# ASC 944-80-45: Financial Services—Insurance — Separate Accounts — 45 Other Presentation Matters

Source: FASB Accounting Standards Codification, Basic View

[Read online](https://asc.understandingaccounting.org/asc/944/80/#45-other-presentation-matters)

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## ASC 944-80-45: 45 Other Presentation Matters

[Read section](https://asc.understandingaccounting.org/asc/944/80/#45-other-presentation-matters)

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#### Overall

##### [944-80-45-1](https://asc.understandingaccounting.org/asc/944/80/#944-80-45-1)

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[Separate account](https://asc.understandingaccounting.org/glossary/s/#separate-account "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.") 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 statements of the insurance entity.

##### [944-80-45-2](https://asc.understandingaccounting.org/asc/944/80/#944-80-45-2)

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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 liabilities, if the [separate account arrangement](https://asc.understandingaccounting.org/glossary/s/#separate-account-arrangement "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.") meets all of the criteria in paragraph [944-80-25-2](https://asc.understandingaccounting.org/asc/944/80/#944-80-25-2).

##### [944-80-45-3](https://asc.understandingaccounting.org/asc/944/80/#944-80-45-3)

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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.