scope of insurance accounting

Industry1

1. 944-10Overall944 Financial Services—Insurance

   ASC 944-10 is the Overall subtopic of the Financial Services—Insurance Topic; it serves as the roadmap and scope gate for all insurance-specific accounting guidance. It lists the Topic's Subtopics (acquisition costs, claim costs and liabilities for future policy benefits, policyholder dividends, premium deficiency, separate accounts, and the statement/disclosure subtopics) and identifies the four contract-type Subsections used throughout: short-duration, long-duration, reinsurance, and financial guarantee insurance contracts. The guidance is incremental industry-specific guidance—entities in scope must still apply all other applicable GAAP.