/#prepaid-reinsurance-premiums\" class=\"term\" title=\"Amounts paid to the reinsurer relating to the unexpired portion of reinsured contracts.\"><span>prepaid reinsurance premiums</span></a>) shall be reported separately as assets. </span></span></div></div>","snippet":"Amounts paid to the reinsurer relating to the unexpired portion of reinsured contracts (prepaid reinsurance premiums) shall be reported separately as assets.","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:8adf8a70388cd023968f8c7f177d274e5b1a496ce15f72cb9d71d571a82139ba","downloaded_from":"2026-09-09T23:58:07.949Z","last_downloaded_at":"2026-09-09T23:58:07.949Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147479510","source_sha256":"6c64914e947d71445493ac580e5334ce06e6087c3c6060432e47897b5b7a891e"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:c0af32dd0e0bc0d52d941663593fbad69b95cc57daef96ed88d977d71cbe4900","downloaded_from":"2026-09-09T23:58:07.949Z","last_downloaded_at":"2026-09-09T23:58:07.949Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147479510","source_sha256":"6c64914e947d71445493ac580e5334ce06e6087c3c6060432e47897b5b7a891e"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:cf155676ed2fcea9b4935d3a9269f40961d65fb3051e84edb5a7f6406afd1e83","downloaded_from":"2026-09-09T23:58:07.949Z","last_downloaded_at":"2026-09-09T23:58:07.949Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147479510","source_sha256":"6c64914e947d71445493ac580e5334ce06e6087c3c6060432e47897b5b7a891e"}},"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:cf155676ed2fcea9b4935d3a9269f40961d65fb3051e84edb5a7f6406afd1e83","downloaded_from":"2026-09-09T23:58:07.949Z","last_downloaded_at":"2026-09-09T23:58:07.949Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147479510","source_sha256":"6c64914e947d71445493ac580e5334ce06e6087c3c6060432e47897b5b7a891e"}}