# ASC 944-20-45: Financial Services—Insurance — Insurance Activities — 45 Other Presentation Matters

Source: FASB Accounting Standards Codification, Basic View

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## ASC 944-20-45: 45 Other Presentation Matters

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### Long-Duration Contracts

#### Statement of Earnings—Universal Life-Type Contracts

##### [944-20-45-1](https://asc.understandingaccounting.org/asc/944/20/#944-20-45-1)

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Payments to policyholders that represent a return of policyholder balances are not expenses of the insurance entity and shall not be reported as such in the statement of earnings.

##### [944-20-45-2](https://asc.understandingaccounting.org/asc/944/20/#944-20-45-2)

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Amounts reported as expenses shall include all of the following:

1.  a
    
    Benefit claims in excess of the related policyholder balances
    
2.  b
    
    Expenses of contract administration
    
3.  c
    
    Interest accrued to policyholders
    
4.  d
    
    Amortization of capitalized [acquisition costs](https://asc.understandingaccounting.org/glossary/a/#acquisition-costs "Costs that are related directly to the successful acquisition of new or renewal insurance contracts.") (see Subtopic 944-30).

##### [944-20-45-3](https://asc.understandingaccounting.org/asc/944/20/#944-20-45-3)

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Various other paragraphs in this Topic address presentation-related matters associated with universal life-type contracts as follows:

1.  a
    
    Premiums collected—see paragraph [944-605-25-5](https://asc.understandingaccounting.org/asc/605/944/#605-944-25-5)
    
2.  b
    
    Amounts assessed for compensation—see paragraph [944-605-25-6](https://asc.understandingaccounting.org/asc/605/944/#605-944-25-6)
    
3.  c
    
    Amounts assessed against policyholders for initiation or front end fees—see paragraph [944-605-25-5](https://asc.understandingaccounting.org/asc/605/944/#605-944-25-5)
    
4.  d
    
    Unearned revenue—see paragraph [944-605-35-2](https://asc.understandingaccounting.org/asc/605/944/#605-944-35-2)
    
5.  e
    
    Amounts that may be assessed against policyholders in future periods—see paragraph [944-40-30-17](https://asc.understandingaccounting.org/asc/944/40/#944-40-30-17)
    
6.  f
    
    Cash values—see paragraph [944-40-30-18](https://asc.understandingaccounting.org/asc/944/40/#944-40-30-18).