{"schema_version":2,"canonical_url":"https://asc.understandingaccounting.org/asc/944/80/#45-other-presentation-matters","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":"944","topic_title":"Financial Services—Insurance","subtopic":"944-80","subtopic_title":"Separate Accounts","section":{"number":"45","label":"45 Other Presentation Matters","anchor":"45-other-presentation-matters","is_sec":false,"groups":[{"block":null,"heading":"Overall","paragraphs":[{"citation":"944-80-45-1","para":"45-1","html":"<div class=\"asc-body\"><div class=\"norm-text\"><span class=\"sfragment\" id=\"sfr_098F85FB-6E94-1014-A13F-6E4B94C84136\"><span class=\"sfragment-source\"><a href=\"/glossary/s/#separate-account\" class=\"term\" title=\"A separate investment account established and maintained by an insurance entity under relevant state insurance law to which funds have been allocated for certain contracts of the insurance entity or similar accounts used for foreign originated products. The term separate accounts includes separate accounts and subaccounts or investment divisions of separate accounts.\"><span>Separate account</span></a> assets and liabilities shall be included in the financial statements of the insurance entity that owns the assets and is contractually obligated to pay the liabilities </span></span><span class=\"sfragment\" id=\"sfr_098F8720-6E94-1014-A13F-6E4B94C84136\"><span class=\"sfragment-source\">as summary totals in the financial statements of the insurance entity. </span></span></div></div>","snippet":"Separate account assets and liabilities shall be included in the financial statements of the insurance entity that owns the assets and is contractually obligated to pay the liabilities as summary totals in the financial …","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:5001c110cfcc58207b22e604cd5dd5ca2531052dc06121b371e2000400afa339","downloaded_from":"2026-09-10T02:18:30.731Z","last_downloaded_at":"2026-09-10T02:18:30.731Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147480141","source_sha256":"76d186f113127c3630a6d00bad22e147b1dfcc8b7dffcc1f8163febf01dca656"}},{"citation":"944-80-45-2","para":"45-2","html":"<div class=\"asc-body\"><div class=\"norm-text\"><span class=\"sfragment\" id=\"sfr_098F8805-6E94-1014-A13F-6E4B94C84136\"><span class=\"sfragment-source\">The portion of separate account assets representing contract holder funds shall be </span></span><span class=\"sfragment\" id=\"sfr_098F88DB-6E94-1014-A13F-6E4B94C84136\"><span class=\"sfragment-source\">reported in the insurance entity's financial statements as a summary total, </span></span><span class=\"sfragment\" id=\"sfr_098F8E70-6E94-1014-A13F-6E4B94C84136\"><span class=\"sfragment-source\">with an equivalent summary total reported for related liabilities, </span></span><span class=\"sfragment\" id=\"sfr_098F909E-6E94-1014-A13F-6E4B94C84136\"><span class=\"sfragment-source\">if the <a href=\"/glossary/s/#separate-account-arrangement\" class=\"term\" title=\"An arrangement under which all or a portion of a contract holder's funds is allocated to a specific separate account maintained by the insurance entity.\"><span>separate account arrangement</span></a> meets all of the criteria in paragraph <a href=\"/asc/944/80/#944-80-25-2\" class=\"xref\">944-80-25-2</a>. </span></span></div></div>","snippet":"The portion of separate account assets representing contract holder funds shall be reported in the insurance entity's financial statements as a summary total, with an equivalent summary total reported for related liabili…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:14e71edcc39b435646af7f9bc2265ac56822291c36540432a1bd9acd337b5841","downloaded_from":"2026-09-10T02:18:30.731Z","last_downloaded_at":"2026-09-10T02:18:30.731Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147480141","source_sha256":"76d186f113127c3630a6d00bad22e147b1dfcc8b7dffcc1f8163febf01dca656"}},{"citation":"944-80-45-3","para":"45-3","html":"<div class=\"asc-body\"><div class=\"norm-text\"><span class=\"sfragment\" id=\"sfr_098F9199-6E94-1014-A13F-6E4B94C84136\"><span class=\"sfragment-source\">For the portion of separate account arrangements meeting those criteria, the related investment performance (including interest, dividends, realized gains and losses, and changes in unrealized gains and losses) and the corresponding amounts credited to the contract holder shall be offset within the same statement of operations line item netting to zero. </span></span></div></div>","snippet":"For the portion of separate account arrangements meeting those criteria, the related investment performance (including interest, dividends, realized gains and losses, and changes in unrealized gains and losses) and the c…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:367d76d95e633c80ecafff7b3f97b927dc65f8db51ff5f565d57a2593a92becb","downloaded_from":"2026-09-10T02:18:30.731Z","last_downloaded_at":"2026-09-10T02:18:30.731Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval 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